Ethereum
Why Ethereum is up 1.6% in the last hour
Analysis
Ethereum (ETH) rose 1.6% over the past hour as sentiment improved on reports that Bitmine has been steadily accumulating ETH, adding 41,788 ETH in a large-scale bet that may have supported near-term demand (AMBCrypto). Additional support came from commentary that Ethereum’s network activity has remained steady even amid recent price weakness, helping reassure traders about underlying fundamentals (CoinDesk).
Contributing Factors (2)
Bitmine ‘steadily’ adds 41,788 ETH – Can Ethereum rebound after $10.7B bet?
Why is BitMine buying more Ethereum while sitting on billions in paper losses?
Ethereum builders shrug off ETH decline as network activity holds steady
By several measures, activity on the network remains near peak levels, which has industry leaders plussed about the plunge in ether's price.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.