BitMine Adds $60M In Ethereum as Market Recovers while $SUBBD Presale Heats Up

Ethereum's price is currently facing significant downward pressure, with bearish candles indicating a potential for further correction towards key lower support levels. This trend follows a recent decline below the $2,700 mark, raising concerns about the cryptocurrency's stability and market position.

BitMine has significantly increased its Ethereum holdings by adding nearly 70,000 Ether last week, bringing its total to over 3% of the entire ETH supply. This acquisition, valued at approximately $60 million, comes during a period of market recovery despite the company facing substantial unrealized losses of around $4 billion.

Enso has announced its full integration and support for the Monad mainnet launch, providing developers with immediate access to decentralized finance (DeFi) tools and liquidity from the outset. This integration is expected to enhance the functionality and accessibility of the Monad platform for users and developers alike.

Michael Saylor has reiterated his commitment to Bitcoin amidst a significant price drop, with Bitcoin sliding towards the $80K–$85K range, raising concerns among leveraged traders and prompting warnings of a potential market crash. Saylor's company, Strategy, holds over 649,000 BTC, which remains profitable on paper despite the recent volatility.

This week, Ethereum's landscape was shaken as Vitalik Buterin's RISC-V proposal faced rejection from Arbitrum developers, while Tom Lee reported a significant $3.5 million loss on his investments. Additionally, a mysterious buyer made headlines with a $1 billion bid, creating a tumultuous environment for traders.

BitMine has significantly expanded its Ethereum holdings by purchasing 21,537 ether tokens, despite facing a challenging market characterized by declining stock prices and substantial unrealized losses. This acquisition reflects the company's ongoing strategy to accumulate Ethereum amid adverse market conditions, as reported by analytics platform Lookonchain.

Bitwise Chief Investment Officer Matt Hougan has indicated that the rising value capture of crypto tokens, particularly with Ethereum's upcoming Fusako upgrade, may contribute to a market rebound in 2026. This upgrade is expected to enhance the economic value proposition for Ethereum holders, potentially increasing returns significantly.

Aerodrome, the largest decentralized exchange (DEX) on the Ethereum Layer 2 network Base, reported a suspected front-end compromise on November 22, prompting an investigation into the attack and advising users to avoid their centralized domains.