Ethereum price is on the verge, with the Ethereum Foundation beginning a new treasury staking plan worth about $140 million. The move came as Bitmine also expanded its Ethereum treasury and raised its total holdings to 4.535 million ETH. Together, both updates added fresh attention to Ethereum’s supply, staking activity, and near-term price outlook. The Ethereum Foundation said it started with a deposit of 2,016 ETH. It plans to increase that amount to about 70,000 ETH over time. Bitwise Onchain Solutions is developing and maintaining the open-source tools used for the initiative. At the same time, Bitmine said it bought more ETH during the recent weakness and kept building its treasury strategy. Ethereum Foundation Starts ETH Treasury Staking The Ethereum Foundation said it will use Dirk and Vouch for its treasury staking program. These open-source tools were originally built by Attestant, which Bitwise acquired in 2024. Bitwise said the software supports stronger security, better resilience, and wider client diversity. Dirk works as a distributed signer across different jurisdictions. This setup helps reduce the risk of one failure stopping validation. Vouch supports multiple client pairings and aims to reduce broader network risks. The foundation said it began with 2,016 ETH and plans to stake about 70,000 ETH. Bitwise Head of Onchain Solutions Sreejith Das said, “Seeing the Ethereum Foundation adopt these tools for its own treasury is validation.” Bitwise CTO Hong Kim said the selection showed confidence in the firm’s open-source infrastructure. The plan also adds another source of staking demand as Ethereum price traders monitor supply conditions. Bitmine Expands Holdings as Staking Becomes a Larger Focus Amid the ETH Foundation moves, Bitmine has added to its ETH holdings, reaching 4,534,563 ETH as of March 8. The company valued that position at $1,965 per token. It also reported 195 Bitcoin, $1.2 billion in cash, and two equity stakes. Those holdings lifted total crypto and cash assets to $10.3 billion. The company said its ETH position now equals 3.76% of total supply. Bitmine added that it remains over 75% of the way to its 5% supply target. Chairman Tom Lee said the firm bought 60,976 ETH in the past week. He said that pace was above its recent weekly average. Bitmine also said 3,040,483 ETH are now staked. Based on its own valuation, that stake equals about $6.0 billion. Lee said annualized staking revenue reached $174 million. He added that full-scale staking could raise yearly rewards to $259 million. Ethereum Price Forecast Amid Accumulation Ethereum’s price outlook now reflects both treasury accumulation and technical support levels. The Ethereum Foundation’s staking plan reduces liquid supply from its treasury holdings. Bitmine’s continued buying also adds another layer of demand during a weak market phase. Bitmine’s Tom Lee said crypto may be in the late stage of a “mini-crypto winter.” He cited DeMark Analytics, which pointed to a possible bottom between March 8 and March 14. He said Bitmine used that view to increase ETH accumulation slightly. That approach linked treasury growth directly to the current price setup. Source: X Analysts on X also shared bullish signals. Jonathan Carter said Ethereum rebounded from ascending channel support on the weekly chart. He listed recovery targets at $2,350, $2,800, $3,550, $4,700, and $5,700. Concurrently, crypto analyst Ali Charts earlier this week noted that the MVRV pricing bands placed ETH near levels that had matched past market bottoms. Consequently, analysts are forecasting an ETH price recovery to its highs if the bearish momentum wears off. At press time, the Ethereum price was trading at $2,010.78, a 4.5% jump from the 24-hour low.
