Ethereum Dips as Bitmine Reveals Significant ETH Holdings
Ethereum (ETH) experienced a slight decline on October 5, 2026, with its price dropping by 0.74% to $2,710.20. The cryptocurrency opened at $2,730.52 and reached a 24-hour high of $2,738.83 before settling at its current price. The trading volume over the past 24 hours was 192.28K, with a turnover of 522.65M.
In related news, Bitmine Immersion Technologies (BMNR) announced that its Ethereum holdings have reached 6.02 million tokens, representing 4.9% of the total ETH coin supply of 122.1 million. The company also reported total crypto and cash holdings of $17.4 billion, highlighting significant growth in its asset base.
Meanwhile, Cardano (ADA) surged by about 11% on the same day, while Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) saw only modest gains of around 1%. Analysts noted a potential 'Sunday pump, Monday dump' pattern for Bitcoin, Ethereum, and Solana (SOL), suggesting short-term sell signals.
Additional updates included the SEC approving a 3x fix for Bitcoin and Ether traders and Elon Musk's announcement about renaming SpaceXAI to SpaceXSI. The market also reacted to preliminary talks between Musk and TSMC on the Terafab Chip Project, as well as ongoing legal disputes between Qualcomm and Arm.