ETH Holds Monthly Support: Is a Multi-Week Pump About to Begin?

Ethereum jumps above $2,000 as Bitmine lifts its holdings to 4.47M ETH and BMNR stock rises 8% amid renewed market activity.

Ethereum reclaimed the $2,000 level on Monday as market activity increased across digital assets, while Bitmine Immersion Technologies expanded its ETH treasury.

The renewed strength in Ethereum supported a sharp rise in BMNR stock, which moved higher during the trading session as traders reacted to both the token’s recovery and Bitmine’s continued accumulation.

BMNR Stock Rises as Ethereum Reclaims the $2,000 Level

BMNR shares moved sharply higher during the March 2 session as Ethereum regained the $2,000 level.

Trading data shows that the stock rose 8% intraday, with prices reaching a high of $21.02 before settling slightly lower.

The move came on increased trading activity, as more than 18 million shares changed hands across the session.

The stock’s rise followed Ethereum’s 4% move back into the $2,030 range.

The crypto asset had been trading sideways before climbing again, and this shift provided support to companies with large Ethereum exposure.

Traders monitored both assets as market sentiment improved during the session.

Bitmine Immersion Technologies, the firm behind BMNR, recently added 50,928 ETH to its balance sheet.

This increased its total holdings to 4.474 million ETH, valued at roughly $8.9 billion.

The company now controls about 3.71% of Ethereum’s circulating supply as it continues toward its stated goal of reaching 5%.

Analysts Monitor Ethereum’s Monthly Support for Possible Upside

Technical analysts say Ethereum’s ability to remain above monthly support could be important for future momentum.

In an X post, Trader Tardigrade noted that the structure continues to hold, suggesting buyers remain active near this price area.

Market watchers now look for confirmation as volatility persists across major assets.

Traders are assessing whether Ethereum can sustain its recovery and move toward higher levels, or if the asset will return to consolidation.

The price reaction around this support zone remains a key marker for future trend direction.

Market participants continue to track volume, derivatives positioning, and liquidity zones as the asset tests these levels.

With Ethereum holding a crucial structure while broader markets fluctuate, traders are preparing for potential directional moves in the coming weeks.

Related Reading: ETH Crashes 60%, Yet TradFi Doubles Down Hard

Bitmine Expands Its Ethereum Treasury and Staking Strategy

Bitmine’s latest financial update shows a balance sheet of $9.9 billion, combining crypto holdings, cash, and strategic investments.

The company also holds 195 Bitcoin and $868 million in cash, while maintaining additional positions across partner firms.

Ethereum remains central to its accumulation plan, supported by ongoing purchases and staking activity.

Tom Lee’s BitMine has added another 50,928 ETH worth $103 million to its treasury, raising its total Ethereum holdings to 4.47 million ETH.

This now represents 3.71% of the circulating supply, reinforcing the firm’s strategy of aggressively expanding its ETH position as market conditions stabilize.

The company’s ETH-focused strategy continues to attract trader attention, as the size of its treasury has become a notable factor for market observers.

The approach also aligns with the firm’s long-term goal to hold a meaningful share of Ethereum’s total supply.

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