BitMine and Trump splurged nearly 1.4 billion USD on the weekend to accumulate ETH! On-chain data reveals astonishing Holdings.

As the price of Ethereum (ETH) plummeted from its high of $4,500, two major whale players chose to go against the trend. On-chain data shows that Tom Lee's BitMine and Donald Trump's World Liberty Financial (WLFI) collectively spent nearly $1.4 billion over the weekend to buy the dip on ETH, increasing their bets on this largest altcoin by market capitalization.

BitMine: Holding exceeds 1.3 million ETH

August 15: BitMine spent 470.51 million USD to acquire 106,485 ETH.

Previously, 28,649 ETH (worth 129.88 million USD) and ETH worth 158.47 million USD were purchased in the same month.

Current holdings: 1.3 million ETH (market capitalization of approximately 5.75 billion USD), firmly established as the largest Ethereum asset management company in the world.

Strategic Goal: Hold at least 5% of the total supply of ETH and have submitted a $20 billion stock issuance application to advance the acquisition plan. BitMine's multiple transactions were completed through the Galaxy Digital OTC trading platform, demonstrating its determination to aggressively accumulate at market lows.

Trump Family's WLFI: Continuing the Buy the Dip Strategy

Latest Action: WLFI acquired 1,911 ETH (worth 8.6 million USD)

Background: Eric Trump, the son of Trump, called for "buy the dip" when the price of ETH was at $2,800.

Strategy: Increase positions multiple times during pullbacks and publicly encourage investors to follow.

In the past 90 days, ETH has risen over 66%, with a year-to-date increase of 27%, providing the Trump family's long-term positioning with a decent floating profit.

Other Whales Are Also Taking Action

In addition to BitMine and WLFI, on-chain data also reveals large-scale purchases by a "mystery institution":

· Created three new wallets in the past week and withdrew 92,899 ETH (worth 412 million USD) from a certain CEX.

· On August 17, two new wallets withdrew 25,684 ETH (worth 114.3 million USD) from FalconX.

· At the same time, the Ethereum Foundation has taken the opposite approach, selling 7,294 ETH (worth 33.25 million USD), adding uncertainty to the market.

Market Impact and Future Outlook

Bullish factors: Continuous buying by Whales shows confidence in the long-term value of ETH, which helps provide support when the price falls.

Potential risk: If a large sell-off occurs in the short term, it may exacerbate volatility.

Key observation: Can ETH hold the $4,000 level, and will the Whale continue to accumulate?

Conclusion

BitMine and Trump's WLFI made significant purchases against the trend during the ETH price fall, sending a strong bullish signal to the market. Although short-term volatility continues, the holding strategy of the Whale may become an important driving force for the next round of increases in Ethereum. Investors should closely monitor on-chain capital flows and Whale movements to assess changes in market sentiment. For more real-time market data and in-depth analysis, please follow the official Gate platform.