MarketPR
Tom Lee's Bitmine pulled 75,000 $ETH — roughly $123 million worth — from Kraken and FalconX over eight hours through over-the-counter execution, according to on-chain tracker Lookonchain.
The buy lifts Bitmine's known holdings to approximately 4.59% of Ethereum's total supply, with the firm having publicly stated a 5% target.
The method matters as much as the size: OTC routing through two institutional liquidity desks minimizes market impact, signaling a buyer indifferent to short-term price signals.
OTC Execution, Not Exchange Momentum The distinction between OTC and exchange buying is structural.
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