NFT project StonkBrokers' floor price rises to 9.225 ETH, surging over 20% in 24 hours.
According to OpenSea market data, the floor price of NFT project StonkBrokers has climbed to 9.225 ETH, surging more than 20% in 24 hours, with cumulative trading volume totaling 1,734 ETH. The project has a fixed supply of 4,444 pixel-style "stockbroker" PFP NFTs (ERC-721 standard). Each NFT is linked to an ERC-6551 Token-Bound Account (TBA). At minting, tokenized stocks (including TSLA, AMZN, NVDA, AAPL, etc.) are pre-deposited, and the account can continue to receive rewards. Via the Anvil NFT AMM, users can swap a random StonkBroker NFT from the protocol vault for a fixed 666,666 units of meme coin STONKBROKER plus a small ETH gas fee; they can also sell an NFT back to the vault for an equivalent amount of tokens. Holders must spend STONKBROKER to "activate" their NFTs. The higher the activation level, the larger the weight of stock token rewards they earn. Part of the activation fee is burned, while the rest goes to the protocol. Fee flywheel mechanism: Around 70% of Anvil AMM transaction fees are converted into real stock tokens and airdropped to activated NFT-bound wallets. BlockBeats reminds users that relevant projects involve high uncertainty and price volatility, so users should exercise caution when investing.
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Jiang Zhuo'er: No signs of a bull market kickoff in funding conditions; a rebound to $68,000–$70,000 may see a final decline.
Jiang Zhuoer, founder of BTC.TOP (formerly LTC Mining Pool), noted in a post that stablecoins in the crypto market are continuing to flow out. Over the past month, USDT’s market capitalization has slipped from $184.2 billion to $183.1 billion, while USDC’s fell from $73.28 billion to $72.15 billion, a total decline of $22.3 billion. The current liquidity situation shows no signs of an imminent bull market. Bitcoin could rebound to the $68,000–$70,000 range at most, before a final drop following the liquidation of short positions.
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To avoid a government shutdown, the U.S. Senate passed a temporary funding bill.
The U.S. Senate passed a temporary measure on Saturday to fund federal agencies through December 11, an effort to avert a catastrophic federal government shutdown weeks ahead of the November midterm elections. According to Fox News, the vote was 90 in favor, 6 opposed, with Senator Lindsey Graham (R-South Carolina) abstaining. The measure does not guarantee a full shutdown is avoided, but it helps prevent a shutdown from occurring on October 1, the start of the government’s new fiscal year. The House of Representatives will still need to reconcile the bill after returning from recess.
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Attacker of Aztec’s private Rollup bridge transfers another 300 ETH to Tornado Cash, bringing total mixed ETH to 500.
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TUT surges over 55% in 24 hours, with its market capitalization climbing to $40 million.
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IMF: Domestic stablecoins may boost demand for U.S. dollar stablecoins
International Monetary Fund (IMF) First Deputy Managing Director Dan Katz said local stablecoins designed to reduce reliance on USD stablecoins may actually accelerate users’ shift toward USD stablecoins. Katz noted that when local stablecoins and USD stablecoins operate on the same blockchain infrastructure, users can swap between them via decentralized exchanges, liquidity pools, or peer-to-peer transactions, which could lower capital conversion costs and shift foreign exchange activities from traditional banks and currency dealers to on-chain platforms. “Local stablecoins could even accelerate the adoption of foreign exchange stablecoins (USD stablecoins),” he said. Citing South Africa as an example, Katz pointed out that while USD stablecoins already have some local adoption there, demand for local stablecoins pegged to the rand is lower. While no definitive conclusions can be drawn yet, users may prefer USD stablecoins due to their higher liquidity, stronger network effects, and broader acceptance across platforms and borders. Katz argued that the impact of stablecoins varies by country context: in highly dollarized economies, stablecoins may primarily replace existing USD-denominated assets; in countries with limited access to USD and weaker economic fundamentals, stablecoins could further increase demand for foreign currency. He called on global regulators to include stablecoin on-ramps, off-ramps, and on-chain trading platforms in their regulatory frameworks to mitigate potential risks.
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.
The missing piece for a generation of Ethereum ETF investors has been yield. That gap might close soon. Grayscale has filed an amended trust agreement for its Ethereum Staking Mini ETF that opens a path to staking substantially all of the fund’s ether holdings, according to the original report. The amendment kicks in only after specified tax conditions are satisfied, and rewards would flow back to shareholders as quarterly cash distributions, with a separate staking fee to be disclosed later.
This isn’t the first institutional staking wrapper to arrive, but it’s the one that directly targets the ETF custody structure that has kept ether holdings idle. Grayscale’s filing frames the mechanism in deliberately narrow terms: the trust may stake its ETH once the tax impact is manageable, the yield gets converted to cash, and the distribution cadence is at least quarterly. No partial staking, no complex on-chain distributions into investor wallets. The simplicity of the design matters because it sidesteps the tax friction that has deterred ETF managers from turning validator rewards into a standard feature.
Structural patience and the tax trigger The amended document does not speculate publicly on what those tax conditions might be. But the obvious reading is that Grayscale is waiting for clarity from the IRS or Congress before flipping the switch. Staking rewards currently land in a grey zone for fund-level tax treatment under US law. The filing says rewards would be converted to cash, which suggests the trust itself would bear the taxation burden as ordinary income rather than passing through a more complex tax event to holders. That keeps shareholder reporting simple. The catch is the separate staking fee, which will be specified later and could eat into the net yield. Without that fee structure disclosed, investors cannot yet compare the after-cost yield to liquid staking tokens or direct staking returns.
The broader regulatory environment adds a layer of uncertainty. A landmark crypto bill is facing last-minute bank opposition in the Senate, as chronicled in this report on the largest crypto legislation vote. If that bill collapses or gets rewritten, the tax conditions Grayscale awaits could shift, delaying or altering the staking rollout. The fund structure exists, but the timing belongs to Washington.
What this does to the ETF product landscape Staking inside the ETF wrapper changes the competitive arithmetic for Ethereum funds. Most existing spot ether ETFs have not offered staking because of the operational and tax headaches. Grayscale’s amended trust puts pressure on those competitors. If the Mini ETF can run staking at scale, it will produce a higher total return than identical products that do not stake, assuming the net yield remains positive after fees. That advantage would likely pull in capital from yield-sensitive allocators who have been using liquid staking derivatives or simply holding ETH outside of fund structures to capture validator rewards.
The Ethereum network itself continues to show robust developer engagement. In a recent snapshot of on-chain activity, Ethereum ranked among the top blockchains by developer activity, underscoring the foundational demand for blockspace that staking helps secure. The ETF does not change that ecosystem, but it does redirect capital flows. If institutional staking demand grows through funds like Grayscale’s, it could gradually raise the staking ratio, which currently sits below the levels seen on some competing layer-1 networks. That dynamic matters for validator economics and could nudge the issuance rate over time, though any such effect would be slow-moving.
Institutional staking is becoming a product category The Grayscale move does not exist in isolation. Across the market, institutional staking has turned from a theoretical offering into a live product. SUI’s recent 18% surge to $1.24 was driven in part by institutional staking demand after a Nasdaq-listed firm entered the space, as detailed in this SUI price analysis. Fund structures are adapting because the client base is now asking for yield as a baseline, not as a bonus. Grayscale’s amended trust is a late-cycle acknowledgment that for Ethereum ETFs to stay relevant, they must mirror the economic experience of holding the underlying asset directly.
What remains uncertain is the net yield after fees and tax drag. Grayscale’s separate staking fee could be set at a level that makes the product uncompetitive against liquid staking token yields. And the tax treatment of cash distributions could leave fund holders with a tax bill that erodes the headline yield advantage. None of that is disclosed yet. The filing opens a door, but the walk through it depends on numbers the market has not seen.
Still, the direction of travel is clear. ETF issuers are no longer treating staking as a bridge too far. They are structuring around tax obstacles rather than avoiding yield altogether. Once the first major staking ETF launches with a competitive net return, the rest will follow quickly. Grayscale has now put its name at the front of that queue.
