Quick Facts:
- 1⃣ BitMine Immersion bought the Ethereum dip as it acquired 203,826 $ETH recently, growing its Ethereum holdings to 3,236,014 $ETH.
- 2⃣ With its latest purchase, BitMine remains the largest Ethereum-focused corporate treasury in the world.
- 3⃣ Investors have been expanding their search for the best altcoins as they seek opportunities in the current downturn, helping pump the Best Wallet Token presale.
- 4⃣ Best Wallet Token has raised over $16.6M so far, making it one of this year’s top crypto fundraisers.
There’s no stopping BitMine Immersion in its quest to hold 5% of the total Ethereum ($ETH) supply. The treasury company bought the dip over the past week, emerging a winner in the recent market downturn.
The company has acquired over $800M-worth of $ETH since last week, bringing its total holdings to 3,236,014 $ETH. As it stands, it’s still the largest Ethereum treasury company, with Sharplink at second with 838,728 $ETH.
But it’s not just Ethereum that’s making a lot of noise as of late, as institutions go on a buying spree and snap up the best altcoins at a steep discount. Among these is Best Wallet Token ($BEST), whose ongoing presale continues to pump.
Market Downturn ‘An Attractive Risk/Reward’
In a statement released yesterday, BitMine Chairman Tom Lee said that the current drop in the price of Ethereum represents ‘an attractive risk/reward.’
This comes as the altcoin’s value had slid sharply below $3,700, not long after hitting $4,740 in the first week of October.
Lee added that the company’s acquisition of an additional 203,826 $ETH yesterday brings its holdings to 2.7% of the coin’s total supply.
‘We are now more than halfway towards our initial pursuit of the ‘alchemy of 5%’ of ETH,’ he said.
Bitmine’s latest acquisition extends its weekly Ethereum purchases that stretch back to August this year. It also signals the firm’s bullishness on the market’s second-most valuable cryptocurrency despite current headwinds.
This reignites retail traders’ hope for Ethereum, but also related tokens within the ecosystem. Aide from $ETH, investors have also trained their eyes on other attractive deals in the current market climate.
New crypto projects, in particular, have gotten a lot of attention, since they offer predictable price increases throughout tiered presales — a valuable thing in today’s volatile market.
Among these projects, Best Wallet Token ($BEST) has positioned itself as one of the best altcoins at the moment.
Best Wallet Token Continues Its Growth in the Current Downturn
Best Wallet Token ($BEST) has several things going for it: real utility, steady price increases through presale stages, and an extremely affordable entry for early adopters.
First, the utility. Considering the wild dips we’re seeing in the current crypto market, traders have a growing preference for tokens with real utility rather than speculation. And Best Wallet Token delivers.
It is, after all, the native token of the Best Wallet app — a multi-chain, self-custody crypto app with over 500K downloads in app stores.
Within this wallet ecosystem, $BEST holder enjoy exclusive perks, such as lower transaction fees, governance rights, and early access to the best crypto presales through a proprietary Token Launchpad.
For a full crypto token guide, see our ‘What is Best Wallet Token’ page.
Then there are the price increase stages throughout the presale. Buying tokens early gives investors the change to enjoy a steady appreciation throughout upcoming stages as the fundraiser progresses.
It can even get better for long-term HODLers, as $BEST has the potential to reach $0.072 by the end of the year, giving it the potential to jump nearly 180% according to our Best Wallet Token price prediction.
Finally, there’s the affordable price. At the moment, $BEST tokens sell for $0.025825, which makes it a very cheap investment, considering the perks you can enjoy as a token holder.
The option to stake tokens means an additional staking reward, currently 79% p.a., which is well above even what the best bluechip crypto liquidity pools offer. Take note, though, that staking rewards are dynamic and can drop as more investors stake their tokens.
Want to join the $BEST presale? Our detailed guide on how to buy Best Wallet Token will take you through the entire process.
With over $16.6M raised so far, holder perks, and an extensive roadmap including wallet ecosystem expansion and DeFi integration, Best Wallet Token is undoubtedly one of the hottest crypto fundraisers of the year.
But with a little over a day until the next price increase, now’s the best time to get your share of this emerging crypto gem.
Get Best Wallet token to join the ecosystem.
Disclaimer: Do your own research. This is not investment advice, and crypto remains a volatile market with no guarantees.
Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/best-altcoins-bitmine-buys-ethereum-dip
