The Ether Machine added 15,000 ETHs to its balance with a $ 56.9 million purchase, resumed by long -term accumulation approach, the company announced on Wednesday.
The latest acquisition, made at an average price of $ 3,809 per ether (Eth), pushing the total handling of the company to 334,757 ET, the company Says In a press release, it was noted that it had time together Ethereum’s 10-year anniversary.
“We can’t imagine a better way to commemorate Ether’s 10th birthday than by deepening our promise to Ether,” said Andrew Keys, chairman and co-founder of Ether Machine. “We’re just starting out,” he added.
The ether machine is formed earlier this year With a combination of business between the Ether Reserve and Nasdaq listed in Dynamix Corp. The deal, expected to close the Q4, will see the firm going public under Ticker ETM, with a $ 1.6 billion increase target.
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The Ether Machine becomes the third-largest owner of eth
In this latest purchase, the Ether Machine becomes the third-largest ETH corporation holder, which exceeds the reported by the Ethereum Foundation 234,000 ET, according to StrategicethReserve Data. The firm just rode in Bitmine and Sharplink Gaming.
The Ether Machine still has a $ 407 million reserve for additional purchases, each announcement.
Meanwhile, Keys also donated $ 100,000 to the Protocol Guild, a major web3 funding initiative that supported Ethereum’s major developers and distributed millions to more than 150 contributors.
“The Ethereum proves to be more than a smart contract platform for institutions in recent times – they see it as a foundational infrastructure for the new digital finances,” Ray YouSsef, CEO of Noones, told Cointelegraph.
YouSsef said Ethereum is driving a traditional financial and crypto scene by hosting tokenized assets, onchain payment and institutional precautions, with most of the major finance infrastructure built directly on its network.
Related: ETH NEWS UPDATE: Bulls target $ 3.4K, citing ETF flow and buying treasury as fuel
Corporations will speed up the purchase of ETH
Corporations now accumulate ether twice at the speed of bitcoin (Btc), according to a recent report from the standard chartered. Since early June, Crypto treasury companies Obtained 1% of the total supply of Ethereum.
The bank noted that this climb, along with a strong flow to the US spot ETF ETF, supported Ether’s rally and would help push the price above the $ 4,000 year end. Despite these gains, ETH remains more than 20% below the full time of $ 4,890.
The Standard Charter expects Ether Treasury companies that will eventually control up to 10% of the total ETH supply, which is driven by staking and defi lack of companies dedicated to Bitcoin.
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