Altcoins News

Story: Ethereum gains fresh momentum as Bitmine buys $113M ETH and ETF inflows hit $380M

By Sakamoto Nashi

1 / 15

Bitmine’s $113M Ethereum purchase signals renewed confidence. On October 29, blockchain data revealed that Bitmine executed a large Ethereum purchase worth $113…

2 / 15

ETF inflows surge to $380 million after two weeks of outflows. Ethereum’s market sentiment was further boosted by renewed institutional demand through spot and…

3 / 15

The Fusaka upgrade strengthens Ethereum’s fundamentals. Beyond capital inflows, Ethereum’s development roadmap continues to make progress.

4 / 15

Technical picture: ETH consolidates near $4,000 before the next move. At press time, ETH was trading close to $4,000 within a narrow consolidation range.

5 / 15

Institutional and retail sentiment align. The alignment between institutional and retail sentiment has been a crucial driver in Ethereum’s…

6 / 15

Outlook: Can Ethereum reach $7,000?. While Ethereum’s fundamentals are strengthening, the path to $7,000 will depend on global…

7 / 15

Ethereum [ETH] has once again captured investor attention after a wave of bullish activity across institutional and on-chain fronts.

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On October 29, blockchain data revealed that Bitmine executed a large Ethereum purchase worth $113 million, adding significant liquidity to its holdings.

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According to on-chain analytics platform Santiment, transactions exceeding $1 million in ETH spiked sharply following Bitmine’s purchase, marking one of the busiest whale…

10 / 15

The transaction also coincided with ETH’s rebound toward $4,000 — a psychological and technical level that has acted as both resistance and support over the past few months.

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These inflows indicate that investors are regaining confidence in Ethereum’s long-term outlook following the market’s brief cooling earlier in October.

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ETF inflows often act as a proxy for institutional sentiment, reflecting both direct and derivative exposure to Ethereum’s ecosystem.

13 / 15

Beyond capital inflows, Ethereum’s development roadmap continues to make progress. The upcoming Fusaka upgrade, which recently went live on the Hoodi testnet, is expected to…

14 / 15

Fusaka represents one of Ethereum’s most important updates since the Dencun fork, focusing on improving scalability, transaction throughput, and gas efficiency.

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This upgrade is critical for Ethereum’s Layer-2 ecosystem, as it will improve rollup performance and significantly reduce congestion during peak usage periods.

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