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Криптовалютная кредитная компания Ledn привлекла $188 млн на выпуске облигаций, обеспеченных залогом в виде биткоина. Держатели ценных бумаг получают выплаты за счет денег, генерируемых криптокредитами.

Крупнейший по величине активов американский банк Bank of America увеличил свою долю в компании BitMine более чем в 17 раз, до 3,1 млн акций. BitMine является крупнейшим корпоративным держателем эфира.

Russia is preparing to restrict access to global crypto exchanges this summer, experts said, suggesting that authorities are planning to shift trading from foreign platforms to domestic ones under the upcoming regulatory framework.

Russia To Restrict Foreign Crypto Exchanges

On Tuesday, experts said Russia will likely block foreign crypto exchanges by summer 2026 as lawmakers advance the highly anticipated domestic framework, expected by July 1, to bring the industry out of the shadows.

According to a report by local news outlet RBC Crypto, industry participants believe authorities will soon begin restricting access to overseas exchanges, similar to the Telegram and YouTube block.

Nikita Zuborev, senior analyst at crypto exchange aggregator Bestchange.ru, told the news media outlet that this scenario is likely, asserting that as soon as the domestic market enters the new regulatory regime, “there is an almost 100% chance that the fight against major competitors will begin.”

“We expect that Roskomnadzor may begin mass blocking of websites of crypto exchanges and large exchangers not registered in Russia as early as this summer. Most likely, they will act according to the YouTube blocking model — they will delete DNS records in the Russian segment of the Internet and continue to fight against means of circumventing the blocks,” the analyst stated.

However, Zuborev cautioned that if global exchanges are not allowed to obtain licenses or to operate as agents of domestic exchanges or brokers, a part of the market will move underground, increasing fraud, complicating regulation, and resulting in higher commission fees.

Meanwhile, Dmitry Machikhin, lawyer and founder of BitOK, considers a “Belarusian scenario” highly possible. Notably, only companies operating under Belarus’ special regime can conduct cryptocurrency transactions, while individuals are prohibited from buying and selling digital assets on foreign platforms.

Machikhin noted that completely restricting operations is impossible, citing Binance as an example. The global exchange still has over 1 million Russian customers despite its departure from the country’s market. Therefore, the chances of a direct ban on transactions using foreign exchanges are low, the lawmakers added.

EU Explores Broader Sanctions

Ignat Likhunov, founder of Cartesius law agency, agreed with the other two experts, affirming, “It seems that blocking measures are being prepared in parallel with the creation of a ‘white’ zone, and conditions for ‘illegal’ exchangers and unfriendly foreign exchanges will deteriorate.”

He pointed out that the lack of “real levers of influence” over foreign exchanges, noting that the platforms don’t need to hurry to comply with any requirements of Russian legislation.

As a result, authorities will likely hold them accountable in absentia and block access to the foreign exchanges that enforce sanctions against Russia for various reasons, including economic or non-compliance with the law on data landing.

It’s worth noting that the European Union has been exploring implementing strict sanctions on all crypto transactions linked to Russia to limit sanctions evasion. As reported by Bitcoinist, the European Commission is strengthening its crackdown on the country’s use of digital assets to evade sanctions by considering measures to ban all Russia-related crypto transactions.

Legal documents show that the Commission has proposed a broader prohibition “instead of attempting to ban copycat Russian crypto entities spun out of already sanctioned platforms.” The proposal focuses on stopping the growth of successors to Russia-linked crypto exchange Garantex, while aiming at payment platforms such as A7 and its related ruble-pegged stablecoin A7A5.

The Commission also suggested adding 20 banks to the list of sanctioned entities and a ban on any digital ruble-related transactions.

Инвестиционный директор управляющей криптоактивами компании Bitwise Мэтт Хоуган (Matt Hougan) заявил, что крипторынок из медвежьего цикла может вывести сектор децентрализованных финансов (DeFi).

Компания World Liberty Financial (WLFI), связанная с президентом США Дональдом Трампом, объявила о планах токенизировать права на получение дохода от финансирования строительства курорта Trump International Hotel & Resort на Мальдивах. Это первый проект токенизации реальных активов (RWA) под брендом WLFI.

