Following a recent decline in the cryptocurrency markets, Tom Lee and his firm BitMine make notable forecasts and actions regarding Ether.
Tom Lee's ETH Prediction
Tom Lee, managing partner at Fundstrat Global Advisors, anticipates Ether (ETH) to bottom out near $4,300 and rally towards $5,400. He made these predictions on platform X, stating he expects the bottom to occur 'in the next few hours.'
BitMine Expands Its Holdings
Complementing Lee's bullish stance, BitMine Immersion Technologies added 4,871 ETH worth $21.3 million during the market dip. This increased the total of their holdings to 1.72 million ETH, valued at $7.5 billion.
Comparing ETH and BTC in Corporate Treasuries
BitMine controls about 40% of the 4.3 million ETH held by corporate treasuries globally. In contrast, Bitcoin treasuries are primarily dominated by Michael Saylor's company, which also bought more assets this week.
Tom Lee's predictions and BitMine's strengthening position in managing Ether underscore current trends in the cryptocurrency market amid volatility.
