Bitmine purchased an additional 25,000 ETH valued at $47.98 million, signaling continued institutional accumulation of the leading smart contract platform, according to on-chain data tracked by Lookonchain.
The accumulation activity extends beyond Bitmine, with notable market participants repositioning holdings across multiple assets. James Fickel transferred 10,000 ETH ($18.6 million) to Coinbase Prime, while Galaxy Digital executed a 179,000 HYPE withdrawal from Coinbase valued at $12.62 million, as documented by on-chain monitors.
Separately, a newly identified wallet accelerated HYPE liquidation, withdrawing 135,824 HYPE ($9.73 million) in a single transaction. This activity brought the wallet's cumulative two-day outflow to 399,730 HYPE worth $28.92 million, indicating sustained selling pressure on the token despite broader institutional ETH accumulation patterns.