Crypto market surge continues as Ether reaches $3,675. It hasn’t hit this level since January. This sharp rise fueled gains in many crypto-related stocks.
BitMine Immersion Technologies jumped 14% in premarket trading. It holds over $1 billion worth of Ether. Bit Digital and BTCS followed, rising 4% and 12.5%.
Crypto Market Surge: Institutional Buying Fuels Growth
In just three weeks, BitMine added more than 300,000 Ether. Their audacious target? obtaining 5% of the total supply of Ether. Investors took notice of this bold action.
The largest investor in BitMine is tech tycoon Peter Thiel. The board is chaired by Fundstrat’s Tom Lee. As a result of these names supporting Ether, market momentum keeps increasing.
Crypto Market Surge: Ethereum Benefits from Stablecoin Growth
Ether gains value as stablecoin usage grows. Most stablecoins rely on Ethereum’s blockchain for transactions. This increases demand for Ether due to network fees.
Matthew Dibb of Astronaut Capital stated that institutional Ethereum buying is mainly driven by stablecoin expansion. Circle’s IPO success played a big role.
Crypto Market Surge: Stocks and ETFs Join the Climb
SharpLink boosted its Ether holdings through stock sales. In addition, It raised an additional $5 billion on top of its current $1 billion plan. The stock rose 5.6%.
Meanwhile, Circle Internet climbed 2.7%, and Coinbase Global gained 2%.
BlackRock’s Bitcoin ETF rose 10% this month. However, the Ether ETF surged nearly 36%, outperforming expectations.
Ether-Linked Stocks Jump as Crypto Coin Hits 6-Month High
This section is based on the article titled “Ether-linked stocks jump as crypto coin hits 6-month high.” by yahoo finance.
The article covers BitMine’s large-scale Ether buying, stablecoin growth, and the U.S. regulatory progress on digital assets.
The crypto market surge reflects rising institutional interest and positive regulation. As Ether outpaces Bitcoin, all eyes remain on Ethereum’s next move.