Hyperliquid (HYPE) announced on Wednesday that its Foundation will back the creation of the Hyperliquid Policy Center (HPC), a new Washington, D.C.-based organization designed to advocate for clearer federal rules governing decentralized finance (DeFi).

Jake Chervinsky To Lead Hyperliquid Policy Center 

The new center will be led by Jake Chervinsky, who previously held senior roles at the Blockchain Association, one of the industry’s leading trade groups, and at venture capital firm Variant.

As HPC’s inaugural CEO, he is expected to lead efforts to engage lawmakers and regulators at a time when digital asset policy is shifting away from previous roadblocks that hampered the sector’s growth in the United States.

In comments to Fortune, Chervinsky said the United States is at a pivotal juncture in determining how decentralized finance should be integrated into the country’s financial framework. 

The center’s mission will be to help members of Congress and federal agencies better understand how DeFi protocols function and to offer technical expertise as regulators craft rules that can accommodate the technology, the executive asserted.

He emphasized that much of today’s financial regulatory system was designed for an earlier, analog era. In his view, those frameworks are poorly suited to decentralized protocols, which enable users to trade digital assets on automated platforms that operate without centralized intermediaries. 

HPC Backs Perpetuals Framework

Among the center’s top priorities will be establishing a legal structure for perpetual derivatives, commonly known as “perps.” These instruments, which do not have expiration dates, are widely traded on offshore crypto exchanges and account for a significant share of global digital asset activity. 

Chervinsky contends that perpetuals offer advantages over traditional options and futures contracts because they are simpler and provide more direct exposure to underlying assets. Despite their popularity abroad, they have yet to gain a foothold in mainstream US finance, in part due to regulatory uncertainty.

To fund the initiative, the foundation affiliated with Hyperliquid is contributing 1 million HYPE tokens. At current prices of $28.75 per token, that allocation is valued at approximately $28.7 million.

In addition to Jake Chervinsky’s role in the new venture, the founding team includes Policy Counsel Brad Bourque, formerly an associate at Sullivan & Cromwell LLP, and Policy Director Salah Ghazzal, who previously served as Policy Lead at Variant. 

The Hyperliquid Policy Center is also building out its leadership bench and is currently recruiting for key roles, including Chief of Staff, Head of Communications, and Head of Government Relations.

Featured image from OpenArt, chart from TradingView.com 

Гендиректор крупнейшей американской криптобиржи Coinbase Брайан Армстронг (Brian Armstrong) заявил, что текущая коррекция биткоина связана не с экономическими факторами или квантовыми рисками, а с психологией инвесторов.

Крупнейшая итальянская банковская группа Intesa Sanpaolo раскрыла инвестиции в криптовалютные биржевые фонды (ETF), направив отчет в Комиссию по ценным бумагам и биржам США (SEC).

Эксперты блокчейн-платформы Arkham Intelligence опубликовали исследование распределения BTC среди крупнейших держателей, оценив концентрацию активов у частных лиц, компаний, бирж и государственных структур.

Momentum around Hyperliquid cooled quickly this week after HYPE failed to hold a breakout above $31, sending the token back to a familiar battleground between buyers and sellers. With price hovering near key support, traders are now watching closely for signals that could define the next directional move.

Related Reading: Crypto Lobby Group Sounds Alarm Over Senate’s Crypto Bill Threat

The recent pullback reflects a broader consolidation trend that has defined price action for months, as shifting market sentiment, weakening technical momentum, and cooling network activity reshape short-term expectations.

Data tracked across major market platforms shows HYPE fluctuating within a well-established range, roughly $28 to $30. While the structure has offered predictable trading levels, repeated rejection near resistance suggests buyers are becoming cautious after recent gains.

Range Trading Defines the Current Market

Hyperliquid (HYPE) briefly moved above $31 earlier this week before retracing, supporting resistance between $32 and $35. Analysts note that the $27.50–$28.50 region remains the most important support area, where buyers have consistently stepped in during recent volatility.

