Ethereum Price Climbs 3% After BitMine’s Massive $259M Stake, Analyst Prdict A Rally to $4k

The Ethereum price has surged 3% in the last 24 hours to trade at $3124 on a 48% drop in the daily trading volume to $12 billion.

That came after BitMine Immersion Technologies added 82,560 Ether (about $259 million) to Ethereum’s staking system. This brings their total staked ETH to 544,064 Ether, worth roughly $1.62 billion.

The company made several big deposits in the past few hours, showing growing interest from institutions in earning yield through staking.

BitMine started staking ETH on December 26, when it moved about $219 million worth of Ether into staking contracts. In November, the company said it would officially start staking in early 2026 using its Made-in-America Validator Network (MAVAN).

They began with a small pilot, testing three institutional staking providers to check performance, security, and reliability before expanding. This large staking push has made Ethereum’s validator entry queue grow to around 977,000 ETH, with new validators waiting about 17 days to become active.

Ethereum Staking Hits 29% of Supply

Withdrawals are much lower, with only about 113,000 ETH waiting to exit. Currently, more than 35.5 million ETH—about 29% of the total supply—is staked, with an annual yield of around 2.54%.

Abdul from Monad noted that the last time entry and exit queues flipped in June, Ether’s price doubled, suggesting 2026 could be a big year for ETH.

Meanwhile, BitMine chairman Tom Lee is asking shareholders to approve a huge increase in authorized shares to 50 billion. This would allow future stock splits if Ether’s rising price boosts the company’s valuation.

Ethereum Price Eyes Breakout Above $3,150 as Buyers Defend Key Support

The 4-hour Ethereum chart shows that ETH is gaining strength and could move higher. Price has been forming a parabolic curve, which usually signals a strong upward trend.

After dropping in late December, Ethereum found a major support level around $2,700–$2,800, where buyers stepped in and the price stabilized. This created a solid base for the next potential rally.

Right now, ETH is trading at $3,107, just below the recent resistance near $3,150–$3,160. The chart also shows that the price has bounced off the support zone several times, proving that buyers are defending this level. This makes the current setup more likely to push the price up if it breaks through the resistance.

ETHUSD Analysis Source: Tradingview

The RSI (14) is about 67.8, which is close to the overbought zone. This means Ethereum is showing strong buying momentum, but there could be a small pullback before the price moves higher. Overall, the RSI confirms that the market is bullish.

Ethereum Bullish Momentum Builds Above $3,150

If ETH breaks above $3,150–$3,160 with strong buying volume, it could move toward the next target near $3,400–$3,450, which matches the top of the previous parabolic move. Traders should watch the breakout carefully to see if it holds.

In short, Ethereum is showing strong bullish momentum with a solid support base at $2,700–$2,800. The price is moving along a parabolic curve, and a breakout above $3,150–$3,160 could lead to a significant upward move toward $3,400.