12 Aug 2025, 15:52

Is This Company Behind the Ethereum Rally? The Giant Company Announces a New $20 Billion Move, ETH is Close to Breaking Its Previous ATH!

BitMine, the largest Ethereum (ETH) treasury company, has announced its new move to acquire more ETH. Accordingly, Bitmine, led by market prophet Tom Lee, applied to the SEC to sell up to $20 billion in shares to acquire more ETH. According to Reuters, Bitmine has filed a motion with the SEC to increase its on-market equity program from $4.5 billion to $24.5 billion to fund more ETH purchases. The company initially entered into an agreement with Cantor Fitzgerald and ThinkEquity to sell up to $2 billion of common stock at market price, initially on July 9. On July 24, it filed an amendment with the SEC to increase the offering amount to $4.5 billion. The company recently announced that it has filed a new application with the SEC to increase its stock offering to $24.5 billion. Bitmine, chaired by Tom Lee, emerged as the company with the largest Ethereum treasury with 1.15 million ETH worth approximately $5 billion, continuing its leadership with its Ethereum treasury holdings and becoming the first company to surpass the 1 million ETH mark. Ethereum (ETH) Surpasses $4,400! As whales and institutional investors continue to buy ETH heavily, the price of Ethereum has surpassed $4,400. At this point, ETH is 11% away from breaking its all-time high set in November 2021. Standard Chartered executive Geoffrey Kendrick stated in a recent report that Ethereum treasury companies are “still in their infancy,” will continue to accumulate ETH, and over time, they could increase their holdings tenfold, reaching 10% of all ETH. *This is not investment advice. Continue Reading: Is This Company Behind the Ethereum Rally? The Giant Company Announces a New $20 Billion Move, ETH is Close to Breaking Its Previous ATH!

12 Aug 2025, 15:33

Ethereum Breaks $4,400 as BitMine Expands $20B Offering to Aggressively Acquire ETH

The price of Ethereum has reached a new milestone, surging past the $4,400 mark due to significant institutional buying by BitMine Immersion Technologies. The company, now holding over 1.15 million ETH, announced that it has expanded its equity offering by a staggering $20 billion, bringing its total capacity to $24.5 billion. BitMine’s goal is to acquire up to 5% of the total supply of Ethereum to solidify its position as the largest corporate holder of ETH globally.With this new offering, BitMine plans to continue purchasing large amounts of ETH, replicating the aggressive accumulation strategy first pioneered by MicroStrategy with Bitcoin. In just a few short weeks, BitMine has already amassed nearly $5 billion in Ethereum holdings, with no signs of slowing down.Ethereum Price Soars Amid Institutional FOMOMeanwhile, as BitMine presses forward with its acquisitions, Ethereum’s price has seen a significant uptick. ETH crossed the $4,400 threshold for the first time since 2021, fueled in part by BitMine's buying spree.Notably, Ethereum has experienced a streak of green candles in recent weeks, currently boasting a seven-day gain of 23%, compared to Bitcoin's 6% growth. Optimism is higher than ever that Ethereum will establish a new peak this year. For instance, Tom Lee, chairman of BitMine and co-founder of Fundstrat, has made his bullish stance on Ethereum clear. In a recent podcast, he suggested that ETH could soon outpace Bitcoin in terms of value.Lee is projecting that Ethereum could reach as high as $7,000 to $15,000 by the end of the year. Meanwhile, BitMine believes the price of ETH could reach $60,000 in a few years. The ongoing buying pressure from institutions increasingly fuels this outlook.ETH Treasuries Gaining SteamBitMine’s aggressive accumulation is setting the stage for an "Ethereum MicroStrategy" era, where corporate treasuries continue to pile into the network.Already, numerous institutional investors have disclosed their strategies for continued accumulation and staking of Ethereum.SharpLink and The Ether Machine have been among the leading firms building substantial ETH treasuries alongside BitMine. Just last week, SharpLink announced a $200 million capital raise to purchase ETH tokens.While The Ether Machine's ETH holdings are worth $1.52 billion, SharpLink’s ETH holdings now exceed $2.63 billion. Firms holding Ethereum Meanwhile, the Ethereum Foundation, with over 232,000 ETH, remains dominant in the ecosystem, ranking third among the top holders of ETH.