Holding above roughly $28.98 is viewed as critical for maintaining bullish continuation. A successful defense could allow a renewed attempt toward $32.28 and potentially $35 if momentum returns.

However, failure to hold this zone may expose the token to deeper downside, with projections pointing toward $25–$26 as the next support band. The consolidation comes after the token declined nearly 25% from its yearly high near $37.8, reflecting broader crypto market weakness and reduced risk appetite across digital assets.

Bearish Signals Emerge as Hyperliquid’s  Activity Slows

Technical indicators are sending mixed signals. A bearish MACD crossover and weakening momentum readings suggest selling pressure has increased, while neutral RSI levels indicate the market has not yet reached oversold conditions.

Fundamentals have also softened. Weekly protocol revenue recently dropped more than 50%, alongside a decline in total value locked. Lower activity reduces the platform’s capacity to fund token buybacks, easing deflationary pressure that previously supported price recovery.

Despite this, market participants continue to monitor institutional developments around Hyperliquid, including expanding liquidity access through integrations and growing participation from larger traders.

Can HYPE Reclaim Momentum?

Short-term direction now depends largely on whether support near $28 holds. A bounce from this region could trigger renewed buying interest and reopen the path toward $34–$35. Conversely, a confirmed breakdown may accelerate losses if broader crypto market conditions remain weak.

Related Reading: Bitcoin ‘Ghost Whale’ Emerges: New Hong Kong Filer Tops Q4 IBIT Buys

Declining volume and cautious sentiment suggest traders are waiting for clearer confirmation. Price action near current levels is increasingly viewed as a decision zone, one that may determine whether HYPE resumes its upward trend or enters a deeper corrective phase.

Cover image from ChatGPT, HYPEUSD chart on Tradingview

Глава исследовательского подразделения брокерской компании K33 Research Ветле Лунде (Vetle Lunde) заявил, что сегодняшняя ситуация на рынке биткоина напоминает заключительный этап медвежьего цикла 2022 года.

Гендиректор одного из крупнейших инвестиционных банков Уолл-стрит Goldman Sachs Дэвид Соломон (David Solomon) рассказал на форуме World Liberty Forum во Флориде, что владеет небольшим количеством биткоина.

Bitcoin is struggling to maintain stability around the $70,000 level as persistent selling pressure continues to weigh on market sentiment. Repeated rejection near this psychological threshold has reinforced a cautious environment, with volatility elevated and traders closely monitoring liquidity conditions and macro signals. While consolidation above key support levels can sometimes indicate resilience, the current price structure suggests a market still searching for direction after months of corrective momentum.

Recent on-chain analysis from Darkfost offers additional context regarding whale activity. The report notes that although inflows from large holders to exchanges have increased in recent weeks — often a sign of potential short-term selling pressure — total whale-held supply has continued to expand overall. This distinction is important when evaluating broader market structure.

Exchange inflows typically capture immediate positioning behavior and can precede temporary price weakness. However, the chart referenced in the analysis focuses on the medium-term evolution of whale-held supply using a monthly average, providing a more structural perspective. From this viewpoint, the continued growth in holdings suggests that larger investors may still be accumulating despite ongoing volatility.

Whale Accumulation Returns As Large Holders Rebuild Bitcoin Positions

According to Darkfost, recent on-chain data suggests a notable shift in Bitcoin whale behavior following the sharp contraction observed late last year. After the monthly average of whale-held supply dropped to nearly -7% on December 15, accumulation appears to have resumed. Over the past month, holdings attributed to large investors have increased by roughly 3.4%, signaling renewed positioning despite ongoing market uncertainty.

This rebound translates into a rise in whale-controlled supply from approximately 2.9 million BTC to more than 3.1 million BTC. In absolute terms, that represents an accumulation exceeding 200,000 BTC within a relatively short period. Historically, movements of this magnitude have tended to coincide with transitional phases rather than immediate trend reversals.

A comparable accumulation wave occurred during the April 2025 correction, when sustained whale buying helped absorb selling pressure and contributed to Bitcoin’s subsequent rally from about $76,000 to $126,000. While past patterns do not guarantee repetition, the parallel provides useful context for interpreting current flows.

