Ethereum Price Holds Steady as Tom Lee’s BitMine Executes Largest ETH Purchase Since June

Ethereum’s price is grinding steadily, but this quiet movement masks a much louder signal underneath. BitMine Immersion Technologies, the crypto treasury vehicle chaired by Tom Lee, has just executed its largest single ETH purchase since June.

BitMine acquired 53,501 ETH, valued at $131 million, pushing its total holdings to 5,901,112 ETH. At a reference price of $2,511, this stack is valued near $14.8 billion. This represents 4.9% of Ethereum’s entire circulating supply, placing the firm 98% of the way toward its self-described “Alchemy of 5%” target.

BitMine Adds 53,501 ETH as Holdings Reach 5.90M ETH
BitMine said it acquired 53,501 ETH over the past week, bringing total holdings to 5,901,112 ETH, or about 4.9% of Ethereum’s supply. The company has staked 5,067,309 ETH, roughly 86% of its holdings, with projected annualized… pic.twitter.com/LN80Wu7wLi

— Wu Blockchain (@WuBlockchain) August 31, 2026

This accumulation does not happen in a vacuum. ETH momentum has been building since early August, and the technical picture now hinges on whether this institutional bid is sufficient to force a breakout.

Can Ethereum Price Hit $3,000 This Week?

ETH is consolidating around $2,450, within a range bounded by a low of $2,444 and a high near $2,485 over the past day. This tight action is notable for a coin absorbing a nine-figure institutional purchase. The price is consolidating inside a rising wedge just below the critical $2,550 resistance level, which has already rejected two separate breakout attempts.

Below, support clusters form at the 20-day EMA ($2,293.75), Supertrend ($2,212.19), 200-day EMA ($2,161.32), and 100-day EMA ($2,036.88). The price is currently holding above all four, creating a constructive if imperfect setup.

The best-case scenario involves a clean break above $2,550, which would open a path toward $2,800. Alternatively, the price could continue chopping inside the wedge while BitMine’s weekly buying provides a soft floor.

However, the bear case emerges if another rejection at $2,550 sends the price back toward the $2,161 200-day EMA. This level is worth watching before positioning either way.

LiquidChain Targets Early Mover Upside as Ethereum Tests Key Levels

BitMine’s conviction validates the ETH accumulation thesis, but at a $2,459 price point and a market cap exceeding $296 billion, the doubling and tripling that early ETH holders experienced years ago is no longer realistically on the table. This mathematical reality is pushing traders further down the risk curve toward infrastructure plays still in price discovery.

The ceremony starts with a single word. pic.twitter.com/vudkt5bEzI

— LiquidChain (@getliquidchain) August 31, 2026

LiquidChain ($LIQUID) is one of the projects capturing this flow. LiquidChain is a Layer 3 infrastructure project that fuses Bitcoin, Ethereum, and Solana liquidity into a single execution environment. It offers a unified layer where developers deploy once and reach all three ecosystems, rather than fragmenting liquidity across chains.

The presale is priced at $0.014951, with $960K raised so far. Core features include Single-Step Execution and Verifiable Settlement, aimed at solving the liquidity fragmentation problem that has plagued cross-chain trading since its inception.

Research LiquidChain before the round progresses further.

Discover: The Best Token Presales

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