12 Aug 2025, 15:23

Largest Ethereum Treasury Firm BitMine Immersion Plans $20 Billion Stock Raise To Fund Massive ETH Buying Spree

BitMine Immersion Technology has announced that it plans to raise $20 billion to acquire more of the second-largest cryptocurrency over time.

12 Aug 2025, 15:18

BONK Slides 6% to Test Key Support

BONK fell nearly 6% in the last 24 hours, dropping from $0.00002606 to $0.00002436 in a move that carved out a $0.0000028 range , roughly 10% of its trading spectrum. The decline accelerated after the token failed to hold gains near $0.000027 on Aug. 11, where volume spiked to 1.13 trillion tokens, well above the 24-hour average of 708 billion, according to CoinDesk Research's technical analysis data model. Selling pressure persisted into the morning of August 12, with BONK finding firm support around $0.000024 at 10:00 UTC on 889 billion tokens traded. BONK did see a bounce at the start of U.S. morning, when buyers stepped in and pushed the price up 3% to $0.000025. The rebound signaled possible short-term stabilization after the extended drawdown, forming $0.000024 as a key support to avoiding further downside. The volatility comes the day after Nasdaq-listed Safety Shot disclosed a $25 million corporate treasury purchase linked to BONK ecosystem development through its stake in the Bonk.fun launchpad — a move viewed by some analysts as a sign of increasing mainstream exposure for the meme coin sector. Technical Analysis Trading Range: $0.00002398–$0.00002674, a 10% spread over 24 hours. Resistance: Multiple rejections near $0.000027 on August 11 with high volume. Support: Strong base near $0.000024 on August 12 with 889B tokens traded. Volume Spike: 145B tokens during breakout from consolidation at 12:30 UTC. Recovery Move: 3% gain from $0.000024 to $0.000025 between 11:49–12:48 UTC. Breakout Trigger: Price cleared $0.000025 resistance at 12:22 UTC. Market Context: Bounce follows several days of heightened volatility in memecoins. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .

12 Aug 2025, 15:17

BNB Climbs Above $810 as Buyers Target $815 Resistance

The price of BNB climbed more than 1.5% in the last 24 hours, managing to overcome weakness during the session to move above the $810 mark, up from a low that test its $800 support level. The cryptocurrency is now targeting the resistance level at $815 after buyers helped push its price further upward through multiple smaller resistance points, according to CoinDesk Research's technical analysis model. Ongoing corporate adoption, with CEA Industries recently becoming the largest corporate holder of BNB after a $160 million purchase. Several other companies, including Nano Labs and Windtree Therapeutics, are also moving to establish BNB treasuries. Technical Analysis Overview BNB’s trading over the past 24 hours showed the kind of disciplined price action often associated with institutional accumulation.The token traded within a $22.41 range, from a low of $792.47 to a high of $814.88, with buyers stepping in repeatedly at the $800–$803 level. Those support retests drew consistent volume, suggesting a readiness to defend the zone. Resistance first emerged near $811.71, then again in the $814–$815 area, where algorithmic selling programs added pressure. The turning point came as BNB built a series of higher lows, $800.44, $801.20, $802.47 and $804.08, steadily absorbing sell orders. This sequence was followed by the removal of key resistance barriers at $803.50, $807.20 and $809.50, a pattern market technicians view as a sign of sustained buying interest. A surge in volume at the $800.44 support level sparked a decisive push higher, with a breakout above $804 then occurring. That rally carried the token to intraday highs near $810.57 before settling just below the $815 resistance zone,a level that now stands as the next test for bullish momentum. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .

12 Aug 2025, 13:59

Cosmos Health makes $1M ethereum purchase for treasury strategy