Track market-moving stories before they get noisy

Injective releases new whitepaper, focusing on institutional-grade finance and tokenization.

Injective has released a new version of its whitepaper, marking the first full rewrite since the original launch in December 2018. The initial whitepaper centered on a front-running-resistant trading protocol built on Ethereum, while the updated version positions Injective as a Layer 1 blockchain for institutional-grade finance and asset tokenization, covering the full lifecycle of tokenized assets—from issuance and trading to settlement. The whitepaper details a native real-world asset (RWA) tokenization framework that establishes role-based permissions for minting, transferring, receiving, and burning assets. Its iAssets feature leverages stablecoin margin and oracle pricing to offer derivatives tracking external assets, eliminating the need for wrapping or pre-funding. Tokenized assets are traded on a fully on-chain central limit order book (CLOB), with sealed high-frequency batch auctions executed per block to clear at a uniform price, mitigating front-running and transaction-ordering miner extractable value (MEV). Byzantine Fault Tolerant (BFT) consensus delivers deterministic finalization, with block times averaging around 600 milliseconds. The new whitepaper also covers native Ethereum Virtual Machine (EVM) and WebAssembly (WASM) environments sharing a unified state, perpetual contract risk management, and AI agent finance. AI agents can interact with tokenized assets via MCP servers, strategy-constrained signatures, and x402 machine payments denominated in USDC. On-chain protocol revenue will be allocated to regular INJ community buyback programs.

4 minutes ago

The U.S. New York Fed’s 1-year inflation expectation for September came in at 3.9%, exceeding the forecast of 3.64%.

US September the New York Fed’s 1-year inflation expectation comes in at 3.9%, against a consensus estimate of 3.64%, with the prior reading standing at 3.58%.

4 minutes ago

SanDisk and Micron Technology rallied intraday to erase earlier losses, with SanDisk's gain widening to 2.5%.

According to market data from BIT (bit.com), SanDisk and Micron Technology rallied intraday to turn positive. SanDisk’s gain widened to 2.5%, while Micron Technology rose more than 1% after earlier dropping over 3%.

4 minutes ago

Prominent trader Killa remains bullish on Bitcoin, and will look to re-establish long positions in the $80,000 to $82,000 range.

Prominent trader Killa said Bitcoin once again failed to break the $87,000 level, and his previously established 10x leveraged long position was stopped out at the break-even price. This position was an aggressive trend-following trade, with the original expectation that BTC would break through during its second test of the high point, but after the breakout failed, the price returned to the entry level. Killa added that he will next monitor the $80,000 to $82,000 range to look for opportunities to re-establish this 10x leveraged long position. He currently holds long positions opened at $62,600 and $76,400 respectively, and sees no reason to rush into adding new long positions for now. He emphasized that risk management is critical, and his existing BTC holdings are sufficient. Regarding the future trend, Killa maintains his bullish outlook, expecting prices to continue rising. He noted that the current market is in a short-term consolidation phase, and he primarily trades based on longer timeframes.

4 minutes ago

The $99.8 million ETH long position held by "Ma Ji" is nearing liquidation, at a liquidation price of $2501.38.

According to Lookonchain monitoring, amid the market downturn, the 39,025 ETH long positions (valued at approximately $99.8 million) held by the address of prominent crypto investor "Big Brother Ma Ji" (Huang Licheng) are nearing liquidation, with a liquidation price of $2501.38.

4 minutes ago

US Senator Questions Bessent, Demands Explanation for Treasury's 'Unprecedented Intervention' in US Treasury Market

U.S. Democratic Senator Elizabeth Warren has submitted a series of inquiries to Treasury Secretary Scott Bessent regarding the U.S. Treasury Department’s recent "unprecedented and chaotic" interventions in the U.S. Treasury market. Warren asked Bessent to clarify how the Treasury plans to fund Treasury repurchases by reducing its cash balance, and what measures it will take to lower long-term U.S. Treasury yields. She also questioned whether the Treasury has evaluated the impact of rising long-term U.S. Treasury yields on consumer borrowing costs, including auto loan and mortgage rates.

4 minutes ago

Table of contents

Ethereum traded near $2,562 on October 7, down about 5.5% over the previous 24 hours, as U.S. spot Ether ETFs stretched a run of daily redemptions to six consecutive sessions. The latest leg lower came after BlackRock’s iShares Ethereum Trust (ETHA) accounted for the entire $202 million in net outflows on October 6, according to live Ethereum market data and SoSoValue fund-flow figures, while Bitcoin funds drew $119 million over the same session.

The gap between the two largest crypto assets’ fund flows has become the clearest driver of Ethereum’s recent price action, with ETH underperforming bitcoin as institutional money favors the leading asset. Ether is down roughly 5.5% while bitcoin has slipped about 3.2% to near $83,371, and several altcoins have fallen harder.

Why Ether Is Falling U.S. spot Ether ETFs posted $202 million in net outflows on October 6, and a single redemption of $201.89 million from BlackRock’s ETHA made up essentially the whole figure. The withdrawal marked the sixth straight day of outflows from the sector, extending a stretch that has kept consistent selling pressure on the asset’s exchange-traded wrapper.

Spot Bitcoin ETFs moved the other way, drawing $119 million in net inflows led by BlackRock’s IBIT at $122 million. The split suggests the current pressure is more acute in ether than in bitcoin, even though both assets are lower in a broader risk-off session that has pushed major altcoins such as Cardano and Dogecoin down by roughly 7% to 8%.

A wider risk-off tone is compounding the pressure. Bitcoin has held up better than the rest of the market at about 3% lower, while altcoins have borne the brunt of the selling, with Cardano down near 8% and Dogecoin off roughly 7% over the same stretch. That breadth points to a liquidity-driven pullback rather than an ether-specific event, with the ETF redemptions acting as the sharpest ether-specific signal within it.

Ethereum Levels to Watch ETH gave up the $2,600 handle after trading near $2,712 as recently as October 5. That round level now sits as overhead, and the move below it leaves the asset testing a lower part of the range it has occupied over the past week rather than breaking sharply into new lows.

These levels are reference points drawn from recent trading, not forecasts. A recovery back above $2,600 would require a turn in the fund-flow trend, while continued daily redemptions would keep pressure on the $2,500 area that marks the lower end of the recent range.

What Happens Next The most direct signal to watch is the next daily ETF flow print, which typically updates on U.S. trading days. If Ether ETF outflows persist, the sixth-day streak would extend and weigh further on sentiment; if flows turn positive, ether would have a clearer path to reclaim lost ground against bitcoin.

The path back above $2,600 runs through the fund-flow data. A single day of positive Ether ETF flows, especially if ETHA flips to inflows, would break the six-session streak and hand ether a concrete catalyst to retake the level. A continued slide would instead test how much of the recent range’s lower end holds under repeated redemption pressure.

It is worth keeping the reading in context: fund-flow data reflects one cohort’s positioning and does not by itself prove that spot holders are selling. The available evidence shows persistent ETF redemptions coinciding with a softer price, but it does not establish the outflows as the sole cause of the decline in the broader crypto market.

Why is Ethereum down today? Ether is lower as U.S. spot Ether ETFs logged a sixth straight day of net outflows, including a $202 million redemption on October 6 led entirely by BlackRock’s ETHA, while Bitcoin funds drew inflows.

How much did Ether ETFs lose? U.S. spot Ether ETFs saw about $202 million in net outflows on October 6, with BlackRock’s ETHA responsible for $201.89 million of the total, according to SoSoValue data.

Is Ethereum below $2,600? Yes. Ethereum traded near $2,562 on October 7, below the $2,600 level it held earlier in the week, after declining roughly 5.5% in 24 hours.

AUTHOR

A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities

Bitmine, which started accumulating Ethereum during the last bull run, is nearing its target and may stop buying ETH.

