Tom Lee is the biggest ETH defender. With Ethereum falling to nearly $2,000, among the top 20 ETH treasury companies, only BitMine has continued to increase its holdings over the past 30 days. BitMine currently holds 4.29 million ETH, with a market capitalization of approximately $9.74 billion. Not only is it the largest holder among all Ethereum treasury companies, but it also accounts for 3.54% of the total ETH supply. More importantly, it still has $586 million in cash on hand and almost zero debt, leaving significant room for further accumulation. Tom Lee recently stated explicitly: Given the continued strength of Ethereum's fundamentals, this pullback is "extremely attractive," and in the long term, ETH remains a crucial infrastructure for the future financial system, not merely a trading instrument. In contrast, other major ETH holding institutions have largely remained inactive: SharpLink Gaming (SBET): Approximately 863,000 ETH The Ether Machine (ETHM): Approximately 497,000 ETH Ethereum Foundation: Approximately 229,000 ETH Bit Digital (BTBT): Approximately 154,000 ETH When market sentiment is weak, the fact that only one player chooses to continue heavily betting is often more noteworthy than the price itself.