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Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
BlackRock’s institutional clients poured $38.15 million into Ethereum on July 20, routing their exposure through the regulated ETF wrapper rather than buying the token directly.
The bulk of the capital, roughly $34.3 million, landed in BlackRock’s iShares Ethereum Trust (ETHA). Fidelity’s spot Ethereum product, FETH, picked up an additional $2.8 million. Together, US spot Ethereum ETFs posted approximately $38 million in net inflows for the session, according to data tracked by Farside Investors and SoSoValue.
ETHA keeps winning the daily flow race ETHA has led Ethereum ETF inflows across multiple recent sessions, consistently pulling in more capital than its competitors on days when the complex sees positive flows.
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That pattern mirrors what happened with Bitcoin ETFs after their launch. BlackRock’s iShares Bitcoin Trust (IBIT) quickly became the default vehicle for institutional Bitcoin exposure, and ETHA appears to be following a similar playbook on the Ethereum side.
The $34.3 million that flowed into ETHA on this single day represented about 90% of total Ethereum ETF inflows. Fidelity’s FETH grabbed most of what remained.
Why ETFs, not tokens The preference for ETF wrappers over direct token purchases tells a clear story about who’s buying and why. Institutional allocators, wealth managers, and registered investment advisors operate in a world of compliance checklists, custodial requirements, and fiduciary obligations. Buying ETH on Coinbase doesn’t check those boxes. Buying ETHA in a brokerage account does.
ETF investors don’t deal with private keys, gas fees, or the operational risk of holding crypto directly. They get price exposure with the custody, reporting, and tax infrastructure they already use for everything else in their portfolios.
Context and what to watch The $38 million inflow day lands against a backdrop where Ethereum ETF flows have been inconsistent. Earlier stretches of 2026 saw mixed sessions, with outflows sometimes offsetting gains and leaving the complex in neutral territory for weeks at a time.
When nearly all of the day’s inflows land in a single issuer’s product, it suggests coordinated or large-block institutional buying rather than scattered retail interest. BlackRock’s distribution channels reach sovereign wealth funds, endowments, and large RIAs.
For traders and investors watching the Ethereum market, ETF flow data has become one of the more reliable demand signals. The $38 million figure from July 20 sits comfortably in positive territory.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum is experiencing a significant divergence between on-chain activity and exchange-based trading, according to new data from blockchain analytics firm CryptoQuant. Despite a recent move above $1,900, Ether has remained confined to a narrow price range, struggling to break the $1,950 resistance level.
Exchange liquidity declines as on-chain activity growsCryptoQuant reported that exchange outflows for Ethereum have stayed elevated, while aggregate netflow on exchanges has remained in bearish territory. Netflow reached a low of -48,555 ETH on July 29, staying below the baseline at -18,113 ETH as of August 5. This persistent outflow suggests continued movement of ETH off exchanges, reducing available trading liquidity.
At the same time, large holder activity on exchanges has remained subdued. Inflow and outflow volumes for the top-10 addresses are currently around 41% below their 90-day averages, reflecting limited action from major players.
Binance, one of the world’s largest cryptocurrency exchanges, has seen a notable 43% decrease in stablecoin netflow below its quarterly benchmark, with the weekly average dropping by $25.6 million. This decline points to relatively few new stablecoins entering Binance, signaling a lack of fresh buying power in the market.
Smart contract deployment and staking rates riseIn contrast to weakening exchange activity, Ethereum’s on-chain ecosystem has seen a surge in smart contract deployment. The number of new smart contracts created has jumped roughly 50% above its three-month average, with deployments climbing 18.5% over the most recent weekly baseline.
Meanwhile, the Ethereum network’s staking rate surpassed 34.09%, meaning over one-third of all ETH in circulation is now locked up in staking protocols. This trend further restricts the supply of tradable ETH on exchanges and increases the token’s scarcity for immediate transactions.
Mini dictionary: CryptoQuant is an on-chain data analytics platform that provides real-time blockchain metrics to help investors and traders monitor cryptocurrency markets and blockchain activity.
Futures market and price levelsIn the derivatives market, funding rates for perpetual futures remain close to zero. This indicates a lack of strong directional bets or leverage from market participants. US-based demand has also stayed weak, with the Coinbase Premium ranging between -0.07 and -0.12 over the past two weeks, indicating US investors have not been bidding significantly above global market prices.
CryptoQuant highlighted that the rare combination of shrinking exchange liquidity, elevated staking, and robust smart contract creation has historically set the stage for periods of heightened volatility once substantial directional demand returns, even if the timing remains uncertain.
Analyst Daan Crypto Trades observed that despite Ethereum forming higher highs and higher lows, multiple attempts have failed to push decisively beyond the $1,950 resistance. A close above this level is viewed as a potential catalyst for a renewed trend and extension of the correction from June’s lows.
Analyst Ted noted the existence of a significant liquidation gap. His data showed short liquidations totaling $6.13 billion, compared with $4.1 billion in long liquidations, suggesting the market is currently positioned for “max pain” to the upside should prices move quickly in favor of the bulls.
TypeLiquidationsShort$6,130,000,000Long$4,100,000,000For now, Ethereum continues to trade within a tight range, with exchange liquidity at low levels, staking at an all-time high, and smart contract activity continuing to expand.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Institutional capital continues to flow into cryptos despite volatility that keeps retail investors on the defensive. On Thursday, ETFs backed by bitcoin and Ether recorded more than $220 million in net flows, confirming the intact appetite of traditional finance for these assets. Once again, BlackRock concentrates the bulk of subscriptions and strengthens its role as the main driver of this momentum in the crypto ETF market.
In brief More than $220 million jointly injected into Bitcoin and Ether ETFs during Thursday’s session. A fourth consecutive day of net inflows (+$128.69 million), bringing the four-session total to $755 million. The IBIT fund crushes the competition on Bitcoin with +$128.33 million, while ETHA largely dominates Ether (+$81.14 million). Despite falling prices, the number of shares outstanding remains stable, reflecting a long-term accumulation strategy rather than immediate speculation. Bitcoin ETF : a fourth consecutive day of gains driven by BlackRock The Bitcoin ETFs recorded a net inflow of $128.69 million across six distinct vehicles, extending the current positive streak to four consecutive sessions for a total of $755 million. Once again, the capital allocation among the various funds shows a marked disparity :
BlackRock (IBIT) : a dominating presence with +$128.33 million captured alone ; Morgan Stanley (MSBT) : an additional inflow of +$14.94 million ; Fidelity (FBTC) : a positive flow of +$11.20 million ; Grayscale : an inflow of +$7.48 million on GBTC and +$6.83 million on the Bitcoin Mini Trust ; Bitwise (BITB) : a modest subscription of +$1.75 million ; VanEck (HODL) & Valkyrie (BRRR) : capital outflows of -$32.77 million for VanEck and -$9.07 million for Valkyrie. Despite these conflicting reallocations among managers, overall activity remained particularly strong in the spot derivatives secondary market. The total daily trading volume for all Bitcoin ETFs reached $1.36 billion on Thursday, while the combined net assets under management closed at $78.77 billion.
Thus, the massive concentration of volumes towards IBIT confirms BlackRock’s dominant position as the primary access channel for institutional investors. These figures reflect the persistence of a solid working capital demand among major players, maintaining a regular liquidity floor despite sometimes hesitant short-term price fluctuations.
The Ether surge and selective altcoin momentum On the side of the market’s second-largest asset, the trajectory was even more explicit with a total net subscription of $92.15 million spread across five funds, with no Ether ETF recording any capital outflow during the session. BlackRock’s ETHA product also dominated by collecting $81.14 million. The remaining amounts were subscribed through Grayscale’s Ether Mini Trust fund at $4.55 million, its historic ETHE fund for $3.07 million, BlackRock’s ETHB vehicle for $1.96 million, and Fidelity’s FETH for $1.42 million. With a traded volume of $435.46 million and net assets reaching $10.64 billion for Ether ETFs, this segment confirms a significant resurgence.