Accordingly, Bitmine, the world’s largest holder of Ethereum, plans to halt ETH purchases once it reaches its target of 5% of the supply.

Speaking at the Token2049 event in Singapore, BitMine Chairman Tom Lee made an important announcement that closely concerns the Ethereum (ETH) market. Lee stated that the company will cease new ETH purchases once it reaches 5% of the total Ethereum supply.

Therefore, the 5% target that the company has long pursued will also become an upper limit.

BitMine Has Over 6 Million ETH in its Vault! With BitMine’s latest purchase, the company’s Ethereum holdings have reached 6,016,414 ETH. This amount represents 4.9% of the total supply of approximately 122.1 million ETH. Lee stated that approximately 100,000 more ETH would need to be purchased to reach the 5% level.

Lee stated that BitMine has been purchasing ETH weekly since launching its ETH treasury strategy in June 2025, consistently providing demand to the market.

Lee said the following regarding the halt in ETH purchases: “We made all these purchases during a bear market. By buying, we protected ourselves against ETH’s downward movement. But now, with a 25x move ahead, we’ve stopped stockpiling.”

Tom Lee also stated that if the current pace of purchases is maintained, the company could reach its 5% target in approximately six weeks. Lee added that the majority of purchases were made during a period of weakness in the crypto market, and the company reached its target much faster than expected.

Tom Lee stated that BitMine’s strategy is not limited to simply accumulating ETH, and that once the 5% target level is reached, the company will place more emphasis on generating income by staking Ethereum assets and on share buybacks. Lee added that reaching 5% would eliminate the need for continuous capital increases to acquire new ETH, which would provide a significant advantage for the company.

Lee’s remarks have attracted attention in the market, with analysts noting that ETH may lose a stable buyer.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

A long-term Ethereum investor has captured widespread attention after selling 13,320 ETH for $36.34 million on Coinbase, realizing one of the most extraordinary profits in recent memory. Blockchain data from Arkham Intelligence traced the transfer, which took place approximately seven hours before the disclosure on X/Twitter by crypto analyst Ted (@TedPillows).

The scale of the gainThe investor reportedly purchased their Ethereum at $0.31 per token, a price last seen in 2015. With ETH changing hands at about $2,727 at the time of the sale, the result was a reported 8,750x gain on the position. The wallet had previously sent 15,000 ETH to Coinbase six months earlier—worth $30.97 million then—along with two smaller transfers, signaling a pattern of significant, staggered exits.

At an entry of $0.31 per ETH, the seller achieved a nearly 8,750-fold return, transforming an initial outlay of around $4,150 for 13,400 ETH into tens of millions of dollars.

A community commentator noted that across multiple sales, the wallet maintained an average realized price of $1,137 per ETH for about 170,000 tokens. This series of transactions appears to represent a near-complete liquidation of an original initial coin offering (ICO) allocation.

Mini dictionary: Arkham Intelligence, a blockchain analytics platform that tracks wallet activities and large transactions for cryptocurrencies.

ETH Bought Price (2015)ETH Sale Price (2026)Total ETH SoldTotal USD ValueReported Return$0.31$2,72713,320$36,340,0008,750xCommunity observations and wallet behaviorAnalysts and on-chain investigators closely monitored the technical aspects of the transaction. One observer highlighted that a small 10 ETH “test” was sent to Coinbase shortly before the main transaction, indicating caution and an attempt to verify the receiving address before the larger transfer occurred. Four additional addresses, closely resembling the main deposit address, were used as decoys, possibly as a privacy tactic.

Following the significant sale, the wallet retains 1,484 ETH, suggesting that while the primary holdings have been liquidated, some exposure remains. This pattern fits observed behavior from early adopters who manage exits carefully to minimize market impact and preserve privacy.

The use of multiple practice transfers and decoy addresses drew particular attention from blockchain analysts tracking the whale’s moves.

Holding conviction and timing of exitObservers remarked on the extraordinary conviction required to hold Ethereum through multiple bull and bear market cycles. According to one community member, the seller “bought at $0.31 and never sold through all the volatility, holding like a time traveler.” This level of patience is rare even among early ICO participants.

Several voices in the crypto community commented on the exit point itself. One market participant emphasized that this sale coincided with the first weekly close of ETH above $2,700 in nine months, arguing that the timing demonstrated rational market awareness. In recent months, Ethereum’s social sentiment indicators have notably deteriorated, which may have contributed to the investor’s decision to exit at the next significant rally.

In brief Bitmine chairman Tom Lee said at Token2049 the company will stop buying Ethereum once it holds 5% of circulating supply. Bitmine holds 6,016,414 ETH (about 4.9% of supply) and has bought weekly since June 2025, providing steady demand whose end removes a persistent buyer. The firm sits on roughly $4.5 billion in unrealized losses, having accumulated much of its stash at higher bull-market prices. Bitmine Immersion Technologies is about to take its foot off the gas. Chairman Tom Lee said the company will halt its Ethereum buying once its holdings reach 5% of the token's circulating supply, drawing a hard line under one of the market's steadiest sources of demand.

Speaking Wednesday at the Token2049 conference in Singapore, Lee said the company is roughly 100,000 ETH away from the threshold. At last week's pace, that's about six to seven more weeks of accumulation before Bitmine stops.

Myriad: Where does Ethereum go next? Click to make your prediction."We thought this would take five years," Lee said on stage. "It took us a little over a year. More importantly, we did this all in the middle of a bear market,” he said. “Now we’re going to stop.”

The NYSE-listed firm is the world's largest Ethereum treasury company, holding 6,016,414 ETH, or about 4.9% of supply, as of its latest disclosure. Bitmine added roughly $41 million in ETH just last week as it closed in on the goal it brands the "Alchemy of 5%." (Disclosure: Tom Lee is one of several investors in Dastan, Decrypt’s parent company.)

🚨BREAKING: Tom Lee says BitMine will "STOP" buying ETH at 5% "hard cap."

"We only need to get another 100,000 ETH to get to 5%," Lee said on stage at Token2049.

Lee called 5% BitMine’s “hard cap,” saying it optimizes shareholder value. pic.twitter.com/mm0WYnv4Z0

— Coin Bureau (@coinbureau) October 7, 2026

The company has bought Ethereum every week since launching its treasury strategy in June 2025, providing a reliable bid that helped underpin the token through a choppy stretch.

That makes the coming stop notable for the broader market. Bitmine's weekly purchases have been a persistent source of demand, and their end removes a buyer that has absorbed a steady stream of ETH for more than a year.

Lee has previously signaled the company could even sell Ethereum earned through staking to keep its share of supply from drifting above the 5% cap.

The milestone arrives with Bitmine deep underwater on paper. Because much of its accumulation happened last year at higher prices during the bull market, the firm's ETH holdings carry roughly $4.5 billion in unrealized losses, according to tracking data, with Ethereum trading near $2,570 on Wednesday.

Ethereum is down 5.5% today, outpacing losses across most major crypto assets, dropping sharply during Asia trading hours, coinciding with Lee’s remarks.

Still, Lee framed the achievement as a point of pride, having compressed a five-year plan into just over a year. Once the 5% ceiling is reached, Bitmine's defining buying spree, and the market demand it generated, will come to a close.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

TLDR Real Vision’s Raoul Pal observes liquidity beginning to flow from AI equities into cryptocurrency markets A declining US dollar could provide the catalyst for an extended crypto market rally, according to Pal Ethereum and Solana may see increased network activity from AI agent transactions Bitcoin likely won’t capture significant AI-driven blockchain activity, Pal suggests Pal expresses skepticism about predictions that Solana will surpass Ethereum’s market capitalization this cycle Raoul Pal, the founder of Real Vision, believes liquidity is beginning to rotate out of artificial intelligence stocks and back into cryptocurrency markets. He shared these observations during an appearance on Trade Secrets with Cointelegraph.

