The total amount of Ethereum held by companies with cryptocurrency reserves has risen to 3.04 million ETH, valued at $13 billion, as cryptocurrency prices surpassed $4,300.
On Monday, Ethereum (ETH) climbed to $4,332, up 20.4% over the past week, according to CoinGecko. At the time of writing, ETH has slightly retreated, hovering around $4,290. The increase in ETH is attributed to companies increasing their holdings over the past 30 days.
BitMine Immersion Technologies tops the list of ETH reserve holders, raising its holdings to 833,100 ETH, with a staggering 410.68% increase in ETH holdings over the past 30 days.
SharpLink Gaming follows closely, holding 521,900 ETH, with a 141.69% increase in reserves during the same period, while The Ether Machine's holdings grew by 8.01%, reaching 345,400 ETH.
These three entities account for more than half of the ETH held by the top ten ETH reserve companies, which collectively hold 2.63 million ETH, approximately 2.63% of the total supply of the asset.
This week's price increase has significantly boosted the value of corporate ETH holdings.
Last Monday, BitMine purchased 208,137 ETH, bringing its total to 833,100 ETH. At that time, these assets were valued at around $2.9 billion, as ETH hovered around $3,700.
With ETH trading at about $4,300, BitMine's holdings are now valued at over $3.58 billion, making it the first company to hold over $3 billion in ETH.
On Tuesday, digital asset company SharpLink increased its holdings to 521,900 ETH after acquiring an additional 83,562 ETH.
At that time, SharpLink's holdings were valued at approximately $1.91 billion. With ETH prices surpassing $4,300, the company's ETH is now valued at over $2.23 billion.
The ETH reserve data tracker Strategic ETH Reserve (SER) shows that SharpLink Gaming has realized over $671 million in unrealized gains from its Ethereum investments.
On August 3, The Ether Machine purchased 15,000 ETH, coinciding with Ethereum's tenth anniversary. According to SER data, it added another 10,600 ETH to its reserves on Sunday. It now holds 345,362 ETH, valued at nearly $1.5 billion, maintaining its position among the top three holders.
In addition to these top companies, there were smaller purchases last week. On Friday, HashKey Exchange announced that Hong Kong-listed company IVD Medical purchased ETH worth HKD 149 million (approximately $19 million) from the trading platform. However, the actual amount of ETH was not disclosed.
Overall, SER data shows that 64 reserve companies holding ETH collectively own 3.04 million ETH, valued at over $13 billion at current market prices.
Related: As Bitcoin (BTC) and Ethereum (ETH) recover, crypto ETP inflows reach $572 million
Original article: “As Ethereum Price Surpasses $4,300, ETH Corporate Holdings Surge to $13 Billion”
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