ETH rises 0.46% over 15 minutes, supported by expectations of BitMine’s large-scale accumulation and institutional positioning.

From 13:45 to 14:00 (UTC) on August 5, 2026, ETH posted a slight short-term gain over the 15-minute period, with a return of +0.46%. The price ranged from 1,866.49 to 1,879.22 USDT, with an Ampl of 0.68%. The current price is approximately $1,868.45, while the 24-hour Ampl is only about 1.4%. Overall, the market is exhibiting a low-volatility technical consolidation pattern, with bulls and bears locked within the $1,858–$1,885 range.

The main driver of this move was continued accumulation by institutional entities. BitMine recently increased its holdings by 10,399 ETH, bringing its total holdings to 5,797,813 ETH, worth approximately $10.9 billion. This reflects large institutions’ optimistic expectations for ETH’s medium-term supply-and-demand dynamics and provides demand-side support for the price. Meanwhile, BlackRock launched two tokenized money market funds on the Ethereum network, further validating Ethereum’s role as institutional-grade financial infrastructure and creating a bullish backdrop for the medium to long term.

In addition, the EIP-8361 proposal has become a focal point of community attention. The proposal recommends burning verifier rewards when staked ETH exceeds 50% of the total supply. If passed, it would alter ETH’s long-term supply-and-demand structure and could trigger deflationary expectations. Although it is currently only at the draft stage, it has strengthened the long-term bullish narrative. At the same time, the number of unique contracts on the Ethereum chain surpassed 70 million, reaching an all-time high. Network usage continues to grow, providing fundamental support for the price. Order book depth is extremely shallow, with a buy-to-sell depth ratio of 0.87 and the largest bid or ask order totaling only 4.97 units. This means that any medium-sized order could cause a short-term price impact, consistent with the current low-volatility, low-liquidity environment.

The current market is in a directionless consolidation phase. Technically, the daily and 4-hour moving averages are bullish, but ADX readings of 17.57 and 13.99, respectively, indicate weak trend strength, while the MACD shows no crossover signal to confirm momentum. In the short term, attention should be paid to whether the $1,885 resistance level—the 24-hour high—can be broken with increased volume; a breakout could lead to a test of the $1,900 psychological level. On the downside, support is at $1,858, the 24-hour low, and a breakdown could trigger a test of the $1,840–$1,850 range. Progress on the EIP-8361 proposal and BlackRock’s 1:3 reverse split of its ETF on October 1 could become medium-term price catalysts.