Ethereum’s Resilience Tested as BitMine’s Massive Treasury Fails to Stem Investor Doubts

Despite holding one of the world's largest ethereum treasuries, BitMine Immersion Technologies (BMNR) saw its shares tumble 12% to $29.06, underscoring a growing divergence between crypto asset holdings and market confidence during periods of turbulence. The company reported combined holdings of $12.1 billion in cryptocurrency, cash, and strategic assets, with its crown jewel being a staggering 3,726,499 ETH, valued at approximately $3,008 per token, cementing its status as the globe's largest corporate Ethereum treasury. This sell-off occurred against a backdrop of recent market contractions, where investor sentiment appears to be shifting from celebrating crypto-heavy balance sheets to scrutinizing them for risk exposure. The decline suggests that even substantial, high-value digital asset reserves are not immune to broader market skepticism, particularly when volatility accelerates. For Ethereum specifically, this event highlights a critical tension: its established value as a treasury asset for corporations like BitMine is being tested by traditional equity investors' perceptions of risk. The situation presents a complex narrative for Ethereum's future—its underlying technology and adoption metrics may remain strong, but its role as a balance sheet stabilizer is now under the microscope. This could influence how other institutions manage their crypto holdings and potentially affect long-term price targets if the 'digital gold' narrative for corporate treasuries weakens. However, for steadfast believers in the asset's fundamentals, such market dislocations may eventually be viewed as buying opportunities, reinforcing Ethereum's long-term trajectory despite short-term equity market mispricings.

BitMine's $12B Crypto Holdings Fail to Halt Stock Slide Amid Market Turbulence

BitMine Immersion Technologies (BMNR) shares plunged 12% to $29.06 despite reporting $12.1 billion in combined crypto, cash, and strategic holdings. The divergence highlights growing investor skepticism toward crypto-heavy balance sheets during market contractions.

The company maintains its position as the world's largest Ethereum treasury with 3,726,499 ETH ($3,008 per token). Recent weeks saw a 40% acceleration in ETH acquisitions, including a 96,000-coin purchase positioning for December's Fusaka upgrade. This network enhancement promises improved scalability and security across Ethereum's ecosystem.

Market observers note the accumulation strategy contrasts sharply with the stock's performance. 'When treasury assets outweigh market cap, either the market's wrong or the assets are mispriced,' remarked Artemis Capital's crypto strategist. The Fed's softening stance on rates offers potential relief, but BitMine must now demonstrate operational leverage beyond token hoarding.

Yearn Finance’s yETH Pool Exploited for $3 Million in ETH, Funds Routed Through Tornado Cash

Yearn Finance’s yETH product suffered a major exploit, draining its entire pool of funds. Attackers minted unlimited tokens and siphoned millions from Balancer pools, ultimately stealing 1,000 ETH (worth $3 million). The stolen funds were laundered through Tornado Cash to obscure their origin.

The breach targeted newly deployed smart contracts designed to self-destruct post-transaction. Yearn confirmed the incident but clarified that its V2 and V3 Vaults remain unaffected. Blockchain data shows the yETH pool held approximately $11 million before the attack.

Heavy transactions on liquid-staked Ethereum derivatives (LSTs) initially raised alarms, with on-chain analysts flagging suspicious activity. The exploit underscores persistent vulnerabilities in DeFi’s composability—particularly when integrating third-party protocols.

Ether Rebounds From Key Support as Traders Eye Remittix for Payment Utility

Ethereum stabilizes NEAR $3,034 after tapping a historic demand zone, signaling potential for upward momentum. The cryptocurrency’s market cap holds at $366.12 billion as buyers defend a critical level that has fueled rallies since 2023. Analysts note ETH’s liquidity sweep could precede a test of the $4,800 resistance area.

Market attention shifts toward altcoins with tangible utility, particularly payment infrastructure projects like Remittix. The project’s development milestones and Ethereum’s recovery are driving speculative interest. Traders increasingly favor assets demonstrating real-world use cases amid broader discussions about smart contract adoption and on-chain activity.

CryptoQuant CEO: Ethereum Undervalued by 60% Across Multiple Models

CryptoQuant CEO Ki Young Ju asserts Ethereum's undervaluation in 10 of 12 valuation models, with a composite fair value pegged at $4,535.1. Metcalfe’s Law suggests a staggering 213% upside, valuing ETH above $9,500, while other models like App Capital and L2 Ecosystem converge between $4,110 and $4,920.

Despite institutional interest and bullish forecasts, Ethereum's price dipped 5% in 24 hours. The analysis leverages ETHVal's multi-method framework, drawing from academia and traditional finance. "ETH is trading at a discount to its fundamental metrics," Ju noted, highlighting asymmetric upside potential.

ZKsync and LNET Partner to Deploy Private RBF Systems in Latin America

ZKsync, the Ethereum Layer-2 network specializing in zero-knowledge proofs, has joined forces with LNET to implement privacy-focused blockchain infrastructure for governments and institutions across Latin America. The collaboration targets Results-Based Finance (RBF) programs, where payouts hinge on verified outcomes—a use case demanding both confidentiality and auditability.

LNET, a nonprofit formerly associated with LACChain, will leverage ZKsync's Prividium technology to create secure execution environments for sensitive data. This partnership marks a strategic pivot for ZKsync, shifting emphasis from governance to practical token utility as institutional blockchain adoption accelerates in LATAM.

The solution enables governments to validate program results without exposing underlying data—addressing a critical need for scalable RBF implementations. zksync provides the foundational zero-knowledge technology while LNET handles application-layer deployment across its regional network.

Bhutan's Sovereign Wealth Arm Actively Manages $497K Ethereum Portfolio

Bhutan's state investment vehicle, Druk Holding and Investments, has transferred 175.44 ETH ($497,000) between sovereign-controlled wallets. The movement confirms ongoing active management of the Himalayan kingdom's digital asset reserves.

The transaction reflects Bhutan's continued crypto strategy initiated in 2019 through state-backed Bitcoin mining operations. On-chain analysts traced the ETH transfer to what appears to be a custody-related address, potentially linked to institutional crypto firm QCP Capital.

As Bhutan's sovereign wealth fund, DHI maintains a mandate to diversify the nation's economy beyond traditional sectors. The recent activity demonstrates institutional-grade portfolio management of digital assets at the national level.