By contrast, the landscape was much more mixed regarding other cryptos. XRP-backed ETFs returned to positive territory thanks to an injection of $3.45 million, mostly driven by Bitwise’s fund at $2.89 million and Franklin Templeton’s (XRPZ) at about $562,000, bringing the sector’s net assets to $964.21 million.
The HYPE ETFs continued their recovery trajectory by attracting $2.84 million via Bitwise’s BHYP product, raising the daily volume to $5.10 million and net assets to $265.04 million. Conversely, Solana ETFs took an opposite course, with Fidelity’s FSOL fund registering a net outflow of $859,450, leaving total combined net assets at $857.24 million.
Lawrence Lepard’s insight on holder maturity Beyond daily cash flows, the ownership structure of these vehicles offers a fundamental reading grid on institutional investor attitudes toward price fluctuations. Commenting on the firmness of subscribers amid recent volatility, Austrian economist and investment manager Lawrence Lepard highlighted the remarkable stability of shares held: “although the value of Bitcoin ETFs has dropped significantly from its peak, the total number of shares outstanding has decreased by a much smaller proportion, indicating very limited net sales from holders”.
This observation reveals a marked divergence between spot market volatility and the long-term commitment of ETF holders. As asset management giants centralize most incoming flows, asset data indicate that a significant fraction of institutional investors view these vehicles as strategic allocation instruments rather than mere short-term speculation tools.
While this financial foundation provides valuable structural support to the ecosystem, it also raises questions about capital concentration in the hands of a limited number of financial conglomerates. Upcoming regulatory developments and evolving demand in altcoin-specific derivatives products will determine whether this selective appetite extends to the broader market or continues to primarily benefit the sector leaders.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Key Highlights ETH price consolidates between $1,910 and $1,918, maintaining support above the crucial $1,900 threshold Spot Ethereum ETFs in the US posted $92.15 million in net inflows on August 6, pushing weekly totals to $244.94 million—the strongest four-month period The asset now trades above its 20-day, 50-day, and 100-day moving averages, though still beneath the 200-day MA at $2,061 Disappointing US employment data reduced expectations for Federal Reserve rate increases, providing support to risk-oriented assets like cryptocurrencies Market observers identify $2,000 as the critical next resistance, with $1,900 serving as the dividing line for near-term sentiment Ethereum’s current price hovers in the $1,910–$1,918 range. The digital asset has successfully maintained its position above the psychologically significant $1,900 mark following a week of gradual appreciation.
Ethereum (ETH) Price Over the past seven days, ETH has gained more than 4%. Market participants have repeatedly protected the $1,840–$1,850 zone since early August, preventing any significant downward movement.
ETH has climbed above three critical daily moving averages. The cryptocurrency now sits comfortably above its 20-day MA at $1,895, its 100-day MA at $1,911, and its 50-day MA at $1,796. However, the 200-day moving average remains a barrier at $2,061, with ETH still trading underneath this longer-term indicator.
The daily Bull Bear Power metric has shifted to positive territory at 32.07, indicating buyers currently maintain a slight advantage in the market.
Market analyst Ted Pillows shared insights on Twitter, highlighting that ETH ETFs accumulated $244.94 million worth of Ethereum throughout the week—marking the strongest weekly capital inflow in nearly four months. He added that despite postponements in Clarity Act proceedings, ETH appears fundamentally sound. “Should ETH sustain its position above this threshold, we could witness a push toward $2,000,” he commented.
$ETH is still holding above the $1,900 level.
Clarity Act voting has been delayed, but still Ethereum looks good.
If ETH manages to hold above this level, a rally to $2,000 could happen next. pic.twitter.com/rJiHJh5H8l
— Ted (@TedPillows) August 7, 2026
Institutional Demand and Employment Data Drive Momentum United States spot Ethereum ETFs registered $92.15 million in net inflows on August 6. BlackRock’s ETHA product dominated the previous session, attracting $50.34 million. Total cumulative net inflows into US spot ETH ETFs have now surpassed $11.4 billion.
Friday’s employment statistics from the United States provided additional momentum. The economy shed 23,000 jobs during July, contrasting sharply with forecasts predicting approximately 80,000 new positions. This substantial shortfall weakened arguments for additional Federal Reserve interest rate increases, with futures markets now indicating roughly a 56% probability of no action at the September policy meeting.
BREAKING: The US economy unexpectedly loses -23,000 jobs in July, well below expectations of +85,000.
The unemployment rate fell to 4.1%, below expectations of 4.2%.
June's jobs number was also revised down by -37,000 jobs.
This marks the 3rd biggest monthly job loss since the…
— The Kobeissi Letter (@KobeissiLetter) August 7, 2026
The 4-hour Relative Strength Index registers 61.74, positioned above its signal line yet remaining under the 70 threshold that would signal overbought conditions. Bullish momentum persists without appearing overextended.
Liquidation Data Suggests Upward Pressure Toward $1,950 The 3-day liquidation heatmap reveals concentrated leveraged positions around $1,925, with a more substantial accumulation between $1,945 and $1,955. These areas could function as price magnets if bullish momentum persists.
Piercing through the $1,925 level might initiate forced liquidations of short positions, potentially accelerating upward movement toward $1,950.
Market analyst Michaël van de Poppe suggested that Ethereum may outpace Bitcoin if BTC continues its upward trajectory. His extended target for ETH reaches approximately $2,400, though he emphasized the necessity of clearing both $2,000 and the 200-day moving average beforehand.
The immediate resistance to monitor remains $2,000. ETH concluded Friday’s session near $1,918, with $1,900 functioning as critical near-term support that underpins the current bullish narrative.
US spot Bitcoin ETFs attracted roughly $102 million in net inflows on August 7, while their Ethereum counterparts pulled in about $50 million on the same day. Solana and XRP ETFs, meanwhile, recorded exactly zero net change.
The Bitcoin figure is notable not just on its own but as part of a broader trend. Weekly inflows into spot Bitcoin ETFs crossed the $750 million mark, suggesting the kind of sustained capital allocation that tends to precede more bullish phases in the market.
Where the money is flowing The inflows are spread across products from the usual heavyweights: BlackRock, Fidelity, ARK 21Shares, and Grayscale. These issuers have established themselves as the primary on-ramps for investors who want Bitcoin and Ethereum exposure without actually holding the assets themselves.
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The fact that Solana and XRP ETFs posted flat flows on August 7 tells its own story. These newer products haven’t yet reached the critical mass of investor interest needed to generate consistent daily movement.
A recovering market finds its footing The $750 million-plus in weekly Bitcoin ETF inflows represents a meaningful recovery from earlier periods in 2026 that saw net outflows, when investors were pulling capital amid broader market uncertainty. Price stability across major cryptocurrencies appears to be a key factor in the reversal.
Daily flow tracking from data providers like SoSoValue and Farside Investors has given the market an unprecedented level of transparency into where capital is moving. Every morning, traders and analysts can see exactly which funds gained or lost assets the previous day.
Spot Bitcoin ETFs launched in early 2024, with spot Ethereum ETFs following in mid-2024. By 2026, additional spot products for assets such as Solana and XRP expanded the available array of crypto-linked ETFs significantly.
What the inflows signal for market dynamics The concentration of flows in Bitcoin and Ethereum, with zero movement in Solana and XRP products, reinforces the two-tier structure that has emerged in crypto ETFs.
Sustained weekly inflows above $750 million indicate that this isn’t just a one-day blip driven by a single large buyer. Multiple days of positive flows suggest broader participation across different investor types, from retail accounts to institutional allocators adjusting their portfolio weightings.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
BlackRock’s ETFs linked to Bitcoin and Ethereum experienced a sharp reversal in the second quarter of 2026. Their activity on shares changed from a net increase of $13.9 billion a year earlier to a decrease of $3.5 billion. An annual gap of $17.4 billion that mainly reveals the scale of redemptions.
