Ethereum Price Falters Below $2K Amid BitMine's Record Investment

Ethereum's price is currently stuck below the psychological barrier of $2,000, but recent developments may indicate a potential breakout. BitMine, an investment firm, has made a significant investment in the asset, acquiring an additional 51,162 ETH for $98 million.

This move has increased BitMine's holdings to 4.42 million tokens, equivalent to 3.66% of the total Ethereum supply. The firm now holds a substantial stake in the cryptocurrency market, which may signal its confidence in Ethereum's future performance.