## Introduction:
Stay up-to-date with the latest Ethereum news as we delve into the on-chain activity indicating a significant ETH purchase by Bitmine Immersion and SharpLink Gaming. Discover how these treasury companies are impacting the ETH market and what factors are influencing the price movement.
## Bitmine Immersion Adds Over $200 Million in ETH:
Bitmine Immersion, with the backing of renowned investor Tom Lee, has made waves in the Ethereum market by acquiring a substantial amount of ETH. Reports suggest that Bitmine Immersion has injected over $200 million worth of ETH into their treasury, signaling confidence in the cryptocurrency’s future value.
## SharpLink Gaming Enters the Ethereum Space:
On the other hand, SharpLink Gaming has also joined the ranks of major ETH holders by making a significant purchase. The move by SharpLink Gaming underscores the growing interest of various industries in adopting Ethereum and utilizing its decentralized capabilities.
## Price Momentum Triggered by On-chain Activity:
The surge in ETH price following these large-scale purchases by Bitmine Immersion and SharpLink Gaming has been attributed to the positive on-chain activity. This bullish momentum comes in the wake of the US Producer Price Index (PPI) data indicating a controlled inflation rate, which has further boosted market confidence in Ethereum.
## Conclusion:
This latest development in the Ethereum ecosystem highlights the ongoing evolution and adoption of ETH across different sectors. The significant ETH purchases by Bitmine Immersion and SharpLink Gaming serve as a testament to the growing interest and confidence in Ethereum’s potential as a valuable asset. Stay tuned for more updates on Ethereum news and market trends.