In brief IBIT and ETHA show a combined net decline of $3.5 billion. The gap with the 2025 increase reaches $17.4 billion. The 106,148 BTC declared do not necessarily correspond to direct sales. The IBIT Bitcoin ETF incurs $2.9 billion in net outflows BlackRock’s iShares Bitcoin Trust concentrates most of the reversal. This evolution continues a sequence during which BlackRock had already sold over a billion dollars of Bitcoin via IBIT, due to redemption requests presented by investors. Between April and June 2026, IBIT recorded $4.3 billion in contributions linked to the issuance of new shares.
At the same time, distributions associated with the redeemed shares reached $7.2 billion. The balance thus stands at -$2.9 billion. The Ethereum fund ETHA also shows a decrease. Its share creations amounted to $943.3 million, against about $1.5 billion distributed in redemptions. Its net contraction thus reaches $583.4 million. Together, the two BlackRock crypto ETFs lose $3.5 billion on this accounting line.
The $17.4 billion shock comes from the annual comparison. In Q2 2025, IBIT and ETHA had recorded a combined increase of $13.9 billion thanks to share creations. One year later, their balance becomes negative $3.5 billion. The gap between these two periods thus reaches $17.4 billion.
The 106,148 bitcoins do not all represent exchange sales Regulatory documents show 106,148 BTC in a category dedicated to assets used during share redemptions. This impressive volume can give the image of a massive Bitcoin sale. However, the technical reality requires more caution.
Since 2025, authorized participants can perform certain creations and redemptions in kind. They can therefore receive bitcoins directly when IBIT shares are canceled. Not all 106,148 BTC concerned have necessarily been sold for dollars on a platform. Part of it may have been transferred directly to intermediaries.
Fund notes notably mention $3.85 billion in in-kind distributions for Bitcoin. They do not provide the exact breakdown between BTC transferred directly and those actually sold. They also do not identify the investors behind the redemptions.
This distinction prevents an exaggerated interpretation. The figure of $17.4 billion does not measure a loss suffered by Bitcoin holders. It also does not prove that BlackRock has liquidated this amount on the market. It reflects the shift from strong share creation to a period dominated by redemptions.
The movement nevertheless confirms a change in institutional behavior. Several major players have already reduced their positions in crypto funds, as illustrated by the massive retreat of institutional exposures to Bitcoin and Ethereum. The market no longer benefits from the almost automatic accumulation observed after the launch of spot ETFs.
Bitcoin must now confirm the return of buyers The first sessions of August offer a beginning of stabilization. Between August 3 and 5, IBIT attracted $478.5 million. ETHA received $83.8 million. These $562.3 million however represent only 15.9% of the net contraction of $3.5 billion recorded in the second quarter.
At this rate, nearly 19 sessions would be necessary to compensate an equivalent amount. Still, entries would have to remain constant. A handful of positive days is therefore not enough to confirm the end of redemptions.
The true indicator will be the duration. Regular flows over several weeks would show that institutional demand is returning. An alternation of inflows and outflows would rather signal a cautious market, in which investors use Bitcoin ETFs to quickly adjust their exposure.
SEC documents ultimately reveal less a Bitcoin collapse than a change of cycle for BlackRock products. The massive creations of 2025 have given way to arbitrage and redemptions. The recent recovery, when American ETFs attracted capital despite Bitcoin’s decline, will have to continue to erase this accounting shock of $17.4 billion.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The Lawsuit and Asset Freeze@Bybit_Official has filed a civil lawsuit in the US District Court for the District of Columbia against North Korea, its Reconnaissance General Bureau, and the Lazarus Group. The action stems from the February 21, 2025 theft of approximately $1.5 billion in $ETH — over 400,000 ETH and stETH stolen from the Dubai-based exchange in what remains the largest cryptocurrency heist on record.
In addition to the lawsuit, Bybit said it won a preliminary injunction freezing certain stolen assets held by a group of unidentified individuals and entities, named in the case as John Doe defendants. The freeze order prevents those parties from transferring or selling the identified assets while litigation continues, giving the civil action real on-chain consequence even as enforcement against a sovereign state remains a longer road.
How the Attack UnfoldedDuring a scheduled transfer from a cold to a hot wallet, the hackers intercepted and rerouted funds to addresses they controlled, quickly converting the loot into Bitcoin and other assets and dispersing them across thousands of blockchain addresses to obscure their trail. The Lazarus Group managed to manipulate the Safe user interface used for Bybit transactions. By injecting malicious JavaScript into the UI, they created the illusion of a legitimate transaction, allowing the attackers to bypass security protocols and facilitate the unauthorized transfer of funds.
The Bybit hack made up the bulk of the $2.02 billion in crypto stolen by North Korea in 2025. In total, North Korean hackers have stolen $6.75 billion worth of crypto, according to data from Chainalysis, with the country widely believed to use stolen funds to finance its weapons program.
CEO @benbybit framed the lawsuit as part of a broader accountability push. "The Lazarus attack wasn't just an attack on Bybit. It was an attack on trust in our industry," he said, adding that Bybit has worked closely with investigators, exchanges, regulators, law enforcement, and now the courts. The civil action is being pursued independently of ongoing criminal investigations.
Sources:
CoinDesk: Bybit Sues North Korea and Lazarus Group, Secures Asset Freeze
FBI IC3: North Korea Responsible for $1.5 Billion Bybit Hack
American Banker: How North Korean Hackers Stole $1.5B in Ethereum from Bybit
Joseph Chalom argues the draft would strip the base rate out from under roughly $35 billion in liquid staking token collateral and could push institutions to sell ETH as they unstake.
Joseph Chalom said SharpLink opposes EIP-8363, a draft Ethereum proposal that would burn part of validator rewards as the staking ratio climbs, in an article published on X on Friday. "Sharplink opposes it," he wrote.
Chalom described the proposal, titled "Tapered Issuance Burn," as phasing in a reduced issuance schedule over about a year and a half, burning a growing share of validator yield as more ETH is staked.
"A growing share of that yield will be burned as more ETH is staked, until roughly half of all ETH staked, at which point yield goes down to 0%," he wrote. At that point, he said, validators would be "living on transaction tips alone that today account for only 15% of staking yields." That account of the mechanism comes from Chalom, a declared opponent, rather than from the proposal text.
His central objection is that staking yield net of costs and inflation functions as "the de facto base rate" underneath decentralized finance. Liquid staking tokens, which he put at roughly $35 billion in total value locked, are "core collateral across onchain lending," he wrote. Removing the yield, in his argument, does not redirect the value that currently funds the ecosystem but destroys it.
Threat to Institutional ETHChalom also framed the change as a threat to the institutional case for ETH, saying it would erase the distinction that makes the asset "natively productive" relative to bitcoin. "In fact, it could lead to institutions selling ETH as they unstake it," he wrote.
He said SharpLink's ETH is staked with validators including Coinbase, Anchorage, Figment and Galaxy Digital, and backs protocols including ether.fi, Linea and EigenCloud.
He argued Ethereum already has a mechanism for making ETH scarcer in the base fee burn, which he said makes the asset deflationary whenever network usage passes a threshold, and called EIP-8363 "an economic and business challenge, not a technical one."
The proposal remains at the discussion stage. The authors opened a topic on Ethereum Magicians with an initial draft dated Aug. 4, describing it as implementing "a modification to the ETH issuance curve by way of a partial burn of validator rewards."
Chalom acknowledged the draft faces a difficult path. "Its odds for passing are long," he wrote. "Its implications are not."
A wave of sophisticated thefts has shaken the cryptocurrency community, exposing a critical flaw affecting the core security of widely used web and mobile wallets. Attackers leveraged a longstanding vulnerability in the CryptoJS JavaScript library to brute-force secret seed phrases, compromising user funds with alarming ease.
Flaw in CryptoJS exposes hundreds of walletsThe vulnerability, identified as “Ill Bloom,” has been linked to the theft of assets from over 2,100 wallet addresses on major blockchain networks including Bitcoin, Ethereum, Tron, Rootstock, and Polygon. Losses attributed to this exploit have now surpassed $5.7 million.
