Ethereum (ETH) Price: What’s Next for ETH After BitMine’s Latest Buy and JPM Coin News?
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TLDR ETH trades near $2,400 as it struggles to break above the 20- and 50-day EMAs at about $2,504 and $2,483. BitMine bought 12,535 ETH last week, raising its holdings to 6.041 million ETH, or 4.9% of supply. JPMorgan has expanded its JPM Coin to Ethereum mainnet for institutional clients. US spot ETH ETFs saw about $320 million in outflows last week, the third straight week of net outflows. Analyst Ted says spot demand is weak and large buyers may wait for a dip to $2,200-$2,250. Ethereum (ETH) traded near $2,400 on Monday, reversing a small recovery from the early Asian session. The price rose about 1.16% over 24 hours to roughly $2,407, according to one data source. BitMine Immersion (BMNR) bought 12,535 ETH last week, worth about $30.3 million.
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