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Crypto

Ethereum Price Stuck at $1,880 Amid Institutional Buying and Weak Momentum

Guavy AI Editorial Team
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ETH
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Ethereum's price has been trading in limbo at $1,880, down 3.3% on the day, after slipping from recent highs. The market remains caught between steady institutional accumulation and weak short-term momentum.

BitMine Immersion Technologies is one buyer that has become large enough to influence Ethereum's circulating supply, with its Ethereum holdings reaching 5.79 million ETH, putting it close to its goal of owning 5% of the circulating supply.

The firm's combined crypto holdings, cash, marketable securities, and strategic investments now total $11.8 billion.

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