Normally, a standard 12-word seed phrase is designed to be virtually unbreakable, requiring computational timescales beyond the age of the universe to crack. However, CryptoJS library versions 3.x, specifically those starting with 3.1.2 except for 3.2.0 and 3.2.1, had a critical defect in their random number generation functions.
This bug caused the affected versions to produce only weak pseudo-randomness, drastically reducing the number of possible seed phrase combinations and making brute-force attacks feasible even on ordinary home computers.
Compounding the problem, CryptoJS was quietly embedded within hundreds of software packages. Wallet developers widely integrated it without awareness, inadvertently exposing users across many applications.
More than 2,100 wallet addresses across Bitcoin, Ethereum, Tron, Rootstock, and Polygon have fallen victim to Ill Bloom, with total losses above $5.7 million.
The first large-scale incident linked to Ill Bloom occurred on May 27, 2026, when attackers compromised 431 wallets in one day, siphoning off $3.14 million. Bitcoin investors suffered the greatest impact, losing $2.57 million. Ethereum, Rootstock, Tron, and Polygon users also faced significant losses, with values ranging from $23,000 to $286,000 across these networks.
Impacted wallets and user safeguardsBy August, applications confirmed as affected included RWallet (also known as RRWallet), Bexo Wallet, NanChat, Bitcoin Libre, and Milo Wallet. Some projects, notably Milo and RWallet, have ceased operations, leaving users with no dedicated support channels.
Developers of Bitcoin Libre responded by patching the bug in earlier releases. NanChat has issued a new security fix for its users, while an update for Bexo Wallet was still under review in app stores at the time of reporting.
Security researchers warn that updating wallet applications alone is not enough to safeguard user assets. Seed phrases created on versions affected by Ill Bloom remain fundamentally vulnerable, as their entropy was compromised from the start.
Specialists recommend that users review all public addresses potentially exposed, and if risk is detected, immediately transfer funds to freshly generated wallets. They urge the community to avoid storing substantial sums in browsers or mobile wallets whose keys were created with unsafe libraries.
For investors aiming to minimize risks and closely monitor their digital assets, leveraging advanced portfolio tools is vital. CryptoAppsy, for example, eliminates account setup complexity and brings together investments, real-time pricing, and multi-currency management on a single platform. By using features such as smart price alerts, coin-specific news filtering, instant tracking of new altcoins, and macroeconomic data like Fed interest rates, users can remain vigilant and ready to react to changes in market conditions.
Experts emphasize that if a wallet’s seed phrase originated from the defective CryptoJS versions, only migrating to a new wallet that generates fresh keys can restore full security.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Grayscale moves to stake nearly all idle ETH in its mini fund@Grayscale has filed an amendment to the trust agreement governing its Ethereum Staking Mini ETF, making staking the default treatment for virtually all $ETH held by the fund. The amendment, effective on or around August 7, 2026, covers the Third Amended and Restated Declaration of Trust and Trust Agreement for the fund. The only carve-outs are for fees, redemptions, and network emergencies.
Some 161,000 ETH sit idle in the fund, which manages roughly $1.6 billion in assets. The new trust agreement aims to shrink that idle pile toward zero by making staking the default for nearly every coin the fund holds. That idle tranche represents approximately 19% of total holdings.
IRS deadline and shareholder payouts drive the timingThe timing of the amendment was not accidental. An IRS deadline for funds to qualify for the staking safe harbor expired on August 10, just four days after the amendment was signed. The IRS rules, published last November, allow crypto funds to stake without triggering fund-level tax, but rewards must flow out to shareholders at least quarterly.
The guidance, published on November 10 as Revenue Procedure 2025-31, removed a key barrier that had previously prevented regulated investment products from earning on-chain yield from proof-of-stake networks such as Ethereum.
The proposed amendment requires the trust to reduce staking consideration held by the fund to cash no less often than quarterly and to promptly distribute the cash proceeds, net of any trust expenses not assumed by the sponsor, to shareholders. Grayscale plans to make those distributions monthly in practice. The fund has earned $27.3 million in net staking rewards since activating staking in October 2025, according to SEC filings.
Grayscale's Ethereum trust was among the first U.S. spot crypto exchange-traded products to enable staking, and this latest amendment signals an effort to maximise that capability before the regulatory window closed.
Sources:
Grayscale Ethereum Staking Mini ETF Form 8-K, SEC EDGAR
161,000 Idle ETH May Soon Be Staked: What Grayscale Just Changed, Yahoo Finance
Grayscale Ethereum Staking Mini ETF Form 424B3 Prospectus Supplement, SEC EDGAR
Ethereum remains near $1,900, but hidden strength is building through technical breakouts, institutional interest, and massive treasury purchases.
Ethereum has been hovering near the $1,900 level after climbing almost 9% over the past month, but it is still far below its previous all-time high.
New data suggests the crypto asset is building a strong long-term setup, as technical signals and institutional demand continue to support the broader outlook.
Multiple Bullish Signals Analyst Crypto Patel said that the leading altcoin is showing one of its strongest high-timeframe bullish structures. After several failed attempts, ETH has reclaimed its long-term descending trendline and is now consolidating above it. According to the analyst, the structure remains valid as long as it records daily closes above $1,510.
Based on the technical analysis, upside targets of $2,400, $3,000, $3,600, $4,200, and $5,000 were identified, with the final target potentially pushing ETH toward a new all-time high. Crypto Patel added that breakouts typically follow periods of accumulation.
Another bullish signal came from the MVRV Momentum golden cross, according to Ali Martinez. The analyst said that a move toward $3,000 could be on the cards after the altcoin broke above the MVRV level near $1,800. He explained that similar golden cross signals in the past were followed by major rallies.
While analysts have different short-term targets, they broadly agree that the structure is improving. Michaël van de Poppe also sees more upside for Ethereum. According to the MN Fund founder, a breakout appears to be a matter of time, with ETH potentially moving toward the $2,300-$2,500 range.
Strong Treasury Demand Beyond price action, corporate treasuries have overtaken exchange-traded funds (ETFs) as the biggest buyers of Ethereum. The analyst also found that nearly 11% of the asset’s total supply is already locked by ETFs and digital asset treasury (DAT) companies. This growing share of ETH held by these entities points to rising institutional participation in the market.
You may also like: Analyst Forecasts Ethereum Rally to $3K After Key On-Chain Breakout Ethereum’s Network Is Booming, So Why Is ETH Still Underperforming? Ethereum Just Had Its Best Month in a Year: Can ETH Keep Rallying in August? For instance, Bitmine Immersion kept up its aggressive buying streak last week and added another 10,399 ETH to its treasury. The purchase lifted the company’s holdings to nearly 5.8 million units, which is around 4.8% of Ethereum’s circulating supply. It follows a similar purchase of 9,946 units a week earlier. Bitmine Chairman Tom Lee claimed that the crypto outperformed the Nasdaq 100 by 25 percentage points in July.
Earlier this week, Italy’s largest banking group, Intesa Sanpaolo, boosted its Ethereum exposure in the second quarter by significantly increasing its position in a staked ETH ETF from 116,200 shares to 349,600.
A Trump-associated Ethereum wallet has reportedly transferred $100 million worth of ETH to Binance. The move, if confirmed, would represent one of the largest single transfers from a politically linked wallet to a centralized exchange in recent memory.
What the blockchain says Arkham Intelligence, the blockchain analytics firm that tracks wallets belonging to public figures and institutions, has been monitoring multiple Ethereum addresses associated with Trump and his decentralized finance venture, World Liberty Financial (WLFI). The firm has documented a range of transactions from these wallets, including purchases as large as $10 million in ETH and smaller transfers to exchanges like Coinbase for apparent liquidity purposes.
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What Arkham has not publicly confirmed, however, is a single $100 million ETH movement to Binance. Historically, Trump-linked wallet activity has consisted of more modest transfers to centralized exchanges, with larger sums typically tied to WLFI operations rather than direct exchange deposits.
The Trump crypto empire in context Financial disclosures from mid-2026 show the former president holding over $100 million in Bitcoin and more than $55 million in Ethereum. Those are personal holdings alone.
