Ether Machine Buy 15K ETH, Overtake Ethereum Foundation
The Ether Machine, wey dem form by join Ether Reserve wit Nasdaq-listed Dynamix dis year, don buy 15,000 ETH for like $3,809 each, total $56.9 million, e make their holding reach 334,757 ETH, pass Ethereum Foundation wey get about 234,000 ETH. Dem take private placement money fund di business, and e still hold $407 million wey dem reserve for buy more ETH. Now, e be di third biggest institutional ETH holder after Bitmine and SharpLink Gaming. The Ether Machine plan say dem go make money through staking, liquidity provision, and ecosystem funding. After di announcement wey jam with Ethereum tenth anniversary, ETH climb 1.5% to $3,862 as institutional demand rise. Di firm dey expect to finish im Q4 SPAC merger and list on Nasdaq with ticker ETHM, dem dey target $1.6 billion IPO and more than 400,000 ETH by di listing date.
Bullish
Dis big big institutional buy by The Ether Machine dey show say demand for ETH from big institutions don dey increase, and e don already make price rise by 1.5% plus market vibes better. For short time, the buying pressure plus the good price response dey show say momentum dey go up. For long run, the plan for SPAC merger, Nasdaq listing under ETHM, and tactics for staking, liquidity and ecosystem funding dey tell say dem go keep stock and support ETH market growth, wey make the outlook strong and bullish.