On August 18th, COINOTAG reported insights from renowned crypto expert AB Kuai.Dong, highlighting the current dynamics in the *Ethereum* market. Despite a notable **9% correction** from the weekend peak, two prominent *Ethereum* reserve firms continue to exhibit *profit-taking strategies*. As per the latest figures, the prevailing price of Ethereum stands at **$4,331**. Firm BMNR, which has a cost basis of **$3,827**, enjoys a **13.8% profit**, translating to an impressive total of **$679 million** in gains. Similarly, SBET, with a cost basis of **$3,571**, boasts a robust **22% profit**, resulting in a total profit of **$571 million**. As the week progresses, market participants keenly await potential updates from both entities regarding further *Ethereum* accumulation, which may signal future market trends.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024