Then there’s WLFI, which has reportedly generated over $1.4 billion in crypto-related gains during certain reporting periods. Roughly 85-87% of USD1, the stablecoin associated with WLFI, is concentrated on Binance, suggesting that Binance isn’t just a trading venue for Trump-linked assets but the primary infrastructure partner.
Trump pardoned Binance founder Changpeng Zhao following his 2024 conviction, and Binance subsequently ramped up promotional support for WLFI products.
Why a $100M transfer to Binance would matter If a Trump-controlled wallet genuinely moved $100 million in ETH to Binance, the most straightforward interpretation would be preparation for a sale. There’s also the possibility that this is an operational transfer rather than a sell signal. WLFI could be moving funds to Binance for staking, lending, or as collateral for USD1 minting. Given how much of the USD1 ecosystem already lives on Binance, a large deposit to that platform doesn’t automatically mean someone is heading for the exit.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SharpLink CEO Joseph Chalom has opposed an Ethereum proposal that could eventually eliminate issuance-based staking rewards, warning that the change may weaken ETH’s appeal to institutions and raise capital costs across decentralized finance.
Summary
SharpLink opposes tapered issuance burn, arguing that native yield helps distinguish Ethereum from Bitcoin. Validator issuance rewards would fall to zero near a 50% staking ratio under the proposal. SharpLink stakes nearly all its ETH and has earned more than 18,000 ETH in rewards. Chalom supports controlling issuance but wants Ethereum to rely on its existing base-fee burn. SharpLink challenges Ethereum staking proposal Chalom said the proposed issuance model would damage one of Ethereum’s main economic advantages by gradually destroying part of the rewards paid to validators.
The SharpLink executive referred to the plan as EIP-8363. However, the mechanism he described matches EIP-8361, the Tapered Issuance Burn proposal previously covered by crypto.news.
EIP-8361 would burn a growing percentage of consensus-layer rewards as more ETH enters staking. The burn rate would reach 100% when approximately 60.25 million ETH, or about half of Ethereum’s current supply, is staked.
Validators would then stop receiving newly issued ETH but could continue earning transaction priority fees and maximal extractable value. The proposal includes an estimated 18-month transition intended to prevent an immediate decline in returns.
Chalom said Ethereum currently offers a variable staking yield of approximately 2.75%. According to his assessment, transaction-related earnings account for only about 15% of total validator rewards, leaving operators heavily dependent on issuance.
Zero ETH yield could pressure DeFi collateral Chalom argued that Ethereum’s staking yield serves as a benchmark for interest rates across its on-chain economy. Liquid staking tokens use validator rewards to generate returns while allowing holders to deploy the underlying value across lending and other DeFi markets.
Around $35 billion is currently locked in liquid staking products, according to figures cited by Chalom. He warned that reducing issuance rewards to zero could increase the effective cost of capital and make returns negative after infrastructure expenses and other operational costs.
That pressure could cause collateral to move toward assets that continue producing yield. Independent validators and smaller staking operators may face the greatest impact because they lack the scale and additional revenue sources available to larger providers.
The proposal’s authors have taken a different view. They argue that Ethereum’s current issuance curve continues encouraging additional staking even after more deposits provide limited security benefits.
“The current issuance curve continues offering a yield of around 1.5% even if nearly all ETH is staked,” the authors wrote in the proposal.
EIP-8361 remains a draft and has not been approved for inclusion in an Ethereum network upgrade.
SharpLink says yield gives ETH an institutional edge Chalom also argued that native yield is one reason institutions may choose Ethereum over Bitcoin. Bitcoin can provide price exposure and serve as a treasury reserve, but it does not produce protocol-native returns for holders.
That distinction is central to SharpLink’s own strategy. As reported by crypto.news, the Nasdaq-listed company had staked nearly 900,000 ETH and earned more than 18,000 ETH in cumulative rewards by April.
SharpLink has also expanded beyond basic validator returns. In May, it committed $100 million to a $125 million on-chain yield fund managed by Galaxy Digital. The fund plans to deploy capital across DeFi liquidity protocols while preserving SharpLink’s broader ETH exposure.
Chalom said issuance represents a transfer of value to validators that secure Ethereum rather than a cost paid to an outside party. Burning those rewards, in his view, would remove value from network participants instead of redistributing it within the ecosystem.
US Ethereum products have started distributing yield The dispute comes as staking becomes more accessible to U.S. institutional investors. Grayscale completed the first staking-reward distribution by a U.S.-listed Ethereum exchange-traded product in January.
Its ETHE product distributed approximately $9.4 million in cash generated from staking activity. The structure allowed shareholders to receive Ethereum-linked income without operating validators or directly managing staked ETH.
Chalom said SharpLink agrees with the proposal authors’ goal of limiting excessive staking and supporting ETH scarcity. However, he argued that Ethereum should pursue that objective through its existing base-fee burn rather than changing the protocol’s issuance-based reward structure.
ETH traded near $1,916 at the time of writing, with no clear price reaction directly linked to SharpLink’s opposition. Debate over the proposal is expected to continue before developers consider whether it should advance toward a future network upgrade.
Ethereum co-founder @VitalikButerin has welcomed moves by @signalapp to support account registration without a phone number, while issuing a stark warning: persistent pseudonymity online is effectively dead.
Signal's Phone Number Problem Buterin's comments came in response to evidence that Signal is reworking its registration system to allow phone-number-free accounts. It appears Signal is laying the groundwork for server support for accounts without a phone number, with recent commits to the public Signal-Server repository on GitHub reworking registration security, account locking, and country statistics so that all of it keeps working when an account has no number on file. Signal's CTO has also echoed the direction of travel publicly.
The phone number requirement has been the standing privacy objection to Signal for years. Buterin reinforced that concern on two fronts. First, phone numbers are a persistent SIM-swap vulnerability, giving bad actors a ready route to hijack accounts. Second, accounts free of phone numbers would complicate future efforts to restrict users by country of origin, thereby reducing the ability of governments to pressure the service into blocking their own citizens.
Phone numbers currently add a small barrier to the signup process, making it more difficult for bad actors to create large numbers of accounts, and Signal is exploring solutions to replace that requirement with another barrier while continuing to protect users and maintain the stability of the service.
Why Pseudonymity No Longer Offers Real Protection Despite welcoming the Signal development, Buterin was blunt about its limits. He argued that pseudonymity has become obsolete in 2026, pointing to numerous channels through which users unintentionally reveal information about themselves over time, including message timing and patterns of contact. AI systems can now stitch these data points together to link an account to a real identity, regardless of whether a phone number is attached.
In Buterin's framing, the only meaningful privacy protection that survives this environment is what he calls message-by-message unlinkability, where no single communication can be tied to the same actor as any other. He noted that Signal has long offered confidentiality through end-to-end encryption, and the removal of phone-number requirements would add a layer of pseudonymity, in which an adversary might initially see only an opaque identifier. But that layer, he argued, is not enough against modern AI-driven analysis.
The territory he considers genuinely defensible is now being explored by mixnet-based protocols and privacy-focused messengers such as Session and SimpleX, which are designed to break the metadata links that conventional apps leave intact. The comments fit a broader pattern of Buterin pressing for stronger privacy defaults across both messaging and the Ethereum ecosystem.
Sources:
Crypto Times: Buterin: Pseudonymity Dead Despite Signal Change
Reclaim The Net: Signal Could Be Working on Accounts Without Phone Numbers
About Signal: Signal is working on registration without a phone number
TLDRSharplink and Galaxy Launch $125 Million FundEthereum Treasury Strategy Expands Beyond StakingSharplink Builds Broader Institutional Crypto ExposureGet 3 Free Stock Ebooks Sharplink stock gains as Galaxy launches a $125M institutional Ethereum yield fund. Galaxy’s new fund adds onchain yield strategies to Sharplink’s growing ETH treasury. Sharplink commits $100M in staked ETH to Galaxy’s new $125M institutional fund. The $125M Galaxy fund expands Sharplink’s treasury strategy beyond basic ETH staking. Galaxy manages the fund using research, protocol reviews, and strict risk controls. Sharplink shares gained 2.23% and closed at $6.43 after launching a $125 million onchain fund with Galaxy Digital. The stock then eased 0.16% after hours to $6.42 during Friday’s extended trading session. The deal expands Sharplink’s Ethereum treasury strategy beyond staking and simple asset accumulation.
