According to @EmberCN, BitMine Immersion Technologies (BMNR) stock has more than tripled in premarket trading after the company secured $250 million to launch an Ether (ETH) treasury. The private placement, which included investors like Pantera Capital and Galaxy Digital, will make BitMine one of the largest publicly traded holders of ETH upon closing. The source notes that Fundstrat founder Thomas Lee has been appointed Chairman of the Board, signaling a strong institutional belief in Ethereum's ecosystem for stablecoins, tokenized assets, and DeFi. This move contrasts with the more common corporate strategy of holding Bitcoin (BTC). In other major developments, Polygon (MATIC) co-founder Sandeep Nailwal has taken over as CEO of the Polygon Foundation, redirecting the project's focus towards its AggLayer cross-chain liquidity protocol and retiring the zkEVM network. Additionally, the Ethereum Foundation has implemented a new treasury policy, capping annual operational expenses at 15% to ensure long-term sustainability, and Bitcoin Core developers confirmed the OP_RETURN data limit will be significantly increased in the upcoming version 30 release.

According to @PeckShieldAlert, Ethereum (ETH) is facing significant price pressure, with current data showing ETHUSDT at $2,549.30 after breaking below the $2,460 support level earlier. This bearish momentum is influenced by a broader market selloff and political uncertainty in the U.S. Adding to the short-term headwinds, U.S. spot Ethereum ETFs recorded their first net outflows of $2.2 million, ending a 19-day inflow streak, as reported by Farside Investors. However, contrasting this bearish sentiment, on-chain data from Santiment reveals that whale and shark wallets have accumulated a massive 1.49 million ETH over the past 30 days. Furthermore, a new trend shows corporations like SharpLink Gaming and BitMine aggressively adding ETH to their corporate treasuries, viewing it as a primary reserve asset. This creates a clear divergence for traders, pitting short-term price weakness against strong long-term accumulation by large holders and institutions.

According to @rovercrc, Nasdaq-listed SharpLink Gaming (SBET), a firm pursuing an Ethereum (ETH) treasury strategy, saw its stock collapse by 70% in after-hours trading. The plunge followed an SEC filing that enables the resale of nearly 58.7 million shares from a private investment round, which could flood the market, as explained by BTCS CEO Charles Allen. However, Allen also speculates on a potential strategic twist, suggesting the company may have quietly raised up to $1 billion via a previously announced at-the-market (ATM) offering to purchase more ETH, potentially leading to a surprise announcement that could reignite the stock. This event occurred as ETH's price slid 4.1% to approximately $2,650 amidst a broader crypto market downturn, even as institutional adoption continues with firms like JPMorgan and Strategy increasing their crypto exposure.

According to @lookonchain, publicly-listed tech company SharpLink Gaming (SBET) has significantly increased its corporate treasury holdings of Ethereum, now totaling 188,478 ETH. The firm reportedly purchased an additional 12,207 ETH for approximately $30.7 million between June 16 and June 20, at an average cost of $2,513 per ETH. This strategic purchase, funded by a $27.7 million at-the-market (ATM) share offering, solidifies SharpLink's position as the largest publicly traded holder of ETH globally. The company also disclosed that it has staked its entire ETH holdings, already earning 120 ETH in rewards. This move, coupled with the appointment of Ethereum co-founder Joseph Lubin as board chairman, signals strong institutional conviction in Ethereum's long-term value proposition and utility, a bullish indicator for traders monitoring corporate adoption.

According to @rovercrc, Ethereum (ETH) is exhibiting a significant divergence between large-scale investors and retail traders. Data from Santiment shows that wallets holding between 1,000 and 100,000 ETH have accumulated a net total of 1.49 million ETH over the past 30 days, while smaller retail wallets have been taking profits. Despite this strong accumulation from whales and sharks, the ETH price has struggled, recently falling to $2,418. This price pressure is attributed to a broader market selloff and the first net outflows from U.S. spot Ethereum ETFs after a 19-day inflow streak, as reported by Farside Investors. However, a counter-narrative is forming on the institutional front, with companies like SharpLink Gaming (SBET) and BitMine (BMNR) aggressively adding ETH to their corporate treasuries. SharpLink increased its holdings to 198,167 ETH, and BitMine is raising $250 million for an ETH-centric treasury strategy. For traders, this creates a complex picture where the key technical support around $2,500 is being tested amidst short-term bearish sentiment, while long-term conviction from major stakeholders and institutions continues to grow.