With Bitcoin still consolidating roughly 46% below its most recent all-time high, current price levels may be perceived by large holders as relatively attractive. However, Darkfost cautions that persistent selling pressure remains a dominant factor, meaning accumulation alone may not yet be sufficient to drive a decisive recovery.

Bitcoin Holds Fragile Support As Weekly Trend Weakens

Bitcoin price action on the weekly timeframe continues to reflect a structurally corrective phase following the rejection from the late-2025 highs near $125,000. The chart shows a clear transition from bullish trend continuation into a sustained downtrend, with lower highs forming since November, and the price recently breaking decisively below the 100-week moving average. This breakdown typically signals weakening medium-term momentum and often precedes extended consolidation or further downside exploration.

Currently, BTC is trading around the $67,000 area, which appears to be acting as a tentative stabilization zone after the sharp decline from the $90,000–$95,000 range earlier this year. The 50-week moving average has rolled over and now acts as dynamic resistance, while the 200-week moving average near the mid-$50,000 region remains the primary structural support level if selling pressure intensifies.

Volume spikes during the recent decline suggest forced deleveraging and defensive repositioning rather than gradual distribution. Historically, similar patterns have marked transitional phases between late bull cycles and early accumulation periods.

Featured image from ChatGPT, chart from TradingView.com 

Компания Chainalysis, занимающаяся аналитикой блокчейнов, сообщила, что объемы криптовалютных платежей, связанных со схемами торговли людьми, к 2025 году выросли на 85% и достигли сотен миллионов долларов.

По словам первого заместителя председателя Нацбанка Беларуси Александра Егорова, самозанятые граждане страны смогут получать оплату своих услуг в криптовалюте, проводя операции через зарегистрированный криптобанк.

A growing legal clash over prediction markets in the United States is intensifying after federal regulators aligned with the Trump administration stepped in to support industry operators Kalshi and Polymarket, even as Nevada moves forward with enforcement action to shut down parts of their businesses.

The dispute raises a broader question facing courts and regulators: whether prediction markets are financial products governed by federal law or a form of online gambling subject to state control.

The latest developments came after the U.S. Court of Appeals for the Ninth Circuit rejected Kalshi’s request to pause enforcement actions by Nevada regulators. Within hours of the decision, the Nevada Gaming Control Board filed a civil lawsuit seeking to block the platform from offering sports-related event contracts to state residents.

Nevada Pushes Gambling Enforcement

Nevada regulators argue that Kalshi’s event contracts, which allow users to trade on outcomes such as sports results, function similarly to traditional sports betting and therefore require a state gaming license.

Officials say the company is offering unlicensed wagering that violates Nevada’s gaming laws and undermines the state’s tightly regulated betting market.

The lawsuit seeks an injunction that could force Kalshi to halt its local operations while litigation continues. The state has taken similar action against other platforms, reflecting a wider effort by multiple jurisdictions to limit prediction markets they view as gambling products.

Kalshi disputes that characterization, maintaining that its contracts are financial derivatives, not bets. The company operates as a federally regulated exchange and has moved to have the case transferred to federal court, arguing that state laws are preempted by federal oversight.

Federal Regulators Enter the Fight

At the center of the dispute is the Commodity Futures Trading Commission (CFTC), which, under Chairman Michael Selig, has taken a more active stance in defending prediction markets. The agency filed an amicus brief supporting federal jurisdiction, arguing that states cannot reclassify federally regulated derivatives trading as illegal gambling.

The Trump administration’s backing of Kalshi and Polymarket shows a broader policy shift toward treating prediction markets as part of the financial system rather than the gambling industry. Federal officials argue that allowing individual states to impose bans could create fragmented regulation and undermine national derivatives markets.

Prediction platforms allow participants to buy contracts priced between one and 99 cents based on the probability of real-world events occurring. While markets cover politics, economics, and weather outcomes, sports-related contracts account for the majority of trading volume.