Sharplink, Inc., SBET
Sharplink and Galaxy Launch $125 Million Fund Sharplink and Galaxy Digital created the Galaxy Sharplink Onchain Yield Fund with $125 million in committed capital. Sharplink supplied $100 million through assets backed by its staked Ethereum treasury. Galaxy added $25 million and will manage the fund through its digital asset platform.
The fund will target selected onchain yield strategies and other identified digital asset opportunities. Galaxy will use research, protocol reviews, and internal controls when choosing deployments. The structure gives Sharplink another method for generating returns from its Ethereum holdings.
The launch also extends an existing relationship between Sharplink and Galaxy. Both companies now combine Sharplink’s ETH treasury with Galaxy’s institutional digital asset management experience. Their strategy focuses on active blockchain participation rather than passive ownership alone.
Ethereum Treasury Strategy Expands Beyond Staking Sharplink has made Ethereum a central part of its corporate treasury strategy. The company already stakes ETH to earn network rewards from its holdings. However, the new fund creates a wider route for deploying treasury assets onchain.
Galaxy will assess potential opportunities across blockchain protocols before allocating capital. Its process includes proprietary research, protocol analysis, and structured risk controls. Sharplink expects that approach to support a disciplined expansion of its treasury strategy.
The fund could also direct capital toward emerging crypto protocols that need early activity. Many projects secure venture funding but still struggle to build meaningful onchain usage. Sharplink sees targeted deployment as one way to support activity while pursuing potential returns.
Sharplink Builds Broader Institutional Crypto Exposure The fund reflects a wider shift in how some companies manage digital asset treasuries. Corporate strategies have traditionally centered on buying assets and earning staking rewards. New structures now allow companies to seek additional returns through blockchain-based financial markets.
Galaxy has deployed capital across digital asset markets since 2020. The firm has built investment products around crypto markets, infrastructure, and institutional asset management. Its role gives Sharplink access to an established platform for evaluating onchain opportunities.
For Sharplink, the fund broadens its Ethereum strategy without replacing its existing staking program. The company now has a dedicated vehicle for selected onchain yield deployments. The move also strengthens SBET’s connection to institutional Ethereum adoption and active treasury management across digital asset markets.
Ethereum co-founder Vitalik Buterin has voiced strong support for the enhanced privacy steps taken by Signal, a widely used encrypted messaging app, as the platform works toward letting users register without a phone number.
Buterin champions privacy and digital autonomyVitalik Buterin, a prominent advocate for privacy within the crypto ecosystem, has consistently backed initiatives focused on protecting both user data and metadata. In line with his priorities for Ethereum, Buterin argued in an April 2025 essay that whoever controls information wields significant power, stressing the importance of resisting concentrated data collection, especially in the digital sphere where these activities are most viable.
In November 2025, Buterin made notable donations of 128 ETH each to both the Signal Foundation and SimpleX Chat, organizations aiming to allow users to create accounts without having to submit personal identifiers. He specifically commended both platforms for their commitment to enhancing account privacy and strengthening protections for user metadata.
Buterin highlighted that Sybil and denial-of-service resistance are complex without relying on traditional identifiers like phone numbers, and praised ongoing efforts to find privacy-preserving alternatives.
Signal is managed by the Signal Foundation, a nonprofit organization that develops open-source privacy technology. The foundation’s efforts have received global attention from privacy advocates and the broader crypto community.
Mini dictionary: Sybil resistance, a mechanism used in decentralized networks to prevent one entity from creating multiple fake identities and disrupting the system’s operations.
Signal tests phone-number-free accountsCurrently, Signal requires a phone number for account registration, a policy that privacy proponents like Buterin have criticized as a possible vulnerability. Recent updates reported by AboutSignal, an independent project tracking the app’s development, indicate that Signal is implementing back-end support to permit new accounts without requiring a phone number.
Code commits identified in Signal’s server repository reveal that new phone-free accounts will remain separate from existing, phone-linked accounts. This separation means users cannot remove a number from an older account or add one to a phone-free account; instead, the option is available only for new sign-ups.
Signal CTO Ehren Kret addressed the technical and security challenges in March, noting that preventing mass account creation by bad actors was a primary concern. Kret explained that the team is considering ways to attach some form of cost to phone-free sign-ups, which may or may not involve monetary payment. He stated that Signal aims to launch a version of this feature later in the year.
“We gotta figure out some way to induce a cost for signing up without a phone number,” Kret explained, adding that implementation might not necessarily require a financial fee.
Aligning Ethereum’s privacy ambitionsVitalik Buterin has also contributed to efforts to strengthen privacy on Ethereum’s mainnet, with an emphasis on enabling private, uncensorable transactions and unattached on-chain activity. These updates aim to prevent external parties from linking wallet addresses and transaction histories to individual users, though these features remain in development and are not yet live.
Buterin sees the push for privacy on Ethereum and the steps taken by Signal as part of the same struggle: reducing the reliance on identifiable information in digital infrastructure. While Signal’s move would cut the use of phone numbers as identifiers, Ethereum’s initiatives intend to eliminate similar linking mechanisms from blockchain activity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The CEO of one of Ethereum’s largest corporate treasury holders is picking a public fight with some of the network’s most influential researchers. Joseph Chalom, who leads SharpLink (Nasdaq: SBET), came out against Ethereum Improvement Proposal 8363 on August 7, arguing the proposal could hollow out DeFi activity and erode ETH’s competitive edge against Bitcoin.
At the heart of the dispute is a mechanism that sounds innocuous but could fundamentally rewire Ethereum’s economic incentives: a “Tapered Issuance Burn” that would progressively destroy validator rewards as more ETH gets staked.
What EIP-8363 actually proposes The proposal, introduced on August 4 by Ethereum researchers including Justin Drake and Jérôme de Tychey, targets a specific staking threshold: 60.25 million ETH, roughly 50% of the current total supply. Once staked ETH approaches that level, the consensus-layer rewards that validators earn would begin burning away. Cross that threshold, and those rewards drop to zero.
That’s a bigger deal than it might sound. Currently, about 85% of staking rewards come from consensus-layer issuance, with the remaining 15% from tips and MEV (maximal extractable value, the profit validators capture from reordering transactions). Eliminating the issuance component would wipe out the vast majority of what validators earn for securing the network.
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The phase-out would happen gradually, over roughly 18 months. Proponents frame it as a necessary inflation control measure, one that would also prevent staking from becoming too concentrated among large custodial players who can afford to operate at razor-thin margins.
The case against burning validator rewards SharpLink’s Ethereum treasury has been previously estimated at around $3B, making Chalom’s opposition more than academic. He has real skin in the game, and his argument centers on second-order effects that the proposal’s architects may be underweighting.
First, there’s the yield question. Ethereum’s staking yield is one of the asset’s key selling points for institutional investors, particularly those comparing ETH to Bitcoin. BTC generates no native yield. ETH does. Remove that yield, and the calculus for allocating capital between the two largest crypto assets shifts meaningfully.
Second, there’s the DeFi domino effect. Staking yields serve as a kind of risk-free rate for the Ethereum ecosystem. DeFi borrowing rates, liquid staking token strategies, and restaking protocols all calibrate against the base staking return. Pull that floor out, and the entire yield curve for Ethereum-based financial products gets distorted.
Liquid staking tokens, which represent staked ETH and have become foundational building blocks in DeFi, would see their underlying returns crater. Protocols built on top of LSTs would need to find alternative sources of yield or risk becoming economically unviable.
That last point is where Chalom sees a particularly dangerous feedback loop. Ethereum already burns a portion of every transaction fee through EIP-1559, which has been live since 2021. If DeFi activity declines because staking yields have evaporated, fewer transactions mean less fee burn, which means less deflationary pressure on ETH supply. The proposal could, paradoxically, make Ethereum more inflationary by trying to make it less so.
