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Bitmine's Aggressive Bet on Ethereum Sets Stage for $3,000 Price Target

Guavy AI Editorial Team
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ETH NFT
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Bitmine is making another aggressive bet on Ethereum, as fresh on-chain activity suggests the company is getting closer to its goal of owning 5% of the entire ETH supply.

The buying comes as Ethereum has gained more than 30% in a week, with analysts pointing to stronger fundamentals and a possible shift in ETH's market dynamics.

This significant increase in price is largely due to a recent surge in demand for Ethereum, which has been fueled by the growing adoption of decentralized finance (DeFi) applications and non-fungible tokens (NFTs).

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