Ethereum Surges Above $3,250 as BitMine Stakes Over $2 Billion in ETH
Ethereum prices climb significantly, driven by strong institutional interest in staking, particularly from BitMine, which has staked a staggering $2.1 billion worth of ETH in the recent weeks.
Ethereum Surges Above $3,250 as BitMine Stakes Over $2 Billion in ETH
Ethereum has seen its prices rise to the highest level in over three weeks, reaching $3,250 amid increasing institutional demand for staking.
In a recent market update, BitMine, the world’s leading Ether digital asset treasury, declared it has staked $2.1 billion worth of ETH in just two weeks, contributing significantly to the upward trajectory of Ethereum’s price.
Current Market Situation
Ether has gained 16% since the beginning of the year, outpacing Bitcoin, which has only increased by 6.7%. As noted by analyst Merlijn, “Ethereum is still cheap, and we’re not in ‘Take Profit’ territory; we’re in Accumulation mode.”
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BitMine’s Aggressive Strategy
BitMine’s stake now makes up 1.85% of all ETH staked on the Beacon Chain, encouraging a surge in demand for Ether staking. As a result, the validator entry queue has soared to 1.3 million ETH. Tom Lee, Chairman of BitMine, indicated that once fully staked, the ETH staking fee would be closer to $374 million annually.
Grayscale Takes a Lead
Additionally, Grayscale has become the first spot crypto ETF to distribute staking rewards, reflecting the rapid growth in the crypto ETF sector. According to Bloomberg ETF analyst James Seyfart, “Spot ETH ETFs have performed adequately, despite some outflows of 18%.”
With Ethereum’s market showing robust performance and increased staking interest, the outlook for the cryptocurrency remains positive as we progress through 2026.
