Ethereum news

BitMine Immersion Technologies added 40,613 ETH to its treasury in the week ended Feb. 8, bringing total holdings to 4.33 million ETH (≈$9.2 billion). This moves it to 72% of its 'Alchemy of 5%' target, 3.58% of circulating ETH, achieved in six months. The firm also holds 193 BTC, $200 million stake in Beast Industries, $19 million in Eightco, and $595 million cash. About 2.9 million ETH (≈$6.2 billion) are staked, yielding $202 million annual revenue, a 7% weekly rise. A forthcoming MAVAN staking platform could lift rewards to $374 million per year.

Bitmine Immersion Technologies, chaired by Tom Lee, added 40,613 ETH last week, bringing its holdings over 4.3 million tokens worth roughly $8.7 billion at the week's closing price above $2,000. The move comes amid a sharp ETH slump from $2,300 to $1,700 before a rebound to $2,000. Despite the dip, Bitmine remains deeply underwater, with a $7.8 billion loss on ETH purchased at an average price of $3,826. About 2.9 million tokens are staked, earning an annualized yield of $202 million, and the firm views the price correction as an attractive buying opportunity.

A wallet linked to the $50 million Infini exploit has re‑activated nearly a year after the breach, buying $13.3 million worth of Ether during last week’s market dip. The move follows a record liquidation event that wiped $2.56 billion of leveraged positions, and shows the exploiter is still actively trading the stolen proceeds, despite a Hong Kong lawsuit filed against the attacker.

ENS has scrapped its planned Layer‑2 Namechain rollout, opting instead to upgrade its registry on Ethereum’s mainnet. The decision follows a 99 % drop in ENS registration gas costs and the Fusaka upgrade’s 60‑million gas limit, which is expected to rise to 200 million by 2026. Lead developer nick.eth said the improved L1 scalability makes a dedicated L2 unnecessary; ENSv2 will still support L2 names and cross‑chain registration flows while adding new features such as a modular registry and better name‑expiration handling.

Trend Research sold its entire Ethereum position, moving 651,757 ETH (≈$1.34 billion) to Binance at an average price of $2,055, wiping out roughly $750 million in losses. The firm had built a $2.6 billion leveraged long on Aave, repeatedly borrowing stablecoins against ETH collateral and re-investing, which brought the position close to liquidation as the price fell. The exit highlights divergent approaches amid ETH's 32% monthly decline. While Trend Research chose to unwind to avoid forced liquidation, BitMine has increased exposure, buying $42 million of ETH. Analysts say ETH may be near a bottom, with potential recovery in Q2 2026, but the outcome remains uncertain.

Ether fell below $2,000, wiping a $2 billion leveraged bet by Trend Research into a $686 million loss. The firm had borrowed stablecoins from Aave to back a long ETH position, but a slide to $1,750 on Feb 4 triggered large liquidations and collateral shrinkage. Trend Research liquidated roughly 332 k ETH to repay Aave debt, leaving only 1.463 ETH on hand. Founder Jack Yi framed the sale as a risk‑control measure while maintaining bullish outlooks for ETH and BTC in a future bull market.

ENS Labs announced it will not develop its app-specific Namechain Layer 2 and will launch ENSv2 exclusively on Ethereum mainnet, citing lower gas costs and the platform's faster L1 scaling. The decision follows Vitalik Buterin's recent shift away from a rollup-centric scaling roadmap; Ethereum's base layer now handles more traffic while L2s have struggled to decentralize. ENSv2 will add hierarchical registries and L2 interoperability, using lessons from Namechain to improve cross-chain name registration and simplify user experience.

Ethereum fell below $2,000 on Feb. 6 after co‑founder Vitalik Buterin and other whales sold millions of ETH, adding to a market rout driven by leverage unwinding, ETF outflows and macro risk‑off. Buterin’s 6,183‑ETH sale, part of a pre‑announced fund‑rollout, was modest relative to daily volume but amplified narrative fear. The crash stemmed from heavy liquidations, record‑level selling, and institutional withdrawals of about $2.5 billion from US spot ETH ETFs. While individual whale moves cannot alone break the price, they reinforce a self‑fulfilling cycle that pushes smaller traders to exit, deepening the decline.

Coinbase's crypto-backed loan product suffered $170 million in collateral liquidations last week as Bitcoin slid 17% and Ethereum 26%, with 2,000 users losing almost $90 million on Thursday alone. The product, launched last year, has now originated $1.8 billion in loans; Coinbase says it alerts users every 30 minutes and over-collateralizes positions, but the losses underscore the risks of integrating DeFi into its 'everything exchange' strategy.

Ethereum fell almost 29% in the last week, dropping below $2,000 to levels last seen nine months ago. On‑chain data shows rising realized losses over $1.2 billion in 24 hours and net outflows from long‑term holders, indicating widespread panic selling. Despite the slide, technical indicators suggest a potential reversal: ETH sits above $1,796 support, MFI is below 20, and oversold conditions may trigger a short‑term rally that could bring the price back above $2,000 and restore confidence.