Tom Lee’s BitMine isn’t just sitting around twiddling its thumbs – no, no. They added another 46,255 ETH to their stash (that’s $200 million, folks). And just for fun, this happened right after they scooped up 202,500 ETH on Monday. So, what’s that total? Oh, just over 2.1 million ETH now, which is worth more than $9.2 billion. No biggie. 🤷♀️
A Story of Wobbles and Whistles
So, Solana [SOL] bigwigs are suddenly like, “Hey, let’s make our own stablecoin!” All because Hyperliquid [HYPE] is out here flexing with USDH, and everyone’s like, “Yeah, we want in on that action.” 🚀
Back in 2021, during the bull market’s grand masquerade ball, these holdings peaked at a measly $60 billion. Now, like an overfed cat stretching after a nap, they’ve leapt to new heights since August. Truly, it seems no one told them about moderation or fiscal responsibility.
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On-chain data reveals the grand spectacle of institutional participation, while long-term holders (LTHs) cling to their coins like a child to a teddy bear. Yet, despite the bullish cheer, technical signals whisper of doom, as a bearish divergence sneaks in like a thief in the night. 🕵️♂️
But pray, what is this masterstroke? A cunning ploy, my dear reader, to allow these hoarding magnates to amass more AVAX without so much as a ripple in the market’s serene pond. 🌊 And what of Avalanche? Why, it shall fund its empire, of course, with ambitions as vast as Dorian Gray’s vanity. Real-world asset tokenization, decentralized finance, custom subnet blockchains-oh, the extravagance! 🎭
The catalyst? A rather intriguing report from the Financial Times. This, dear reader, hints at the Avalanche Foundation’s latest ambition: a mere $1 billion to purchase millions of AVAX tokens at a deliciously discounted price. If that doesn’t sound like a bit of a fantasy novel, where one might question whether the central character’s fortunes are too good to be true, I don’t know what does.
Now, BitMine didn’t exactly shout this from the rooftops, but those clever sleuths at Lookonchain spotted 46,255 Ether waltzing into BitMine’s coffers on Wednesday. 🕵️♂️ No cloak and dagger needed when you’ve got blockchain analytics!
Adding just the right dash of intrigue – and possibly caffeine-induced excitement – VanEck’s top brass have hinted that this shiny new financial unicorn might just gallop its way onto Coinbase’s listing stable. Yes, dear reader, dreams do come true… sometimes.
