Hupzy (Spot On Chain)|Jun 10, 2026 00:06
๐ Tom Lee's Bitmine has accumulated another 75,000 ETH (~$123M) from Kraken and FalconX over the past 8 hours โ bringing total known holdings to ~4.59% of supply, targeting 5%.
On-chain: https://arkm.com/explorer/address/0x08CB8987Eae059893132c481Df31a41fcd7e5DE5
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: A single entity systematically targeting 5% of total ETH supply is a structural demand signal. OTC execution via Kraken and FalconX suggests a patient, non-price-sensitive buyer โ this isn't a market buy that moves spot. If the 5% target is reached, it removes a meaningful chunk of circulating supply. The flip-side risk: any pause or partial unwind from this position would create real sell-side overhang.
--source: https://x.com/lookonchain/status/2064496366345417048
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