BitMine Increases Ethereum Holdings Following Market Downturn

According to PANews, blockchain monitoring data reveals that BitMine, the Ethereum treasury company led by Tom Lee, has acquired an additional 379,271 ETH, valued at approximately $1.5 billion, since the '10.11 crash' last weekend. Tom Lee, who has previously stated that 'Ethereum will become the backbone of the digital economy,' commented in an interview with CNBC after the close of trading on Friday. He noted that crypto investors are still 'licking their wounds' from the unprecedented leverage impact, but emphasized that the current phase is not the peak of the cycle. Instead, it represents a short-term bottom with efforts underway for recovery.