Ethereum's price is stabilizing around $2,980 after retreating from recent highs of $3,300. The cryptocurrency's open interest remains robust at over $38 billion, indicating strong market positioning and potential for volatility. Notably, Bitmine has increased its holdings by purchasing 44,463 ETH for $130 million, bringing its total to 4.11 million ETH. This accumulation reflects ongoing institutional interest, even as Ethereum experiences a pause following a volatile month. Traders are closely monitoring the market for potential breakouts or further pullbacks, with open interest and corporate acquisitions influencing short-term market sentiment.