ROTATION: Raoul Pal says capital is starting to rotate back into crypto from AI. 👀

His tell: when $BTC ran ~25% to $80K in late August, Nvidia had 7 straight red days.

AI cools off, crypto heats up. The money's moving. pic.twitter.com/xlahu0jz8Z

— CryptosRus (@CryptosR_Us) October 7, 2026

According to Pal, elevated bond yields combined with a robust US dollar have constrained liquidity flows across financial markets. He suggested that dollar weakness could serve as a catalyst for continued upward momentum in digital assets.

“If they can engineer the dollar lower, then we get a green light for further movement in crypto,” Pal explained. He clarified that he hasn’t yet observed a comprehensive green light signal across all asset classes.

The US Dollar Index has been hovering near its 2025 peaks. Meanwhile, the US 10-year Treasury yield reached 5.29% in September, while the Federal Reserve implemented a 25 basis point rate increase.

Cryptocurrency Gains Have Coincided With AI Stock Corrections Bitcoin’s current cycle recovery primarily occurred between August 19 and August 25, during which the flagship cryptocurrency surged approximately 25% to reach $80,000. Throughout that identical period, artificial intelligence chip manufacturer Nvidia experienced seven consecutive days of declining share prices.

Pal noted that whenever the AI trade experiences temporary slowdowns, capital tends to flow toward cryptocurrencies. This pattern demonstrates that liquidity remains constrained rather than freely available throughout financial markets, he argued.

However, Pal emphasized that a severe crash in AI stocks wouldn’t benefit crypto markets. Such a scenario would indicate liquidity draining from the entire financial system, which would create headwinds for digital assets as well.

Pal outlined his ideal scenario: a weakening dollar, a steepening yield curve, and expanded bank lending activity. Failing that, his secondary preference would be for AI stocks to consolidate sideways while investment capital migrates into cryptocurrency markets.

AI Agents Could Drive Transaction Volume on Ethereum And Solana In June, Amazon Web Services unveiled functionality enabling AI agents to purchase web content using stablecoins. Coinbase facilitates payment verification through its x402 protocol, with USDC on the Base network included among the supported payment options.

Pal suggested that AI agents might eventually launch fundraising initiatives by creating tokens for projects spanning timeframes from one week to twelve months. He believes Ethereum and Solana could experience heightened adoption as software applications leverage their smart contract infrastructure for transactions.

Bitcoin is unlikely to capture a substantial portion of this emerging activity, he said.

Regarding predictions that Solana will eclipse Ethereum in market capitalization, Pal expressed caution. Multicoin Capital co-founder Kyle Samani stated last month that Solana would exceed Ethereum’s market cap during this market cycle.

Pal responded that Samani “needs to hold his horses a little bit,” while acknowledging the possibility exists.

On Monday, Solana recorded approximately 3.2 million active addresses within a 24-hour window, whereas Ethereum registered 387,000, based on DefiLlama data. Ethereum currently secures roughly $54.4 billion in decentralized finance protocols, compared to Solana’s $6.7 billion.

Pal explained that he evaluates the two networks using a metric he terms “economic density,” calculated as total value locked divided by active users. According to this framework, Solana’s activity predominantly consists of speculative trading involving smaller capital amounts per participant.

Pal disclosed that he no longer provides public price predictions because his forecasts frequently circulate without proper context on social media. He characterized the million-dollar Bitcoin by 2030 projection as a “meme,” though he wouldn’t entirely dismiss it happening by 2032.

US spot Ethereum (ETH) exchange-traded funds (ETFs) saw $201.9 million in outflows on October 6, the largest daily outflow since mid-September. 

It marked their sixth straight day of withdrawals, while Bitcoin (BTC) funds took in $118.9 million. ETH’s price held steady for most of that streak. However, as demand weakens, how long can the altcoin stay resilient?

How Deep Does the Ethereum ETF Bleed Run?SoSoValue data shows the streak began on September 29 and has pulled $407.8 million from the funds. It is the longest outflow run since a 9-day stretch from June 17 to 30.

Just before the outflows began, ETH ETFs drew $850.8 million over 7 straight sessions. The latest withdrawals have since wiped out nearly half of that.

Ethereum ETF flows. Source: SoSoValueThe weakness has not been limited to Ethereum. Zcash (ZEC) and Solana (SOL) funds saw withdrawals of $89 million and $23.2 million, respectively. Bitcoin ETFs, by contrast, recorded net inflows of $239 million over the same 6 sessions.

Follow us on X to get the latest news as it happens

Ethereum Price Held Up as Demand Quietly SoftenedDespite the ETF outflows, ETH remained relatively resilient at first. The token gained 0.33% between September 29 and October 6 on Binance. But the price came under pressure on Wednesday. 

ETH dropped to an intraday low at $2,591.71 on Binance. At press time, the altcoin traded at $2,617.76, down 2.90% over 24 hours.

Ethereum (ETH) Price Performance. Source: BeInCrypto MarketsThe decline also triggered a wave of leveraged liquidations. CoinGlass data showed $164.88 million in ETH long positions liquidated over 24 hours, compared with $10.22 million in short positions.

Signals beyond the ETFs show little sign of a demand rebound. CryptoQuant’s Coinbase Premium Index has stayed below zero since early September. It now reads -0.007.

Stakers are heading for the exit too. The validator exit queue held zero ETH in mid-September but now stands at 837,187 ETH.

That ETH could return to the market once unstaked. The entry queue remains larger at 1.41 million ETH, but it has been shrinking.

Market sentiment has weakened alongside these demand indicators. Bearish social media posts about ETH outnumbered bullish ones as October began, marking the weakest ETH sentiment since June 7.

Where Could the Ethereum Price Find a Floor?The deteriorating demand picture could put greater focus on ETH’s key technical levels. Analyst Ted Pillows warned of a potential pullback before the latest decline.

His chart marks first support between $2,547 and $2,565. Losing it would open a path toward roughly $2,190. On the upside, ETH would first need to reclaim resistance near $2,760 to $2,800.

Supply data looks less bearish than the demand picture. CryptoQuant shows 14.7 million ETH on exchanges, down from roughly 21 million in mid-2025. Fewer coins on exchanges leave less ETH available to sell.

For now, however, the demand picture remains the bigger concern. October 7 ETF data will reveal whether Ethereum’s outflow streak extends to a seventh consecutive session.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

Onyx Treasury Transfers 620 Million XCN Amid Blockaid Exploit Alert

5 hours ago

Founders Fund, backed by billionaire Peter Thiel, led a $5 million investment to acquire ANVL, the governance token of DeFi collateral protocol Anvil, with participation from Pantera Capital, Theta Blockchain Ventures, Bullish, and Protoscale Capital. Specific terms and valuation of the deal have not been disclosed. Anvil stated that the acquired tokens came from the project’s existing treasury, not a new issuance. Built on Ethereum, Anvil aims to use digital assets as collateral for financial commitments such as payments and credit. Its developer, Anvil Research Labs, also launched an SDK to help enterprises and financial institutions integrate the protocol without writing blockchain code. Consensus, Bitcoin.com, and payment firm Flexa are among its listed partners. Currently, ANVL has a total supply of 100 billion tokens, with a circulating supply of approximately 80 billion. The Anvil network’s total value locked (TVL) stands at around $14 million. Unlike traditional DeFi lending protocols, Anvil primarily secures financial commitments via on-chain collateralized assets, rather than allowing users to borrow funds and pay interest.

