Even though Ethereum Treasury companies have received a lot of criticism, the expert claims that some of it is only partially understandable. Given the substantial growth from 0 to 74 million ETH within 12 months, Waidmann believes the ETH treasury is still massively underappreciated.
Following the purchase, Bitimine’s ETH holdings are valued at a staggering $9.21 billion, which is currently equivalent to 3.75% of the total ETH supply. Furthermore, a huge portion of its ETH holdings, particularly $6.18 billion, is locked away in staking. This marks over 2.5% of the entire ETH supply.
ETH’s Price Next Month Hinges On The Stochastic RSIThe last time the setup occurred, the expert stated that ETH’s price dropped from the $3,400 level to the $1,800 mark. Currently, the same setup and Bollinger Band structure are developing. If ETH holds above $2,000, the pullback will be void. Meanwhile, losing the level will trigger a downside move to the $1,600 mark.
