BitMine caps ETH purchases as crypto prices decline amid market volatility

·3 views

Cryptocurrency exchange BitMine announced a new purchase limit for Ether on Wednesday. The price of both Bitcoin and Ether fell significantly during the trading session. Analysts noted that traders who had bet on rising prices were heavily impacted by forced liquidations. The broader market awaits the release of the U.S. Federal Reserve meeting minutes later in the day.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitmine to halt Ethereum purchases after reaching 5% ownership target

Fundstrat's Tom Lee stated that Bitmine will cease its accumulation of Ether upon reaching a 5% ownership threshold. The company began its purchasing program in mid-2025, systematically building its holdings. This strategy has established Bitmine as the world's largest single holder of Ethereum. The planned halt removes a consistent buyer from the market, potentially impacting future demand dynamics.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

GSR invests $100M in onchain vaults for stablecoins and tokenized gold

Crypto trading firm GSR is launching a new vault business focused on institutional finance. The company is committing $100 million of its own capital to this venture. The service will provide onchain vaults for assets like stablecoins and tokenized gold. This move is a strategic bet on the increasing migration of traditional finance activities to blockchain networks.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Swift's Blockchain Network Requires Key Internal Banking Infrastructure, Taurus Warns

Taurus co-founder Lamine Brahimi has stated that banks require specific internal systems before adopting Swift's tokenized deposit network. He explained that these prerequisites include a proprietary permissioned ledger, specialized wallet tools, and smart-contract capabilities. The comments were made during a discussion about the infrastructure needed for Swift's blockchain-based financial services. This highlights a key technical hurdle for traditional banks seeking to utilize Swift's new network for asset tokenization.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Analysts outline potential conditions for Bitcoin to surpass $87,000 mark

Financial analysts have outlined specific market conditions required for Bitcoin to rise above $87,000. This analysis was published by CoinDesk on October 6, 2026, ahead of the trading day on October 7. The report examines factors such as trading volume, market sentiment, and technical indicators. The piece serves as a forward-looking guide for investors monitoring the cryptocurrency's price trajectory.

0 comments Read more at CoinDesk