Scan the QR code

Download APP

5 hours ago

Altius Labs Co-Founder and CEO Annabelle Huang stated that the crypto industry’s development focus is gradually shifting from creating new assets like Bitcoin, Ethereum, NFTs, and meme coins in its early days to building new markets around existing entities. Prediction markets, perpetual contracts for crude oil and gold on Hyperliquid, and pre-IPO perpetual contracts are establishing 24/7 trading markets for previously real-time pricing-deficient assets such as news events, commodities, and private companies. Blockchain is thus not only creating assets but also expanding the boundaries of "what can be priced." Traditional financial price discovery is often constrained by trading hours, access barriers, and valuation cycles, while on-chain markets operate continuously, absorb new information quickly, and lower participation thresholds. Going forward, market participants may prioritize gaining exposure to asset prices rather than holding the actual assets. Huang noted that if the crypto industry aims to become a critical global price discovery infrastructure, it needs to prioritize improving throughput, latency, liquidity depth, and reliability to support high-frequency trading, risk management, and large-scale capital participation. Therefore, the next phase of the crypto industry may not lie in creating the next new asset, but in building pricing infrastructure for an increasing number of existing assets and events.

Scan the QR code

Download APP

Ethereum spent October 7 doing something rare for a crypto asset: almost nothing. ETH traded at $2,699.33, down 0.1% on the day.

The quiet price action hides a more crowded picture in derivatives. About $414.1 million in ETH long positions sit in potential liquidation zones, alongside $640.6 million in shorts.

The liquidation numbers, by the tracker Across the broader crypto market, about $148.3 million in leveraged positions were forcibly closed over 24 hours. Depending on the data provider, the figure ranged from $148 million to $154 million.

The split between bulls and bears was nearly even. Longs accounted for $76.1 million of the total, and shorts made up $72.2 million.

Ethereum’s share of the damage was modest. ETH liquidations came in between $15.7 million and $18.4 million, depending on the source. Gate reported $5.5 million in ETH longs liquidated on its platform alone.

For context, ETH has been trading in a narrow band of roughly $2,700 to $2,715. Wiping out $15.7 million to $18.4 million inside a range that tight shows how thin the margin for error gets once leverage enters the picture.

What a liquidation actually is Think of leveraged trading like buying a house with a tiny down payment. If prices fall far enough, the lender stops waiting for you to recover. It sells the house to protect itself.

Crypto exchanges work the same way, just faster and with less paperwork. A trader posts collateral, borrows to enlarge the bet, and agrees to a price that triggers automatic closure. When the market hits that price, the exchange closes the position. The trader’s collateral is gone.

A long liquidation hits someone betting the price would rise. A short liquidation hits someone betting it would fall. Both showed up in roughly equal measure this time.

Forced selling can also feed on itself. When longs get liquidated, exchanges sell the underlying asset. That selling can push prices lower and trigger the next batch of liquidations. Shorts face the reverse, with forced buying pushing prices higher.

Open interest says traders are still leaning in ETH futures open interest stood at about $33.9 billion, measuring the total value of derivatives contracts still open.

That optimism stands in contrast to spot ETF flows. US spot Ethereum exchange-traded funds have seen significant outflows recently. ETF investors, who tend to be more traditional and less leveraged, have been pulling money out.

Why the liquidation zones matter more than the day’s damage Right now, $414.1 million in ETH longs sit in those zones. If the price drops into that territory, those positions could be closed automatically, adding sell pressure as they unwind.

On the other side, $640.6 million in shorts are stacked up. If ETH rallies into those levels, short sellers could be forced to buy back, potentially fueling a sharper move higher.

What to watch from here The larger short pool is worth noting. With $640.6 million in shorts versus $414.1 million in longs in the potential liquidation zones, the forced-buying fuel above the price is bigger than the forced-selling fuel below it.

The $33.9 billion in open interest is the other number to monitor. If it keeps climbing while price stays flat, leverage is building without a release valve. If it drops sharply, that usually means positions are being closed, voluntarily or otherwise.

Spot ETF flows remain the wild card. Continued outflows from US spot ETH ETFs would suggest the more conservative end of the market still does not share the futures crowd’s enthusiasm.

A 0.1% daily move still produced millions in liquidations across a tight range. The market does not need a crash to clear out overextended positions. A few bad hours will do.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Table of contents

Founders Fund has led a $5 million purchase of governance tokens in Anvil, an Ethereum-based decentralized finance protocol that lets digital assets secure financial commitments, as the project rolls out tools aimed at businesses and financial institutions, according to a CoinDesk report on the announcement. Pantera Capital, Theta Blockchain Ventures, Bullish and Protoscale Capital also joined the ANVL token purchase, alongside individual investors Robert Leshner of Superstate, Rene Reinsberg of Celo and Mike Cahill of Douro Labs.

Alongside the sale, Anvil Research Labs, the development company building enterprise tools for the protocol, launched a software development kit that lets companies integrate Anvil without writing blockchain code. The announcement did not disclose the valuation or terms of the purchase, and Anvil told CoinDesk the tokens came from its existing treasury rather than being newly issued.

How Anvil Uses Collateral Differently Anvil, developed by the Acronym Foundation and built on Ethereum, describes itself as a universal collateral layer. Rather than matching the borrowing model used by lenders such as Aave and Morpho, where users pay interest on loans against deposited collateral, Anvil is designed to guarantee a commitment without necessarily creating a loan, in effect an onchain letter of credit. The open-source protocol currently holds about $14 million in total value locked.

“Businesses need to know the commitments behind payments and credit will be honored,” Joey Krug, a partner at Founders Fund, said in the announcement. “Anvil lets them secure those commitments with verifiable digital asset collateral, and the new SDK makes it easier to integrate into their products.”

Enterprise Partners and Governance Anvil Research Labs named Consensus, Bitcoin.com, payments company Flexa, EukaPay, Helva Finance, Yabe Market, Digital Spenders Club and Emerald, the company acquired by Apollo, among partners already using or integrating its tooling. The rollout builds on Anvil’s earlier work demonstrating secured buy-now-pay-later financing at the Blockchain Futurist Conference. Bullish, the parent company of CoinDesk, is also working with Anvil to explore how the protocol could support its operations, a plan Bullish CEO Tom Farley discussed alongside Acronym Foundation president Tyler Spalding at Consensus 2026.

The ANVL tokens bought by Founders Fund and the other investors carry governance rights, letting holders vote on the protocol’s development. The token has a circulating supply of 80 billion out of a total supply of 100 billion.

What the Funding Signals The investment points to growing institutional interest in collateral-based DeFi infrastructure beyond simple lending markets, a theme also visible in proposals for custodied collateral lending for institutions. Anvil’s backers are betting that verifiable collateral for payments and credit can pull traditional businesses onchain, but the protocol remains small relative to established DeFi lenders, and its named integrations have yet to translate into a significant share of DeFi activity.

AUTHOR

A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities

Coinbase has announced the acquisition of Deribit, a prominent crypto-derivatives platform, and integrated its products into the Coinbase ecosystem. This move is part of Coinbase’s strategy to enhance its derivatives offerings, making them available to U.S. institutional clients through Coinbase Prime. As part of the integration, Coinbase has launched new derivatives products and tools, including USDC-settled contracts and a new matching engine. This development marks a significant consolidation of Coinbase’s spot, futures, perpetuals, and options into a unified platform, potentially bolstering market activity and interest in the Ethereum ecosystem.

Key Takeaways Coinbase’s acquisition of Deribit and integration of its products appears to strengthen its derivatives platform. The development suggests a potential boost to Ethereum-related market activity, consistent with increased interest in Ethereum reaching $10,000. Market pricing implies a moderate increase in the probability of Ethereum reaching higher price thresholds by the end of 2026. What to Watch Watch for further announcements from Coinbase regarding new derivatives products or tools, as these could impact market perceptions. Key indicators to monitor include any changes in derivatives volumes on the Coinbase platform and reactions from major financial institutions like BlackRock and Fidelity. Developments in regulatory environments for crypto derivatives in the U.S. could also influence market dynamics, potentially affecting Ethereum price predictions.

