Ethereum hits new multiyear high as Tom Lee's BitMine plans $20B ETH raise

Ether price action targets all-time highs amid excitement over BitMine’s giant accumulation plan, shifting the focus away from rangebound Bitcoin.

Key points:

Ether gains nearly 6% on the day as BitMine ups its ETH accumulation plans to nearly $25 billion.

Chairman Tom Lee gets Michael Saylor comparisons as analysis says ETH price action is “defying gravity.”

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