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The Ethereum value is up 4% within the final 24 hours, buying and selling at $3,122, as every day buying and selling quantity jumped 119% to $24.5 billion.
This comes as Tom Lee, chairman of Ether-focused firm BitMine, needs shareholders to approve a giant enhance within the firm’s approved shares, from 50 million to 50 billion. He says that is wanted in case Ethereum’s value rises sharply and BitMine wants to separate its inventory sooner or later.
Lee defined that BitMine’s share value carefully follows Ethereum. He believes ETH may sooner or later attain $250,000 if Bitcoin hits $1 million. If that occurs, BitMine shares may rise to round $5,000 every, which might be too costly for many retail buyers.
To maintain the inventory reasonably priced, Lee says BitMine would wish to do a big inventory break up, presumably 100-to-1, to convey the share value again to round $25. That form of break up would require billions of shares to exist. He harassed that approving extra approved shares doesn’t imply the corporate will situation them straight away, it solely permits flexibility sooner or later.
BitMine shifted from Bitcoin mining to an Ethereum treasury technique in 2025. The corporate now holds over 4 million ETH, price greater than $12 billion, and has began staking ETH to earn yield.
8/These splits will enhance whole shares excellent.
Thus, BitMine can solely break up shares sooner or later if the full approved shares is elevated
– see chart under– the rise in approved shares is required
Preserve studying 📖… pic.twitter.com/4yCPGkeBjC
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 2, 2026
Many individuals on social media criticized the plan, saying it seems to be dilutive and pointless proper now. Lee responded that the transfer is supposed to cope with “unit bias,” the place buyers give attention to cheap-looking share costs as a substitute of long-term worth.
Ethereum Holds Above $3,100 as Bullish Momentum Strengthens
ETH/USDT value motion exhibits a transparent bullish construction on the 4-hour chart, supported by sturdy momentum. ETH is buying and selling across the $3,120 degree, persevering with a gentle restoration after spending a number of weeks in a consolidation section.
The chart highlights a serious assist zone between $2,700 and $2,850, labeled as a consolidation space. This zone acted as a robust base the place patrons repeatedly stepped in, stopping additional draw back. Value revered this assist a number of instances, displaying sturdy demand and confidence from patrons.
From this space, ETH started forming greater lows, signaling a shift from bearish strain to bullish management. A visual parabolic curve on the chart exhibits a gradual however regular upward transfer. This sample suggests accumulation slightly than a sudden spike, which is commonly more healthy for sustained beneficial properties.
ETH has now damaged above the important thing psychological degree at $3,000, which is performing as short-term assist. Holding above this degree is essential for the bullish pattern to stay legitimate.
ETHUSD Chart Evaluation. Supply: Tradingview
On the upside, the chart exhibits a transparent resistance zone round $3,400 to $3,500. This space beforehand rejected value and will decelerate the subsequent transfer greater. If ETH maintains momentum above $3,100 and quantity stays sturdy, a retest of this resistance zone is probably going. A clear breakout above it may open the door for a stronger rally.
The RSI (14) is at present round 78, inserting ETH in overbought territory. This means sturdy shopping for momentum but additionally suggests the potential of a short-term pullback or sideways consolidation earlier than the subsequent upward transfer.
An overbought RSI doesn’t imply an instantaneous reversal, however merchants ought to anticipate temporary corrections. ETH stays bullish as the worth stays lengthy above the $3,000 assist degree. Any short-term dips towards assist may entice patrons, retaining the broader upward pattern intact.
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