Ether's price fluctuated between $2,081 and $2,341 over the past week, settling at $2,128 on Tuesday and logging an 8.7% loss for the period, per live data from CryptoAppsy. The market turbulence prompted Bitmine to make its largest weekly purchase yet: 71,672 ETH. In a company announcement, founder Tom Lee stated, "Last week, we added 71,672 ETH to our portfolio. We're continuing to invest in ETH's short-term decline. Bitmine could reach 5 percent of total market supply by 2026." Lee described the recent price drop as an opportunity and reiterated that the company is on track to hit its 5% market share target in the coming months.
Bitmine Expands ETH Holdings, Eyes 5% Market Share
Bitmine now holds over 5.2 million ETH, making it one of the largest Ether-focused treasury companies globally. The firm targets roughly 6 million ETH — equivalent to 5% of the existing circulating supply of about 120.7 million ETH. The approach mirrors MicroStrategy's Bitcoin accumulation strategy under Michael Saylor: buying aggressively during price declines. Lee noted that Bitmine views the current downturn as a favorable entry point and will continue to build its position.
OG Whale Rebuilds Position After Last Year's Liquidation
Blockchain analytics platform Lookonchain reported activity from an "OG whale" — a long-standing major market participant — who began rebuilding an ETH position after liquidating last year. The address purchased 1,951 ETH at a price of $2,182 over the weekend. Lookonchain analysts expect this whale to continue accumulating in the coming weeks, potentially adding downward pressure on available exchange supply.
Mixed Analyst Forecasts: Standard Chartered Sees $7,500
ETH's all-time high of $4,946 was set in August 2025, and the asset has since dropped roughly 57%. Despite the steep decline, some analysts remain bullish. Citigroup’s March analysis projected ETH could rise to $3,175 over the next twelve months, and in a more optimistic scenario driven by stablecoin and tokenization demand, the price could reach $4,488. CoinGecko prediction market data gives a 48% probability of ETH falling to $1,500 by year-end, while the chance of surpassing $3,500 stands at 25%. Standard Chartered is the most aggressive, forecasting ETH at $7,500 by the end of the year. Head of research Geoffrey Kendrick attributed the outlook to rapid adoption of blockchain and on-chain products.