Term Structure

Contract Odds Δ since publish Volume 24h December 31, 2026 0.9% — — View market → December 31, 2026 1.2% — — View market → December 31, 2026 1.7% — — View market → December 31, 2026 2.9% — — View market → December 31, 2026 5.5% — — View market → January 1 2027 25.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.2% — — View market → January 1 2027 1.1% — — View market → January 1 2027 1.7% — — View market → January 1 2027 4.5% — — View market → January 1 2027 11.5% — — View market → January 1 2027 7.1% — — View market → January 1 2027 2.8% — — View market → January 1 2027 1% — — View market → January 1 2027 4.5% — — View market → January 1 2027 56.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 14.5% — — View market → January 1 2027 30.5% — — View market →

Claude private chat triggers manual review; Florida woman arrested for writing shooting threat.

Beating AI News Flash: A Florida woman in the U.S. was flagged by Anthropic’s safety systems for writing a shooting threat in a private Claude chat. The conversation was sent for human review, and the moderation team turned the content over to police. The woman has been arrested and is facing felony charges. Local police said she later explained she used the AI as a "diary". The arrest report notes she first wrote about attacking the Lee County Sheriff’s Office, then the next day claimed she had just obtained a new gun. This was not a decision made by Claude itself. The system first identifies potential threats, then forwards serious content to Anthropic’s human team, which decides whether to contact law enforcement. Anthropic’s consumer terms of service already state the company may at its sole discretion report user inputs, outputs or actions to law enforcement. Its official privacy policy also allows sharing personal data with police when necessary to prevent serious harm to people or property. Even if a user opts out of model training, conversations flagged for safety issues may still undergo security review. The case has legal disputes. Florida law requires that written or electronic threats must be sent or transmitted in a way "viewable by others". Local lawyers argue applying this statute to a private AI chat is not straightforward. The woman has only been charged and not yet convicted. This is not an isolated case. Tom’s Hardware reports that since August, at least three instances of Anthropic chat content have come to police attention. Earlier, a Claude user threatened Anthropic CEO Dario Amodei in a conversation, leading Anthropic to contact San Francisco police on its own initiative.

4 minutes ago

WLFI Founder Plans to Integrate Payment Technology with a Certain Web2 Company Boasting Billions of Users

WLFI founder Zak Folkman stated at Token2049 that WLFI plans to integrate payment technology into unnamed Web2 companies boasting billions of users, to pay drivers, contractors and creators.

4 minutes ago

Single-stock leveraged ETFs have become a major loss-making machine for retail investors, with South Korean retail investors suffering massive losses of 2.3 trillion won, equivalent to approximately $1.7 billion, over just two months.

According to data compiled by South Korea’s financial regulators, since the launch of single-stock leveraged exchange-traded products (ETPs) in May this year, investors have lost an estimated 2.3 trillion won (approximately $1.7 billion) between May 27 and August 14. This marks the first time regulators have disclosed the overall loss incurred by South Korean investors in such highly leveraged single-stock products. It should be noted that the data only covers 10 leading South Korean securities firms, so it does not represent total losses for all South Korean investors in leveraged products. Since July, regulators have rolled out a series of measures to restrict trading in single-stock leveraged products, including temporarily banning the listing of new related products, raising investors’ minimum cash margin requirements, and mandating specialized training for investors before they trade. This signals a sharp shift in South Korea’s regulatory policy in less than two months: from encouraging the launch of such products in the domestic market in May to curbing their expansion starting in July.

4 minutes ago

Solana-based tokenized silver project Dominion has announced its shutdown, with liquidity collapsing after a September attack.

Solana-based tokenized silver project Dominion has announced its shutdown. The project team stated that a September security incident led to a large-scale breach and sell-off of SILV, triggering a liquidity collapse, operating capital losses, and damage to market structure, with the capital required for reconstruction exceeding the project’s remaining resources. Dominion has allocated most of its remaining liquid funds to a refund program, allowing eligible SILV holders who held tokens before the attack to exit at a rate of $63 per token. SILV was originally designed as a Solana token backed 1:1 by physical silver, with each token corresponding to one troy ounce of silver. On September 11, attackers compromised 3 of the project’s 5 multi-signature keys and dumped approximately 46,909 SILV tokens on a low-liquidity decentralized exchange (DEX). The pre-attack nominal value of these tokens was around $3 million, and the attackers ultimately cashed out roughly $238,000.

4 minutes ago

OKX Star: The finance sector will undergo two fundamental transformations over the next 5 to 10 years.

OKX founder Star Xu stated at Token2049 that the financial sector will undergo two fundamental transformations over the next five to ten years, with the first being an improvement in user experience.

4 minutes ago

AltcoinsBitcoin

7 October 2026 | 08:36 Bitcoin fell toward $84,000 as major cryptocurrencies gave back recent gains. The sell-off reached across the market, while Bitcoin and Ethereum ETF flows moved in opposite directions.

Key Takeaways Bitcoin fell 1.83% in 24 hours, while Ethereum dropped 3.42%. Bitcoin ETFs added $118.86 million on October 6; Ethereum ETFs lost $201.89 million. Longs made up almost 88% of liquidations when CoinGlass data was checked. Fear & Greed remained at 63, keeping sentiment in the greed range. Crypto losses reached beyond Bitcoin At roughly 05:20 UTC on October 7, CoinMarketCap showed Bitcoin near $84,130, down 1.8% over 24 hours. Ethereum traded around $2,6120after falling 3.4%, while several large altcoins gave up a larger share of their value.

Asset Price 24-hour change at the time of writing Bitcoin $84,130 -1.8% Ethereum $2,610 -3.4% BNB $767 -1.8% XRP $1.46 -2.4% Solana $118 -1.5% Dogecoin $0.089 -5.2% Cardano $0.255 -5.47% The losses extended beyond Bitcoin. Ethereum, Dogecoin and Cardano fell more sharply, showing that selling reached across large-cap crypto assets.

Bitcoin and Ethereum lost ground below recent highs Bitcoin briefly traded above $87,300, but buyers did not keep it above $87,000. Its return toward $84,000 leaves that earlier rise as an unsuccessful attempt to establish a higher trading range.

Ethereum has faced a separate hurdle at $2,800. ETH reached that level recently, then pulled back, and later attempts to return there have also failed to hold. Both assets met selling pressure at higher prices before the wider market moved lower.

ETF flows split Bitcoin and Ethereum demand SoSoValue recorded $118.86 million in net inflows for U.S. spot Bitcoin ETFs on October 6. U.S. spot Ethereum ETFs, by comparison, recorded $201.89 million in net outflows during the same session.

The figures cover the previous U.S. trading day. They cannot identify why prices fell during the latest 24 hours, but they show that fund investors were treating Bitcoin and Ethereum differently.

October 6 U.S. ETF session

Bitcoin spot ETFs
$118.86M net inflow

Ethereum spot ETFs
$201.89M net outflow

The ETF data complicates the idea of a broad institutional exit. Bitcoin funds still drew fresh money, while Ethereum funds recorded withdrawals.

Leverage accelerated the retreat CoinGlass data showed $552.81 million in crypto liquidations over the previous 24 hours. Long positions accounted for $485.26 million, or almost 88% of the total.

Liquidations show what happened after prices already started falling. Exchanges close leveraged long positions when margin runs short, and those forced exits can add further selling.

The four-hour period before the snapshot accounted for $414.75 million in liquidated longs, showing how quickly the move gathered pace. CoinGlass charts show that Bitcoin and Ethereum open interest remains well above its June and July ranges, even after easing from late-September highs. The figures show that the decline hit a market crowded with leveraged longs. They do not show whether spot holders were also taking profits.

§

Greed has cooled without turning into fear CoinMarketCap’s Crypto Fear & Greed Index stood at 63, keeping the market in the greed range. The drop hurt leveraged traders, yet it has not produced the broad fear that often appears during a deeper washout.

With the index still in the greed range after the drop, some of the selling may also reflect traders taking profits after the recent advance rather than a wholesale exit from crypto. Neither the sentiment reading nor liquidation data can measure that directly, so profit-taking remains a possible explanation rather than a confirmed one.

