Ethereum Sees Massive Confidence Boost with $130.8M Buy from Suspected Bitmine Wallet

A wallet suspected to belong to Bitmine, a mining entity, has executed a massive purchase of 41,946 Ethereum coins worth $130.8 million. This move indicates deep confidence in Ethereum's long-term value and highlights the trend of crypto-native institutions actively accumulating assets. It signals confidence, reduces supply, and provides stability to the market. The move could be part of Bitmine's treasury diversification strategy. Everyday investors should pay attention to on-chain data and understand the difference between trading and investing.