In Brief
- Bitmine invests $279.6M in ETH amid $232.3M ETF outflows led by BlackRock.
- Ethereum stablecoin supply hits $180B, marking a new all-time high in 2025.
- Over 16,000 new developers joined Ethereum this year, reinforcing network dominance.
Bitmine purchased $279.6 million in Ethereum, signalling strong institutional accumulation despite recent ETF outflows. This significant buy contrasts sharply with the $232.3 million in ETH ETF outflows on October 17, 2025.
BlackRock led the redemptions, withdrawing $146.1 million, followed by Fidelity with $30.6 million and Bitwise with $20.6 million. These outflows reflect short-term risk reduction among institutions amid Ethereum’s struggle to hold the $4,000 level.
The sell-off coincided with price volatility, but such heavy outflows often mark local lows when selling pressure fades. Meanwhile, Bitmine’s sizable accumulation suggests high-conviction buying amid temporary market weakness.
Ethereum’s price remains resilient, currently trading at $3,879.62 after a 3.87% 24-hour gain and a 1.21% weekly increase. This recovery points to renewed bullish sentiment, even as minor intraday pullbacks suggest profit-taking around resistance.
Developer Growth and Stablecoin Milestones Support Bullish Outlook
Ethereum’s ecosystem continues to grow rapidly, with over 16,181 new developers joining from January to September 2025. This figure outpaces Solana (11,534) and Bitcoin (7,494), reinforcing Ethereum’s lead in blockchain development.
The Electric Capital Developer Report highlights Ethereum’s strong network effects across Layer 1 and rollups. With more builders, liquidity, and users, Ethereum remains the primary hub for Web3 innovation and adoption.
In addition, Ethereum just recorded a new all-time high of $180 billion in stablecoin supply. This milestone reflects increasing usage and trust in Ethereum for real-world value transfer and on-chain finance.
Technical analysts point to strong support between $3,600 and $3,700, with resistance near $3,875–$3,920 currently being tested. A break above $4,000 could confirm a trend reversal, while failure may lead to a retest of lower supports.
Combined signals from price action, developer activity, and market structure suggest Ethereum remains positioned for continued strength in Q4 2025.
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Source: https://coincu.com/analysis/ethereum-rebounds-as-bitmine-buys-279m/