What Comes Next for Prediction Markets

The legal battle is unfolding across several courts and could ultimately determine who regulates prediction markets nationwide. States, including Massachusetts, Tennessee, and others, have issued lawsuits or cease-and-desist orders, while operators continue to argue for federal protection.

Nevada’s enforcement action increases immediate pressure on Kalshi, though appeals, including a potential emergency request to the U.S. Supreme Court, remain possible.

The outcome could reshape how Americans participate in event-based trading and define the boundary between financial speculation and online gambling for years to come.

Cover image from ChatGPT, BTCUSD chart from Tradingview

The crypto market continues to face sustained selling pressure, with sentiment increasingly shaped by caution and, in some segments, outright panic. After the strong rally that culminated in late 2025, price action across major digital assets has shifted into a defensive phase. Bitcoin, for example, is currently trading near $68,800, a significant decline from its all-time high above $125,000 recorded in October 2025. This retracement has coincided with broader weakness across altcoins, where volatility and liquidity conditions remain fragile.

Recent on-chain analysis from CryptoQuant highlights the scale of this shift. According to the report, altcoin selling pressure has reached a five-year extreme, reflected in a cumulative Buy/Sell Difference of approximately -$209 billion when excluding Bitcoin and Ethereum. Notably, as recently as January 2025, this metric was close to neutral, indicating a balance between demand and supply. Since then, however, flows have moved consistently in one direction, pointing to persistent distribution rather than episodic selling.

Such prolonged imbalance typically signals structural repositioning rather than short-term volatility alone. While this does not automatically confirm a prolonged bear phase, it suggests the market is still absorbing excess supply. Investors, therefore, remain focused on liquidity trends, macro conditions, and whether demand can stabilize in the coming months.

Sustained Outflows Point To Weak Altcoin Demand

According to the analyst, recent on-chain data suggest a structural shift in crypto market participation rather than a temporary pullback. Retail activity appears to have faded significantly, while capital traditionally categorized as “smart money” has largely rotated away from altcoins. Notably, there are currently few signs of meaningful institutional accumulation across the altcoin segment, reinforcing the perception of reduced risk appetite.

The cumulative Buy/Sell Difference for altcoins excluding Bitcoin and Ethereum has reached approximately -$209 billion over the past 13 months. Importantly, this figure reflects persistent net selling on centralized exchange spot markets rather than isolated liquidation events. The continuous nature of these outflows distinguishes the current phase from typical short-lived corrections driven by leverage flushes or episodic panic.

Such sustained distribution implies that liquidity support from marginal buyers has weakened considerably. In practical terms, this does not automatically signal a market bottom; instead, it indicates a period in which demand has yet to re-establish equilibrium with supply.

Historically, recovery phases tend to begin only after new buyers return decisively. Until that shift materializes, altcoin price action may remain subdued, with consolidation or further downside risk still plausible.

Crypto Market Cap Weakens As Capital Concentrates In Major Assets

The total crypto market capitalization excluding the top ten assets continues to show structural weakness, reflecting sustained capital rotation away from smaller altcoins. The chart highlights a clear decline following the late-2025 peak, with market cap retracing toward the $170–180 billion region after previously trading above $400 billion. This sharp contraction suggests reduced risk appetite and diminished speculative participation across the broader altcoin sector.

Price structure also remains technically fragile. The market cap has fallen below key moving averages, which are now trending downward and acting as dynamic resistance. Historically, this configuration tends to accompany extended consolidation phases or gradual distribution rather than immediate recovery. Until price can reclaim these averages convincingly, upside momentum is likely to remain limited.

Volume patterns reinforce this interpretation. Selling activity increased notably during the recent breakdown, indicating active capital withdrawal rather than simple inactivity. Although some stabilization appears near current levels, the absence of strong accumulation signals suggests buyers remain cautious.

From a broader market perspective, this divergence often coincides with capital concentration into Bitcoin, Ethereum, or stablecoins during uncertain conditions. Whether this phase evolves into a base formation or deeper correction will depend largely on liquidity returning to the altcoin segment and improving overall risk sentiment.

