Crypto
Ethereum Price Sees Boost as BitMine Scoops Up $24.3M in ETH
Ethereum's price has been consolidating near $1,880 and is expected to reach $2,000 as institutional buying and increasing on-chain activity provide a positive outlook for the market.
The recent acquisition of $24.3 million in ETH by BitMine contributes to the bullish sentiment, but the TradingView chart suggests more momentum is needed for Ethereum to reach its target price.
Ethereum's trading volume has remained high, and open interest on the cryptocurrency continues to hold around $25 billion, according to CoinGlass data. The CryptoRank monthly returns data shows ETH gaining 18.5% in July and rising 0.82% in August so far.