Stocks reached records, but crypto had its own demand test The gap between stocks and crypto adds another layer to the pullback. U.S. equities recently reached fresh highs, but crypto buyers did not hold their own higher levels. Our look at what history says about Bitcoin after S&P 500 records explains why equity gains alone have rarely been enough to sustain a crypto move.

Bitcoin ETF inflows remained positive, while Ethereum funds saw withdrawals and long liquidations accelerated the sell-off. The next test is straightforward: Bitcoin needs to recover $87,000, while Ethereum needs to return to $2,800 and hold there.

This article is for informational purposes only and does not constitute investment or trading advice. Cryptocurrency prices, ETF flows and derivatives data can change quickly.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Bitget CEO Talks About the $387 Million Hack. Is the Exchange Safe? 

Ethereum is holding near $2.7K after a strong recovery from the summer lows, but the latest price action suggests that momentum has cooled. ETH is now compressed inside a narrowing structure at the 2.7K-2.8K resistance area, while the taker buy/sell ratio has weakened, pointing to more cautious short-term positioning.

Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH remains in a constructive broader structure. The recovery from the June low around $1.5K established a series of higher lows, followed by a decisive move above the $2.4K area in late August. Since then, price has been consolidating rather than giving back the breakout.

The most important near-term resistance is the 2.7K-2.8K zone. ETH has repeatedly struggled to establish a sustained move above this region, with the latest candles continuing to trade around $2.7K. A daily breakout above $2.8K would likely strengthen the bullish structure and expose the next major resistance zone around 3.0K.

The broader trend remains supported by the major moving averages. The 100-day moving average is around $2.2K, while the 200-day MA is near $2.1K, with both positioned well below the current price and sloping upward. These averages have also printed a bullish crossover, which keeps the medium-term structure bullish despite the ongoing consolidation.

The chart also shows an ascending trendline connecting the summer low and subsequent higher lows. As long as this trendline and the $2.4K support area remain intact, the broader recovery structure appears healthy.

ETH/USDT 4-Hour Chart The shorter-term chart shows ETH trapped inside a tightening structure between roughly $2.6K and $2.8K. The descending upper trendline and rising lower trendline are converging, creating a compression pattern that should eventually produce a directional breakout.

ETH is currently trading around $2.7K, close to the lower half of this range but still above the ascending support line. The immediate bullish trigger is therefore a clean move through the $2.8K area. Such a breakout would confirm that buyers have absorbed the supply that has repeatedly appeared near the recent highs.

On the downside, the rising trendline currently provides short-term support around the $2.7K mark. A break below it would increase the probability of a move back toward the $2.4K demand zone, which is the more significant structural support visible on the chart.

The 4-hour RSI is around 46.8, reflecting neutral-to-soft momentum. It is neither oversold nor showing a strong bullish impulse, which fits the current consolidation. In other words, the market is waiting for a catalyst rather than displaying a clear directional advantage.

On-Chain Analysis The Ethereum taker buy/sell ratio provides a more cautious signal. The metric has fallen considerably from the elevated readings seen during the July-August advance, and the latest reading is below the 1.0 level, indicating that aggressive selling pressure is currently outweighing aggressive buying pressure across exchanges.

This suggests that the recent ETH consolidation is not being accompanied by a strong increase in futures market taker demand. The decline in the ratio is particularly notable because ETH is still holding around $2.7K rather than breaking down sharply.

That divergence could mean that spot and derivatives participants are becoming more cautious while passive demand continues to support price. For the bullish scenario to strengthen, a recovery in the taker buy/sell ratio back toward and above 1.0 would provide confirmation that aggressive buyers are returning.

For now, the futures market signal argues for caution rather than an outright bearish reversal. ETH remains technically above its major daily moving averages and structural supports, but the lack of strong taker buying leaves the potential $2.8K breakout as an important confirmation.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Tags:

19h41 ▪ 8 min read ▪ by Evans S.

Summarize this article with:

Ethereum has just activated Glamsterdam on the Sepolia testnet. The crypto upgrade was launched on October 6 at 13:53 UTC, at epoch 353,024. Several important changes are now being tested on a public network: new organization of block construction, preparation for parallel processing, and revision of certain gas costs. The mainnet will still have to wait.

In brief Glamsterdam is now active on the Sepolia testnet. The upgrade notably tests ePBS and Block-Level Access Lists. Hoodi then the mainnet are the next deployment steps. Glamsterdam finally passes on Sepolia Ethereum had set October 6 as the date for the public test of Glamsterdam. The activation took place at slot 11,296,768, i.e., at 13:53:36 UTC. Sepolia represents a very different step from the private networks used during development.

The testnet gathers more operators, software, and different configurations. Teams can thus verify that execution and consensus clients all correctly apply the new rules.

Node operators had to install compatible versions before the fork. This notably concerns software like Geth, Besu, and Reth for execution, as well as Prysm, Teku, or Lodestar for consensus.

ETH holders have nothing to do. Sepolia ethers are only test tokens and Glamsterdam is not yet active on the Ethereum mainnet.

Nevertheless, the move to Sepolia was not guaranteed a few weeks earlier.

The devnets had encountered several finality issues and a bug related to the new gas pricing. Ethereum still had to fix several problems before exposing Glamsterdam to a public network. This phase is now behind it. The work now changes terrain.

ePBS modifies Ethereum block construction Glamsterdam contains a particularly important modification: ePBS, for enshrined proposer-builder separation. Ethereum already uses a separation between the validator who proposes a block and the specialized actors who build its content.

The builders notably seek to organize transactions efficiently before proposing their blocks to the validators. Part of this architecture currently depends on software and infrastructures located outside the protocol itself.

EIP-7732 aims to integrate this organization directly into Ethereum’s rules. The builder prepares the block. The proposer publishes the corresponding commitment. The protocol then organizes the content revelation, its validation, and the payment.

The change may seem very technical, but it directly affects how Ethereum produces its blocks. One of the objectives is to give validators more time to verify execution. With heavier blocks, every millisecond available becomes more important.

ePBS must also reduce Ethereum’s dependence on certain external infrastructures currently used to coordinate builders and validators.

Block construction thus becomes more native to the network. This project is especially important in Ethereum’s crypto strategy: the protocol wants to significantly increase its capacity without asking validators to simply process more data in the same amount of time. Glamsterdam therefore begins by reorganizing the mechanics before increasing the load.

Block-Level Access Lists prepare parallel processing Another major novelty concerns the Block-Level Access Lists, or BAL. When an Ethereum block contains many transactions, these interact with different accounts, smart contracts, and storage locations.

Currently, clients have to discover some of these accesses during execution. EIP-7928 adds a list indicating the state elements used by a block and certain modifications made to them.

This information opens the door to more parallel work. If two operations do not use the same data, clients can prepare or process part of their execution simultaneously rather than always waiting for each previous operation to complete.

Ethereum does not instantly become a fully parallel blockchain.

BAL mainly provide one of the building blocks needed to move in this direction. They can also facilitate disk data reads and certain calculations performed post-execution. The aim is directly related to the time needed to process a block.

The more Ethereum wants to accept transactions, the more this issue becomes important. Simply increasing block sizes without speeding up their processing could make nodes more expensive to operate and complicate validation.

This is where Glamsterdam joins the broader network goal. Developers now consider that a capacity of 200 million gas after Glamsterdam becomes technically feasible. Ethereum currently runs around 60 million. The scale change would be substantial.

The gas cost also needs to evolve More capacity creates another problem: not all Ethereum operations cost the same to the network. A transaction might require computation for a few moments without leaving much data behind. Another might create new information that nodes will need to keep permanently.

However, historical gas pricing does not always perfectly reflect this difference. Glamsterdam must correct part of this imbalance. EIP-8037 notably introduces a more precise way to measure the cost associated with new state creation.

