Ethereum price prediction: Buterin bets on store of value as Bitmine adds 9,587 ETH

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Vitalik Buterin wants Ether valued as a store of value rather than a fee-burning token, and Bitmine now holds 4.97 percent of all ETH. Why the price still sits below the 200-day moving average at $2,154 and which levels matter until Friday's expiry.Bitmine holds 6.07 million ETH, almost five percent of the supply.Add as a preferred source on GoogleFollow on Google NewsThe facts first: Ethereum co-founder Vitalik Buterin said on Sunday that Ether should above all convince as a store of value, not through the burning of transaction fees. A day later Bitmine, the largest listed holder of Ether, reported 6,070,092 ETH on its books, or 4.97 percent of all Ether. Our assessment follows further down. The new narrative supports the long-term case, but in the short term it cannot outweigh the outflows from US funds. Ether costs around $2,078 on Tuesday afternoon according to CoinGecko, roughly €1,858. The price fell 2.4 percent in 24 hours, with a daily range of $2,054 to $2,14...