Ethereum Has Lost All of Its 2025 Gains and Hit Its Lowest Level Since Last April

Cryptocurrency

Ether has fallen by 66% from the high it reached last summer.

Ethereum ($ETH) has hit a new yearly low and completely erased the gains driven by purchases from Tom Lee’s BitMine and other public companies that created digital asset treasuries (DATs) based on the altcoin. The price of Ethereum fell below $1,700 for the first time since April 2025.

As of 09:00 GMT on 5 June, $ETH was trading at around $1,660. Over the past 24 hours, it has fallen by 6.6%, and by 66% from its high last August.

BitMine began buying $ETH in June 2025 and now owns almost 4.5% of all existing coins. Around the same time, several similar projects appeared under a comparable model, backed by well-known crypto investment firms and executives or senior managers of key Ethereum ecosystem projects, including Consensys.

Dozens of companies began accumulating $BTC, $ETH and other major cryptocurrencies following the example of Michael Saylor’s Strategy. Most of these projects were launched between May and September 2025, and they entered the market during the same period.

Since then, however, cryptocurrency prices have fallen sharply. Their total market capitalisation has halved from its October peak, falling from $4.28 trillion to $2.16 trillion.

Because of Ethereum’s price decline in recent months, BitMine’s unrealised loss now exceeds $9 billion. The average purchase price of $ETH in its reserve is above $3,400. That is twice as high as the altcoin’s current price.

A day earlier, it became known that BitMine intends to raise up to $300 million through a preferred share offering. The project filed to issue 3 million shares with a par value of $100 and an annual yield of 9.5%.

Strategy had previously begun using a similar fundraising strategy, but at the beginning of the month it reported that it had sold part of its Bitcoin reserve to pay dividends on preferred shares.

After Strategy’s Bitcoin sales, Standard Chartered analysts said that Ethereum had begun to outperform Bitcoin. They argued that Ethereum treasuries have stronger prospects and that the leading altcoin’s role in DeFi is so significant that it will support price growth.

Bitcoin has fallen less than Ether over the past 24 hours, declining by 2.5%. Relative to the leading cryptocurrency, the price of $ETH has fallen by 4.7% over the same period.

See also: "Zcash Fell 48% After a Critical Network Vulnerability Was Fixed"

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