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Ether (ETH) is trading at $1,769.48 on June 16, up 3.2% on the day, according to CoinGecko data. The session high of $1,800.32 is the first time ETH has tested $1,800 since the decline from $2,400 began in late April.
The close at $1,769.48 sits $30.84 below the session peak, establishing $1,780-$1,800 as the first meaningful resistance band the recovery has encountered since the June 4-7 cycle low near $1,520.
Bitmine Immersion Technologies reported on June 15 that total ETH holdings reached 5,620,754 as of June 14, representing 4.66% of the 120.7 million ETH circulating supply, with total crypto and cash holdings of $10.4 billion. Bitmine is 93% of the way to its “Alchemy of 5%” target in 11 months and was named to the Fortune Crypto 100 list for 2026, a ranking by Fortune Magazine drawing on data analysis by Inca Digital.
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BitMine provided its latest holdings update for June 15, 2026$10.4 billion in total crypto + "moonshots":
– 5,620,754 ETH at $1,718 per ETH per ETH (per @coinbase)
– 204 Bitcoin (BTC) – $200 million stake in Beast Industries @MrBeast
– $89 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 15, 2026
As of June 14, Bitmine has 4,718,677 ETH staked via MAVAN (Made in America Validator Network), representing 83% of total holdings, at a 2.79% seven-day annualized yield. Projected annualized staking rewards stand at $269 million at full scale, with current annualized staking revenues at $226 million.
Bitmine is the world’s largest ETH staking entity and the second-largest global crypto treasury behind Strategy, which holds 845,256 BTC.
On June 16, Bitmine’s 9.50% Series A Perpetual Preferred Stock began trading on the New York Stock Exchange (NYSE) under the ticker BMNP, per a June 12 announcement, generating $273.8 million in net proceeds from the closing of 3.5 million shares on June 10.
BMNP gives income-seeking institutional capital fixed-yield exposure to ETH treasury operations, partially funded by staking revenues.
Standard Chartered’s Geoff Kendrick, in a May 28 research note, noted that corporate treasuries and spot exchange-traded funds now hold over 10 million ETH combined, with treasury firms alone acquiring approximately 2.3 million ETH since June at a pace nearly double that of comparable Bitcoin (BTC) accumulation phases. More than half of all stablecoins operate on Ethereum, generating approximately 40% of all blockchain fees.
Standard Chartered maintains a $4,000 end-2026 ETH target, per Kendrick’s proprietary research note. The validator entry queue held about 3 million ETH with a 50-day activation wait as of June 12, per ValidatorQueue.com, while the exit queue remained near zero, tightening liquid supply from both directions simultaneously.
The daily ETH/USD chart and technical data from TradingView and the daily ETH/USD chart show four moving averages (MAs) now below the current price: the 10-day exponential moving average (EMA) at $1,731.3, the 10-day simple moving average (SMA) at $1,694.6, the volume-weighted moving average (20) at $1,751.6, and the 20 SMA at $1,779.0.
The Ichimoku Base Line sits at $1,826.1.
The relative strength index (RSI) reads 43.3, the highest reading since the decline from $2,400 began.
The average directional index (ADX) reads 43.5, moderating from the 50.74 peak of June 11.
The moving average convergence/divergence (MACD) at -96.4 continues showing an upward signal for the second consecutive session.
Immediate support sits at the session low of $1,757.96, then the volume-weighted moving average (VWMA) at $1,751.6.
The Hull MA at $1,778.4 is the first resistance to clear on the upside, followed by the $1,800 session high and the 20 EMA at $1,792.8.
The Federal Open Market Committee (FOMC) concludes its meeting on June 17 under new Federal Reserve Chair Kevin Warsh, with CME FedWatch pricing a 98.6% probability of a hold at 3.50%-3.75%.
The risk is not the rate decision; it is Warsh’s dot plot and press conference tone, whether he signals a neutral bias or a hawkish lean that compresses the ETH recovery timeline.
The Russell 1000 reconstitution takes effect June 26, placing an estimated $2 billion-$2.5 billion in passive index inflows behind BMNR shares.
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