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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, desires shareholders to approve an enormous improve 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 intently 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 want to do a big inventory break up, probably 100-to-1, to convey the share value again to round $25. That sort of break up would require billions of shares to exist. He pressured that approving extra approved shares doesn’t imply the corporate will situation them immediately, 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 improve complete shares excellent.
Thus, BitMine can solely break up shares sooner or later if the full approved shares is elevated
– see chart beneath– the rise in approved shares is required
Hold 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 dilutive and pointless proper now. Lee responded that the transfer is supposed to take care of “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 robust 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 part.
The chart highlights a significant help zone between $2,700 and $2,850, labeled as a consolidation space. This zone acted as a robust base the place consumers repeatedly stepped in, stopping additional draw back. Value revered this help a number of instances, exhibiting robust demand and confidence from consumers.
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 moderately than a sudden spike, which is commonly more healthy for sustained good points.
ETH has now damaged above the important thing psychological degree at $3,000, which is appearing as short-term help. Holding above this degree is vital 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 robust, 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, putting ETH in overbought territory. This means robust shopping for momentum but additionally suggests the opportunity of a short-term pullback or sideways consolidation earlier than the subsequent upward transfer.
An overbought RSI doesn’t imply a right away reversal, however merchants ought to count on transient corrections. ETH stays bullish as the worth stays lengthy above the $3,000 help degree. Any short-term dips towards help may entice consumers, preserving the broader upward pattern intact.
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