Ether Eyes $2,000 as BitMine Buying and Robinhood Chain Fuel Rally

Ether has climbed 15% in five days, pulling away from the $1,500 low it touched on June 26. The rebound comes as Ethereum’s Glamsterdam upgrade nears completion and institutional buyers keep adding to their holdings, raising hopes the token can retest the $2,000 mark.

BitMine’s Buying Spree Props Up Support

BitMine Immersion Technologies has been one of the biggest forces behind Ether’s steadier price action. The company added 325,000 ETH over the past month, pushing its total stash to 5.74 million ETH, even while sitting on roughly $8 billion in unrealized losses. BitMine remains focused on its goal of controlling 5% of Ether’s total supply, and that steady accumulation has helped hold the $1,500 support line.

Glamsterdam Upgrade And Robinhood Chain Add Momentum

Ethereum’s upcoming Glamsterdam upgrade, still in testing, aims to speed up transaction processing and expand the network’s data capacity, a move seen as key to attracting more institutional activity. Alongside this, Robinhood launched its own Ethereum layer-2 network on July 2, built on Arbitrum technology. The platform now offers tokenized stock trading in over 120 countries and has linked up with DeFi platforms including Uniswap, 1inch and Morpho.

Mixed Signals In Options Market

Options traders remain cautious. The put call skew on Deribit sits at a 9% premium favoring puts, down from 15% the previous week but still reflecting some hesitation. Despite this, growing real-world adoption and network upgrades are giving traders reason to expect further gains.