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ETH Key Insights
BitMine bought another 7,500 ETH, worth approximately US$14.61 million, further expanding its Ethereum reserves.
The net inflow of the spot Ethereum ETF on the day was US$9.31 million, with BlackRock's ETHA fund leading the way.
ETH prices fell 3.88%, but continued buying by institutions kept the market's attention focused on Ethereum.
Ethereum news is in the spotlight again as BitMine bought another 7,500 ETH, worth approximately US$14.61 million. The purchase came amid continuous net inflows into the spot Ethereum ETF. Despite the decline in ETH prices, the latest buying action still keeps the market concerned, and people are also waiting to see the subsequent trend.
Ethereum News: BitMine further increases its holdings of ETH reserves
BitMine once again increased its holdings of Ethereum and purchased 7,500 new ETH, worth approximately US$14.61 million. Information shared by on-chain data platform Onchain Lens showed that the tokens were transferred from BitGo to a new wallet suspected of being related to the company, with the wallet address 0x95dE268 E950E582A239E350 A800C 050882612c44.
According to this Ethereum news, the latest buying behavior further expands BitMine's growing Ethereum reserves. The company is led by Tom Lee and is known for buying large quantities of ETH. Because of this, many people in the crypto market now call BitMine the "Michael Siler of Ethereum."
BitMine's potential ethereum increase in holdings| Data source: Onchain Lens
According to the same update, BitMine currently holds more than 4.8% of Ethereum's total supply, making it one of the largest known corporate holders. Buying timing has also attracted attention. ETH prices rebounded after recent gains, but BitMine did not wait and chose to continue buying. This has led some traders to believe that the company is still bullish on long-term prices.
Such large-scale buying doesn't always drive prices up immediately, but it tends to attract attention because it reflects the movements of large investors. For those who follow Ethereum news, BitMine's latest move is a sign that despite the recent price drop, some big players are still overweight.
Ethereum news shows ETF demand remains positive
Spot Ethereum ETFs also recorded inflows in the most recent session. Data shared by Trader T showed total net inflows of $9.31 million on July 27. BlackRock's ETHA fund led the way with new inflows of $11.75 million, while BlackRock's Staked ETHB increased by $80,000.
Based on this Ethereum news, most other funds remained unchanged that day. Fidelity's FETH, Bitwise's ETHW, 21Shares's TETH, Franklin's EZET, VanEck's ETHV, grayscale ETHE, and grayscale mini ETH all recorded zero net traffic.
Spot Ethereum ETF inflow outlook| Data source: Trader T
The only fund with an outflow was Invesco's QETH, with a net outflow of US$2.52 million. Although the total inflow is not large, it is still another positive trading day for Ethereum investment products. This suggests that even as prices fall, some investors are still injecting money into the market.
ETH prices fell, but buyers are still waiting and see
As of writing, ETH prices were US$1,882.15, down 3.88% in the past 24 hours. The market value of Ethereum is US$227.14 billion, and the daily trading volume is US$12.84 billion, an increase of 26.79%. The ratio of transaction volume to market value was 5.66%. Ethereum's circulating supply remained at 120.68 million ETH, which was the same as the total supply.
The latest decline has not changed the overall judgment of many market observers. BitMine is still buying, and ETF products are still recording net inflows based on the latest Ethereum news trends. These two points will be indicators that many traders will continue to focus on in the coming days.
Currently, the Ethereum cryptocurrency is still under pressure after the recent correction. Even so, continued buying by large players and stable inflows of ETFs could help support the market if demand remains strong. The next few trading sessions will reveal more clearly whether buyers are ready to return to the market or whether the current weakness will last longer.
