Tom Lee’s BitMine Nears 'Alchemy of 5%' Ethereum Goal — Is ETH Price in Trouble?

Key Takeaways Tom Lee’s BitMine has accumulated more than 4.2 million ETH, representing 3.48% of supply. Traders are concerned about what will happen to Ethereum when its largest buyer reaches its 5% target. BitMine plans to shift from accumulation to monetization through large-scale ETH staking. Tom Lee’s BitMine is more than two-thirds of the way toward a self-declared goal of owning 5% of all Ethereum in circulation, raising questions among traders about what happens to the asset once its larges ...