The goal is to prevent throughput increase from blowing up the size of data each node must store. EIP-8038 also revises the cost of several state access operations. As a result, some operations might cost more gas after the upgrade.

This is intentional. Ethereum does not only seek to reduce fees per transaction. It mainly wants each operation to pay a cost closer to the resources it actually consumes. Some applications will have to check their code. Tools that use hardcoded gas limits may encounter problems. Fee estimators, wallets, and development infrastructures have also been invited to test the new rules before mainnet rollout.

A simple transfer to an existing account will not necessarily be affected the same way as an operation creating new permanent data. Scaling thus also involves pricing. More space, but not free for all operations.

Hoodi must now open the path to the mainnet Sepolia is not the final destination. Ethereum still has to deploy Glamsterdam on Hoodi, its other major test environment notably used by validators and staking infrastructures.

No definitive date has been announced yet. The mainnet doesn’t have one either. Developers want to first observe how Sepolia reacts to the new rules: finality, client compatibility, ePBS behavior, block creation, BAL functioning, and new gas rules.

A major problem could still delay the schedule. The stakes are high. Ethereum secures hundreds of billions of dollars in assets, stablecoins, DeFi protocols, and tokenized products. An unnoticed error on a test network could become much more costly if it happens on the mainnet.

Testing is precisely to avoid this. After Glamsterdam, Ethereum is already working on Hegotá, the next big upgrade planned for 2027. Several proposals are still under study, notably around privacy and censorship resistance.

But the immediate project remains Glamsterdam. Sepolia is now active. Hoodi must follow. Only then will the main network come. If everything works correctly, Ethereum will have a much stronger technical base to push its Layer 1 beyond current limits.

The 200 million gas will not be activated automatically with Glamsterdam. Validators will have to gradually raise their parameters and the network will have to demonstrate it can absorb the load. This is exactly what the next tests are meant to measure. Glamsterdam does not yet accelerate Ethereum for all its users. But the first major public test of this new architecture is now underway.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

Join the program

A

A

Lien copié

Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

Ethereum has fewer validators than it did at the start of the year. It also has a lot more ETH staked.

As of October 6, 2026, active validators on the network sit somewhere between approximately 863,459 and 868,000. Total staked ETH, meanwhile, has climbed to approximately 43.7 million. Fewer seats at the table, but the table is holding more money than ever.

The explanation isn’t an exodus. It’s housekeeping, made possible by the Pectra upgrade that lets operators merge validator balances without pulling their ETH out of the protocol.

The numbers behind the shrink The validator count fell by about 4.9% over the past month, a drop of roughly 44,500.

Zoom out to January and the decline looks bigger. The network started 2026 with nearly 975,000 active validators.

Staked ETH began the year at roughly 36.3 million and has since grown to approximately 43.7 million. That works out to over 7 million ETH added to staking during 2026. The staked total now represents around 35.8% of Ethereum’s entire supply.

Advertisement

Why Pectra changed the math The Pectra upgrade went live on May 7, 2025. Its most consequential change for stakers came through EIP-7251.

Before that proposal, every validator was capped at an effective balance of 32 ETH. If you wanted to stake 320 ETH, you needed ten separate validators, each with its own keys and its own attestation duties.

EIP-7251 raised that ceiling to 2,048 ETH per validator. A single validator can now do the work that used to require dozens.

Larger effective balances allow consensus-layer rewards to auto-compound, rather than sitting idle above the old 32 ETH cap.

The kicker is that consolidation doesn’t require withdrawing. Operators can combine balances while their ETH stays staked, which is why the validator count can fall while the staked total rises.

Lido is doing the heavy lifting The largest staking provider on Ethereum is behind much of this trend. Lido is in the process of merging over 265,000 individual validators into approximately 4,000 larger ones.

If the project runs to completion, the overall validator population could contract by about one-third.

Queues on both ends Consolidation isn’t the only thing happening. Ethereum’s exit queue has risen to unprecedented levels, reaching hundreds of thousands of ETH. At the same time, entry waits are significant. New stakers are lining up to get in even as others line up to leave.

What this means for ETH holders and the network For investors, the clearest signal is the staked ETH figure. More than 7 million ETH entering staking this year points to sustained demand for locking up tokens in exchange for protocol rewards.

It’s worth separating optics from substance here. Fewer validator entries doesn’t automatically mean fewer independent parties, since one operator was already controlling those 265,000 validators before the merge began.

What to watch next: whether Lido completes its merge, how quickly the exit queue drains, and whether staked ETH keeps climbing past its current share of roughly 35.8% of supply.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Sponsor fee waiver extended for an additional 12 months to provide zero-cost exposure and staking yield potential for U.S. investors

NEW YORK, October 6, 2026 – 21shares, one of the world’s largest issuers of cryptocurrency exchange traded funds (ETFs), today announced a 12-month extension of the sponsor fee waiver for the 21shares Ethereum Staking ETF (TETH).

Originally introduced alongside the integration of staking features in October 2025, the 100% sponsor fee waiver will now remain in effect for an additional year through October 8, 2027. 

Through staking, the Trust participates in Ethereum’s network validation process, enabling investors to benefit from the yield-generating potential of the protocol. The net staking reward (after the deduction of fees and expenses) for TETH, as of October 1, 2026 is 2.65%. 

“Extending our fee waiver for an additional 12 months underscores our commitment to providing investors with cost-efficient access to Ethereum,” said Duncan Moir, President and Chief Investment Officer at 21shares. “By combining a 100% fee waiver with the yield-generating power of network staking, we are continuing to pass the native benefits of blockchain technology directly back to our investors at zero cost.”

The fee waiver extension applies automatically to all current and prospective shareholders, with no action required from investors.

For more information on TETH, please visit https://www.21shares.com/en-us/products-us/teth.

About 21shares

21shares is one of the world’s leading cryptocurrency exchange traded product (ETP) providers and offers one of the largest suites of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto ETPs that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21shares delivers innovative, simple and cost-efficient investment solutions.

21shares is a subsidiary of FalconX, one of the world's largest digital asset prime brokers. 21shares maintains independent operations from FalconX while strategically leveraging the resources and reach of FalconX to accelerate its mission and unlock new growth. For more information, please visit www.21shares.com.

Media Contact
Audrey Belloff: [email protected]
Alethea Jadick: [email protected]

Important Information

The 21shares Ethereum Staking ETF (TETH) (referred to as the “Trust”) is not registered under the Investment Company Act of 1940 (the “40 Act”) and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. Investing involves significant risk, including possible loss of principal. An investment in the Trust is subject to a high degree of risk and heightened volatility and not suitable for all investors. The Trust is not suitable for an investor who cannot afford the loss of the entire investment. An investment in the Trust is not a direct investment in ETH.

Investing involves significant risk, including the possible loss of principal. There is no assurance that the Trust will generate a profit for investors.

Ethereum is a relatively new asset class, and the market for these assets is subject to rapid changes and uncertainty. Ethereum is largely unregulated and these investments may be more susceptible to fraud and manipulation than more regulated investments.

Must be preceded or accompanied by the prospectus for TETH (here).

The Trust participates in staking a portion of its holdings in order to generate additional rewards. Staking involves committing assets to support the operations of a blockchain and, in return, may provide rewards to the Trust. While staking can potentially enhance returns, it also introduces additional risks, including operational, technological, regulatory, and counterparty risks. Staking Ethereum introduces several risks, including the possibility of losing staked Ethereum through penalties, slashing, or inactivity leaks if validators behave poorly, go offline, or violate protocol rules. Staked Ethereum can also be locked for long and unpredictable periods due to activation and exit queues, creating liquidity constraints and making it harder to meet redemptions. Because staking depends heavily on third-party providers, operational failures, outages, cybersecurity breaches, or mismanagement by these providers could lead to lost assets or reduced rewards. Rewards themselves are uncertain and can fluctuate based on network conditions, validator performance, governance changes, commission rates, and downtime. Additionally, staking may create conflicts of interest if operators are incentivized to stake more Ethereum than is prudent, increasing liquidity risk.