Featured image from ChatGPT, chart from TradingView.com 

Reports say large Bitcoin holders have stepped up activity on Binance, and traders are watching closely. Volume from the biggest transfers has risen in a short time. That change could matter for price moves, or it could mean nothing at all.

Bitcoin’s price has softened recently, trading below $70,000 as markets digest a blend of macro uncertainty and geopolitical cues. Reports note that ongoing tensions, shifting monetary views, and risk aversion have kept traders cautious, with crypto’s movement increasingly tied to broader financial sentiment.

In this environment, Bitcoin’s swings have been sharper than usual, reflecting not only internal market dynamics but also reactions to global headlines.

Elsewhere, mixed signals from traditional markets have played a role. Some geopolitical developments seem to calm broader risk appetite, weighing on speculative assets like Bitcoin, while other flashpoints have briefly jostled crypto prices as traders reassess exposure.

This push‑and‑pull has left Bitcoin’s near‑term outlook unsettled, with investors watching key support levels for signs of stability or renewed downside stress.

Whale Inflow Ratio Surges on Binance Amid Market Correction

“Between February 02 and 15, the ratio rose sharply from 0.4 to 0.62, signaling a significant resurgence of whale activity on Binance.” – By @Darkfost_Coc pic.twitter.com/LrNu5cRcka

— CryptoQuant.com (@cryptoquant_com) February 17, 2026

Whale Inflow Ratio Shows A Spike

According to CryptoQuant data, the metric that compares volume from the 10 largest Bitcoin deposits to total inflows climbed from about 0.40 to roughly 0.62 in two weeks.

That is a clear jump. It means a bigger share of coins coming onto the exchange are coming from very large wallets. Market observers often see that as a sign that major players are preparing to act.

They may be readying to sell. They may be moving coins to hedge or to trade into other tokens. The point is their behavior now carries more weight than before.

Who Is Moving Coins

Reports have disclosed that one large wallet tied to Garrett Jin, nicknamed the “Hyperunit whale,” moved nearly 10,000 BTC toward Binance around the same time other big transfers appeared.

Multiple independent addresses also sent large sums, which suggests this was not a one-off event by a single actor. When many big holders move at once, the odds of a bigger market reaction rise.

Traders on both sides may tighten their positions. Liquidity can dry up fast when a cluster of large orders hits an exchange order book.

Possible Outcomes And What To Watch

Some of the inflows into Binance could be destined for custody, not sale. Some might fund margin trades or options hedges.

Reports say rising whale deposits do not automatically equal immediate selling pressure. Still, the risk of increased volatility is real.

Featured image from Unsplash, chart from TradingView

Peter Thiel and entities tied to Founders Fund have fully exited ETHZilla, the publicly traded Ethereum treasury play that once marketed itself as a proxy bet on corporate ETH accumulation. A Schedule 13G/A filed Tuesday shows the reporting group finished 2025 with no remaining common shares, wiping out a position that had been closely watched across both crypto and small-cap equity circles.

Thiel Exists Ethereum Treasury Play

The amended filing, dated Feb. 17, 2026, is unusually blunt on the current footprint: “Aggregate amount… 0.00. Percent of class… 0.0%. Ownership of 5 percent or less of a class.” The positions are reported as of Dec. 31, 2025, meaning the exit was completed by year-end.

PETER THIEL EXITS ETHEREUM DAT “ETHZILLA” AMID $ETHZ TOKENIZED JET ENGINE FOCUS: FILING pic.twitter.com/nnMeT32LQ4

— Aggr News (@AggrNews) February 18, 2026

That zeroed-out line item is a sharp contrast to what Thiel-related vehicles disclosed just a quarter earlier. In a prior Schedule 13G/A reporting holdings as of Sept. 30, 2025, Thiel was listed with 928,389 shares beneficially owned, representing 5.6% of the class at that time, with additional blocks attributed to Founders Fund entities. The same filing noted the company’s 1-for-10 reverse stock split effective Oct. 20, 2025, with reported share counts adjusted accordingly.

