Ethereum Surpasses $3,250 As BitMine Coins Recover Over $2B ETH

Ether prices reached their highest levels in more than three weeks as demand for the institution stepped up.

ETH is in recovery mode, with the commodity reaching $3,250 in late trading on Monday, its highest level since December 12.

Ether has now gained 16% since the beginning of this year, which is not even a week old. The winner was Bitcoin, which is up just 6.7% since New Year’s Day.

“Ethereum is still cheap,” said analyst ‘Merlijn’ who noted that it is still in the collecting zone.

“We are not in ‘Take Profit’ mode. We are in Accumulation. HODL. Expansion mode.”

ETHEREUM IS SHIPPING.

Everyone wants to shop in the red…
But wealth is built on blue and green belts.

We are not in a “Take Profit” position.
We have piled it up. HODL. Expansion mode.

Real confidence was built long before the advent of headlines. pic.twitter.com/IhVoUHijDC

— Merlijn The Trader (@MerlijnTrader) January 5, 2026

BitMine Staking Surges

Selling pressure appears to be easing, and demand may increase, driven by renewed interest in Ether staking.

In its latest update on Monday, the largest treasury of the Ether digital asset, BitMine, revealed that it has already held a staggering 2.1 billion ETH in just two weeks.

As of January 4th, the company’s total ETH stood at 659,219, an increase of 250,592 last week.

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BitMine’s share is equal to 1.85% of the total amount of Ethereum deposited in the Beacon Chain, currently 35.6 million.

Its aggressive holding caused the confirmed entry line to rise to 1.3 million ETH, the highest level since mid-November. Meanwhile, the output line has dropped back to July levels, near zero.

BitMine is currently working with three participating providers as the company moves toward unveiling its MAVAN (Made in America VAlidator Network) trading platform in 2026.

“At scale (when Bitmine’s ETH is fully invested by MAVAN and its partners), the ETH holdings amount to $374 million per year, or greater than $1 million per day,” said chairman Tom Lee.

Earlier in January, BitMine asked its shareholders to approve a large increase in its authorized shares.

Grayscale Delivers Staking Rewards

In addition to DATs, strong demand is also coming from US Ether exchange-traded funds.

On Monday, Grayscale became the first crypto ETF to distribute large rewards.

“Spot ETH didn’t even exist a year and a half ago … Now [they’re] to create a *focused* distribution for investors,” said ETF expert Nate Geraci.

“Wild how far the crypto ETF space has come in such a short time.”

Bloomberg ETF analyst James Seyfart said Ether is “doing well considering the performance of the ETH price, but has seen 18% of its movement come out.”