Ethereum is subject to unique and substantial risks, including significant price volatility, lack of liquidity, and theft. The value of an investment in the Trust could decline significantly and without warning, including to zero. Ethereum is subject to rapid price swings, including as a result of actions and statements by influencers and the media, changes in supply and demand, and other factors. There is no assurance that Ethereum will maintain its value over the long-term.

Staking rewards earned by the Trust accrue to the Trust's assets and are reflected in NAV over time. The Trust will not distribute staking rewards directly to shareholders. Shareholders may nonetheless incur tax liability on staking income without receiving a corresponding distribution. The treatment of staking in a grantor trust for U.S. federal income tax purposes is still developing and may change. 

Failure by the Trust’s Custodians to exercise due care in the safekeeping of the Trust's underlying digital assets, as applicable, could result in a loss to the Trust. Shareholders cannot be assured that a Custodian will maintain adequate insurance with respect to the digital assets held by the Custodian on behalf of the Trust.

The Trust is not actively managed and will not take any actions to take advantage, or mitigate the impacts, of volatility in the price of its underlying digital assets, as applicable. An investment in the Trust is not a direct investment in Ethereum. Investors will also forgo certain rights conferred by owning these digital assets directly. Shares of a Trust are generally bought and sold at market price (not NAV) and are not individually redeemed from the Trust. Only Authorized Participants may trade directly with a Trust and only in large blocks of Shares called "creation units." Your brokerage commissions will reduce returns.

Shares in the Trust are not FDIC insured, may lose value, and have no bank guarantee.

The Marketing Agent for the Trust is Foreside Global Services, LLC. 21shares US LLC is the Sponsor to the Trust. 21shares is not affiliated with Foreside Global Services, LLC. FalconX is not affiliated with Foreside Global Services, LLC.

© 2026 21shares US LLC. No part of this material may be reproduced in any form, or referred to in any other publication, without written permission.

Source: 21Shares

SEC FILLINGS: 8-K - 21Shares Ethereum Staking ETF (0001992508) (Filer)

Abstract, the Ethereum layer-2 network built by Igloo Inc., will shut down on December 15, 2026.

Igloo is the company behind Pudgy Penguins. It spent roughly a year and a half trying to turn its NFT fame into a full blockchain business. That experiment is now ending.

The shutdown follows 18 months of financial losses that ran into the tens of millions of dollars. Users who still hold assets on the network have a deadline, and missing it could cost them access to their funds permanently.

What happened to Abstract The causes cited were stagnant growth inside a restricted DeFi ecosystem, low on-chain liquidity, and limited institutional adoption.

CEO Luca Netz indicated that there will be no Abstract token. That detail matters for anyone who had been using the network in hopes of a future airdrop, a common motivation for early users of new chains.

Advertisement

Netz framed the decision as a question of priorities. The company chose not to keep funding Abstract at the expense of its core Pudgy Penguins business.

For users, the practical instruction is simple. Bridge assets off Abstract through the designated migration hubs before December 15, or risk losing access to them for good.

The numbers behind the chain On paper, Abstract was not a ghost town. The network onboarded over 400,000 users after launching its mainnet in January 2025.

It also processed more than 300 million transactions across 144 applications.

Abstract leaned hard into consumer branding. It worked with major names including Disney and Red Bull Racing.

Igloo acquired the Frame development team in June 2024, then raised over $11 million in July 2024.

Compare that raise to the losses. Igloo brought in over $11 million and reportedly burned through tens of millions of dollars running the chain.

What this means for Pudgy Penguins, PENGU and layer-2s For Igloo, the shutdown is a consolidation move. Focus and resources will shift entirely to the Pudgy Penguins brand and its associated PENGU token.

For Abstract users, the stakes are immediate and practical. Anyone with tokens, NFTs or other assets on the chain should treat December 15 as a hard wall, not a soft suggestion.

Developers who built among the 144 applications on the network face their own decisions. They will need to migrate, rebuild elsewhere, or wind down their own projects alongside the chain.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

Binance, one of the world’s largest cryptocurrency exchanges, reported that its users increased their Bitcoin holdings in October, as shown in its most recent proof-of-reserves snapshot. Balances for Ethereum, USDT, and BNB, however, declined over the same period, indicating shifting trends in asset allocation among the exchange’s customers.

Bitcoin holdings rise amid broader market gainsAs of October 1, Binance users collectively held approximately 688,573 BTC, up by 6,217 BTC or 0.91% from the 682,356 BTC recorded on September 1. The snapshot reflects a noticeable increase in Bitcoin holdings during a period when Bitcoin’s price fluctuated around $85,000 to $87,000.

Binance Research reported that the total crypto market capitalization increased by 11% in September, reaching $2.99 trillion. Spot Bitcoin ETFs saw inflows totaling $3.49 billion during the same month, signaling increased investor demand for Bitcoin-related products.

While the data shows that Binance users opted to hold more Bitcoin on the platform, the proof-of-reserves snapshot does not provide information on the specific reasons for individual user behavior.

The increase in BTC holdings coincided with a rise in total crypto market capitalization and strong ETF inflows, suggesting a favorable environment for Bitcoin accumulation among Binance users.

Ethereum, USDT, and BNB balances declineWhile Bitcoin balances rose, user holdings of Ethereum fell during the same snapshot period. On October 1, Binance reported around 3.799 million ETH held by users, representing a decrease of 183,602 ETH or roughly 4.61% compared to September’s total of 3.983 million ETH. This decline is more pronounced in percentage terms than the increase in Bitcoin balances.

USDT balances fell by about 0.87%, reaching 32.03 billion tokens. User holdings of BNB declined 0.77%, dropping to approximately 43.04 million tokens as of October 1. Combined, these shifts suggest that changes in Binance user portfolios were asset-specific rather than part of a uniform movement across all major coins.

AssetSeptember 1 HoldingsOctober 1 HoldingsChangeChange (%)BTC682,356688,573+6,217+0.91%ETH3,983,0003,799,398-183,602-4.61%USDT32.31 billion32.03 billion-0.28 billion-0.87%BNB43.37 million43.04 million-0.33 million-0.77%These figures highlight the varied adjustments Binance users made across different cryptocurrencies during the latest reporting period.

USDT movements and proof-of-reserves process explainedUSDT functions as a key stablecoin in global crypto markets and is frequently used to provide trading liquidity across exchanges. The fall in Binance’s user USDT holdings, as indicated by the snapshot, may be due to withdrawals, conversions to other assets, or shifts in trading activity. However, the snapshot alone cannot clarify these motivations or signal broader capital movements in or out of crypto markets.

Binance’s proof-of-reserves mechanism enables users to confirm that their balances are included within reported liabilities, using a combination of Merkle Tree data structures and zk-SNARK cryptographic proofs.

Mini dictionary: zk-SNARK, which stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” is a cryptographic method that allows one party to prove to another that a statement is true, without revealing any specifics about the statement itself.

Binance asserts that its reserves back user assets on a 1:1 basis, with figures reflecting user balances at discrete monthly intervals rather than real-time holdings.

Focus on transparency as asset composition shiftsThe proof-of-reserves snapshots are crucial for maintaining user trust and transparency regarding the assets Binance holds on behalf of its customers. The latest data reveals a shift toward holding more Bitcoin, with declines in Ethereum, USDT, and BNB. This asset rotation highlights adjustments in user positioning as market conditions evolve.

Observers will look to future snapshots to determine whether the Bitcoin accumulation trend persists or if positions shift further. Regulatory attention to reserves and asset backing remains elevated, making these disclosures essential for sustaining confidence among crypto exchange users.

Which Crypto Has the Best Chart? Peter Brandt Compares XRP, Monero and Solana