Another $142M Staked – Bitmine Tightens Its Grip on Ethereum Supply
NewsBTC·60-word summary·1 min read
Ethereum’s supply dynamics are shifting as Bitmine stakes 61,232 ETH ($142M), locking 68.24% of its holdings, signaling confidence in Ethereum’s long-term value. This massive staking reduces liquid supply, supporting ETH’s consolidation below $2,400. The move indicates a strategic, long-term view, with the company actively locking assets rather than selling, impacting Ethereum’s supply and market sentiment.
Crypto analyst Daphne suggests consistent small daily investments in XRP and Bitcoin could lead to significant gains by 2030. She advocates dollar-cost averaging, emphasizing discipline and personal custody. With Bitcoin near $78,900 and XRP at $1.45, supporters believe steady investing could outperform most market timing strategies, potentially reaching Bitcoin’s $1 million target and boosting long-term wealth.
Bitcoin neared $80,000 on April 23, as it surged past $77,500 and reached a high of $79,490. The cryptocurrency is consolidating above $77,200, with resistance at $78,500 and potential for further gains if it stays above key support levels. A close above $79,200 could push Bitcoin toward $80,000, attracting fresh buying interest.
In April, Bitcoin's price dipped below $60,000, but traders' expectations of a further decline have decreased, indicating a shift in market sentiment. Despite geopolitical tensions, the odds of a significant drop are now lower as traders price out the possibility of a major dip. This suggests increased confidence in Bitcoin's stability amid ongoing market volatility.
Bitcoin is trading around $78,286, below the $79,000 resistance, signaling a consolidation phase after a sharp rebound. Market data indicates profit-taking and a rotation into a supply zone, suggesting traders are cautious. The decline from the all-time high of nearly $126,038 is about 37.89%, but the market shows signs of stabilization.
Iran plans to charge Bitcoin fees for ships passing through the Strait of Hormuz, with BTC trading at around $78,328, up 2.71%. The move signals increased geopolitical interest in crypto, amid broader tensions and blockchain discussions. Support levels are at $76,132, with resistance at $78,935, as Iran explores crypto's role in regional trade.
Charles Schwab has launched Bitcoin and Ethereum trading with a 0.7% fee per trade. The move, announced in April 2026, aims to boost demand for cryptocurrencies and influence market dynamics and advisor strategies. This marks Schwab’s entry into direct crypto trading, potentially impacting the broader digital asset landscape despite ongoing debates about long-term value.