ETHZilla’s story arc matters because it tried to translate the Bitcoin treasury template into an ETH-native wrapper at a moment when public-market vehicles were being pitched as liquid, leverable on-ramps to digital asset exposure. Thiel’s initial involvement, widely reported as a 7.5% stake disclosed in August 2025, helped legitimize that pitch, at least briefly.

More recently, ETHZilla has been signaling a pivot away from a pure ETH-treasury identity and toward tokenized real-world assets, including aviation. In an 8-K tied to a Feb. 12 press release, the company said its subsidiary launched “Eurus Aero Token I,” describing it as “a tokenized real-world asset instrument” that gives exposure to aircraft engines on lease “through tradable digital tokens representing contractual revenue rights.”

The sequencing leaves traders with an uncomfortable, unresolved question: did Founders Fund’s exit precede (and implicitly front-run) the strategy shift, or was it simply a portfolio cleanup after the initial “ETH treasury” narrative cooled?

On X, one commentator framed Thiel’s timing as part of a broader pattern, though several of the post’s claims go beyond what’s in the SEC filing. The account @treebook78 called Thiel a “master at sensing crises,” writing that he “dodged this current dip too,” and arguing he’s an “exit master” who gets out early when bubbles or stress build.

“Back in 2022, he posted diamond hands on SNS telling people to hold Bitcoin forever, but then he quietly sold everything and avoided the Luna crash and FTX collapse (as I recall),” @treebook78 wrote.

At press time, Ethereum traded at $1,984.

With shifting narratives and waning ETF flows, the Ethereum price remains under heightened bearish pressure, keeping it just slightly below the $2,000 level. While price has declined sharply, Bitmine Immersion does not seem to be swayed by the pullback as the company makes another big strategic bet on the leading altcoin.

Bitmine Doubles Down On Ethereum With A $91 Million Investment

Institutional sentiment and interest in Ethereum are starting to show signs of renewed strength, with the recent large purchases of the altcoin. At the heart of this underlying strength is Bitmine Immersion, a leading ETH treasury company, following its most recent significant ETH buy.

Amid this renewed bullish sentiment, a post published on the X platform by Milk Road, a macro expert and investor, shows that Bitmine is doubling down on its long-term future by acquiring another stack of ETH worth over $91 million. Even as market volatility continues to intensify, the treasury firm is still scooping up the altcoin at a massive rate, suggesting a strategic approach.

Milk Road highlighted that the purchase was made despite the firm sitting on $8 billion in unrealized losses. The broader sentiment may still be fragile, but Bitmine continues to choose accumulation over caution as indicated by its steady purchase last week, ramping up 45,759 ETH at roughly $1,989 per token within the period.

Following its latest ETH purchase, Bitmine Immersion’s crypto holdings now boast a total of 4.37 million ETH. Interestingly, this figure represents approximately 3.6% of Ethereum’s entire circulating supply controlled by a single entity.

Considering ETH’s current price, the value of this massive stash is averaging down. Currently, the firm’s blended cost basis is sitting at the $3,821 level, which implies that a 90%+ bounce from the recent price levels is required to break even and flip the firm back into profit. 

ETH Staking Now The Primary Means Of Generating Yield

In the meantime, their strategy remains on generating yield from their ETH staking while they wait, transforming a position that is now weak into useful capital. Over 3.04 million of their ETH is locked away in staking, which is the major long-term unlock. 

Bitmine’s crypto holdings are not just made up of Ethereum. They also hold Bitcoin, $670 million in cash, and stakes in the Beast Industries run by the biggest and most popular YouTuber, Mr. Beast; a move that could see ETH get integrated into his new financial app.

Ethereum investors, especially retail holders, now have a publicly traded company with major skin in the game advocating for the altcoin’s success, and stress-testing whether Strategy’s MSTR model translates to ETH. With a single firm essentially locking up 3.6% of the supply with no plans to sell, this is known as a structural supply reduction that could play a role in shaping the market outlook.

At the time of writing, the price of ETH was trading at $1,998, demonstrating a nearly 2% rise over the past day. Within the same period, its trading volume has increased by more than 7%, according to CoinMarketCap’s data.