Ethereum (ETH-USD) traded near $3,018 on Monday as institutional giants signaled massive long-term confidence in the network’s future. In a monumental move, BitMine Immersion Technologies (BMNR), now the world’s largest corporate Ethereum (Ether) holder, staked 342,560 ETH worth over $1 billion in just 48 hours.
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This aggressive lock-up of supply is part of a broader trend where public firms are ditching the “buy and hold” strategy in favor of active treasury management, effectively turning their crypto reserves into high-yield, dividend-paying machines.
BitMine’s Billion-Dollar Stake Floods the Validator Queue
The sheer scale of BitMine’s move has caused a major flippening” in Ethereum’s network logistics. For the first time in six months, the validator entry queue has expanded to nearly double the size of the exit queue.
As of Monday morning, approximately 745,619 ETH is waiting in line to be staked, creating a 13-day wait time for new participants. This backlog suggests that for every one entity looking to sell their stake, two more are fighting to lock theirs up for the 3% to 5% annual yield (APY).
SharpLink and The Ether Machine Maximize Passive Rewards
BitMine isn’t the only corporate giant treating Ethereum like a productive asset. SharpLink Gaming (SBET), the second-largest corporate holder with 859,853 ETH, revealed it has staked “nearly all” of its holdings. The company has already generated 9,701 ETH in rewards, worth roughly $29 million, since launching its strategy in June.
Similarly, The Ether Machine, which manages a $1.49 billion treasury, announced that it is “fully staked” on-chain. These firms are effectively removing millions of tokens from the open market, reducing the “sellable supply” and creating structural upward pressure on price.
Smart Money Sells While Whales Scoop Up the Dip
Interestingly, while corporate treasuries are locking up billions, the industry’s “Smart Money” is taking a more cautious approach. According to Nansen blockchain data, top-performing traders sold a cumulative $4.26 million in spot Ether over the past week.
However, this selling was easily absorbed by “Whale” wallets, which bought a massive $11.6 million during the same period. This disconnect suggests that while short-term traders are taking profits at the $3,000 level, long-term institutional buyers and public figures are viewing any dip as a buying opportunity.
Key Takeaway
The bottom line is that Ethereum is becoming the “Internet Bond” of corporate finance. By locking up billions of dollars to earn a 5% yield, companies like BitMine and SharpLink are proving that ETH is a productive treasury asset. As more of the total supply moves into the validator queue, the “liquidity crunch” could be the primary catalyst that pushes Ethereum back toward its all-time highs in 2026.
At the time of writing, Ethereum is sitting at $2,929.82.
