Bitmine Transfers 86,400 ETH, Signaling Major Market Structure Shift
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 11 2026- Large Transfer: Bitmine's transfer of 86,400 ETH to Ethereum's staking deposit contract, valued at approximately $266.3 million, demonstrates its strong liquidity and confidence in the Ethereum ecosystem.
- Increased Staking Volume: Following this transfer, Bitmine's total staked ETH reaches 1,080,512, worth about $3.33 billion, further solidifying its significant position within the Ethereum network.
- Market Breakout Signal: Ethereum's breakout from a long-standing downward channel, with current prices around $3,090, suggests a potential upward target of $4,400, indicating a notable improvement in market sentiment.
- Long-Term Upside Potential: Ethereum's weekly chart indicates that prices are above a long-term ascending trendline, with future targets projected between $6,448 and $11,567, suggesting further room for growth in the market cycle.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
