BitMine's $81M ETH Buy Spurts Retail Interest in Ethereum

BitMine entities have accumulated ~5.85M ETH (~4.8% of supply) and staked ~5.07M ETH through MAVAN, earning a 7-day yield of 2.67%. This recent accumulation comes after BitMine bought ~32,447 ETH worth $81 million in the past few days.

ETHUSD spot prices are seeing significant activity, with retail buy orders jumping ~300% on Webull over the past 10-11 days following the removal of the pattern day trading rule. The staking ratio has surpassed 35%, and more than 42M ETH is now staked.

The total market capitalization of ETHUSD stands at $106 billion, while DeFi TVL is around $50 billion. Stablecoin cap exceeds $147 billion. Analysts have been pointing to potential price targets of $50k, $100k, and $200k for ETHUSD.