A philosophical divide in Ethereum governance This debate reflects a deeper tension in how Ethereum should evolve after the Merge. On one side are researchers who view excessive staking as a systemic risk, one that concentrates power among large custodial entities. On the other side are holders, treasury managers, and validators who see staking rewards as the economic backbone of Ethereum’s security model.
Chalom’s position aligns with other industry voices who argue that Ethereum’s existing base-fee burn is already doing the deflationary work without requiring a second mechanism that directly targets validators.
The timing of this debate matters. Ethereum has spent years building institutional credibility, from the Merge to the approval of spot ETH ETFs in the US. Corporate treasuries like SharpLink’s represent exactly the kind of adoption the ecosystem has been courting. Proposing to eliminate 85% of staking rewards just as that institutional pipeline matures is, at minimum, a risky strategic move.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The recently released proposal to cap Ethereum staking rewards, EIP-8361, continues to elicit unanimous pushback. According to ETHVA data, out of the 83K staked ETH amongst validators, 99.7% were signaling ‘No’ on the proposal.
Although this is a non-binding check, it’s a community sentiment gauge that tracks the proposal support amongst key stakeholders. The overwhelming 99.7% ‘No’ is a clear indication that the proposal may stall due to limited support.
Source: ETH VA The proposal is currently at EIP (Ethereum Improvement Proposal) or draft phase. For it to be included in the upcoming Hegota network upgrade, it must clear the PFI (Proposal for Inclusion).
At the PFI level, community and developer evaluation must tick off everything, including economic impact, before approval.
However, with massive opposition from a section of solo stakers and top developers, the proposal could stall. Notably, the proposal (tapered issuance reduction) seeks to cap staking rewards at zero if the staking ratio crosses 50%.
Ethereum Foundation under fire for divisive proposal For critics, led by Aave, the move would kill ETH credit markets and push DeFi to other chains. According to Aave CEO Stani Kulechov, the proposal will not make ETH a “less viable asset” or help solo stakers. These are the two main objectives the proposal sought to achieve.
But the criticism has gone beyond the proposal to the Ethereum Foundation (EF), as two of the authors of the proposal are from the organization. Kulechov slammed the EF, adding that,
The EF’s ivory tower academic approach will not solve those challenges. It’s disconnected from the builders in the trenches who choose to build on Ethereum every day. We should not take them for granted.
Source: X Rhett Shipp, CEO of Avant Protocol, also echoed a similar stance, noting that the proposal showed EF’s “huge lack of focus on the things that will actually have impact.”
Amid the ongoing debate, Ethereum [ETH] market sentiment has slightly dropped into negative territory, and the price remained below $2K.
Source: Santiment Overall, the community sentiment is against the proposal as some urge the EF to find new ways to deal with inflation without touching staking rewards.
This may be a setback for the proposal’s likely progress into the next network upgrade. But ETH is currently not deflationary to be considered a store of value (SoV).
Final Summary EIP-8861 proposal critics now shift the blame to the Ethereum Foundation for disconnecting from the community. ETH market sentiment has briefly turned negative in the past two days amid intense debate over the inflation proposal
Coinglass data shows 76,590 traders were liquidated in the past 24 hours for $201.31 million. SoSoValue data shows net inflows of $128.7 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $92.2 million. In the past 24 hours, top losers include Audiera, Ondo and Filecoin. Notable Developments:
CLARITY Act Delayed to September but Bitcoin ‘Doesn’t Really Care,’ Experts Say Trump Says ‘Crypto Is a Big Deal, People Are Paying With Bitcoin’ Bold Analyst Declares the ‘Bitcoin Bull Market Is Here’—3 Signals Why He May Be Right CLARITY Act Delay Means It’s ‘Pretty Much Dead,’ Expert Says: Bitcoin, Ethereum Don’t Care Tom Lee Says ‘Just A Matter Of Time’ Until Bitcoin, ETH Get Going Again MSTR Up 5%, Targets $105 Resistance For the Third Time: What’s Happening? Bitcoin Taps $65,000 but History Suggests One More Shakeout May Be Coming Trader Notes:
Senator Cynthia Lummis (R-Wyo.) expressed frustration in an X post over the CLARITY Act’s stalled progress but vowed to keep pushing for its passage, saying lawmakers have “come too far to quit now.”
Lummis argued the bill is necessary to establish clear U.S. crypto rules, protect consumers from scams and give law enforcement tools to target bad actors. She pledged to continue working with colleagues, declaring that the “fight is far from over.”
Trader Gum sees Bitcoin closely repeating its previous bear-market cycle, with a potential mid-August grind higher followed by a prolonged decline to new lows. A revisit of $57,000 could trigger a breakdown to attractive long-term accumulation levels.
CryptosBatman explained Bitcoin whale activity is mixed, with wallets holding over 10,000 BTC selling for three straight months while 1,000–10,000 BTC holders remain neutral. Meanwhile, 100–1,000 BTC wallets have steadily accumulated. Overall whale holdings have recovered to 3.06 million BTC from 2.87 million in December 2025.
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Circle has launched native USDC and its Cross-Chain Transfer Protocol on OKX’s X Layer, expanding access to regulated dollar-based payments and DeFi applications.
Circle Brings Native USDC to OKX’s X Layer Circle announced that native USDC is now available on X Layer, an Ethereum-compatible layer-2 network developed by OKX. The integration allows developers, businesses, and applications on X Layer to use Circle-issued USDC without relying only on bridged versions.
Native USDC can support decentralized finance applications, payments, trading platforms, and other blockchain-based financial services. Circle said the integration also gives qualified businesses access to USDC issuance and redemption through Circle Mint.
X Layer supports Ethereum-based applications while offering lower fees and faster settlement. The network targets use cases across decentralized finance, payments, real-world asset tokenization, and artificial intelligence applications.
CCTP Enables Cross-Chain USDC Transfers The integration gives users access to CCTP for moving USDC across supported blockchain networks. Circle designed the protocol to transfer USDC between chains without relying on traditional wrapped versions of the stablecoin.
CCTP is now available across 26 blockchains, while native USDC is supported on 36 networks following the X Layer integration. The expansion allows developers to build applications that require access to USDC liquidity across multiple blockchain ecosystems.
X Layer will continue supporting bridged USDC from Ethereum. However, Circle and the X Layer ecosystem are encouraging users and applications to move toward native USDC over time.
USDC Targets DeFi, Payments and AI Applications Native USDC on X Layer also supports payment and financial applications within the network. Payment service providers, fintech companies, decentralized applications and AI agents can use the stablecoin for automated transactions and settlement.
The integration also connects with X Layer’s x402 ecosystem, which supports automated payments between AI agents and services. Developers can use USDC for payments involving application programming interfaces, digital services and other automated transactions.
Qualified businesses can also access USDC issuance and redemption through Circle Mint on X Layer. The service provides businesses with a direct route to use Circle’s stablecoin infrastructure for institutional settlement.
Circle has continued expanding its blockchain infrastructure alongside the X Layer launch. The company recently announced founding validators for its Arc blockchain, including BlackRock, DTCC, Galaxy, Mastercard, Visa, Standard Chartered and other financial and technology companies.
For more ways to spend digital dollars in the real world, investors can explore stablecoin debit cards supporting native USDC integrations.
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are showing surprising resilience despite fading hopes for near-term U.S. crypto legislation.
Crypto Shrugs Off ClarityIn a Schwab Network interview on Aug. 6, Charles Schwab equity research director Adam Lynch noted that the CLARITY Act is "pretty much dead." He added that he does not expect much progress on the legislation for now.
Still, Bitcoin has held relatively firm above $65,000 after briefly dropping to around $62,500 at the beginning of August.
Lynch said the muted response suggests passage of the CLARITY Act was not heavily priced into cryptocurrency valuations.
Ethereum has performed even better with an approximate gain of 18% since June 1, compared with about 7% for Bitcoin.
XRP (CRYPTO: XRP), meanwhile, has lagged the largest cryptocurrencies, falling around 5% over the past month.
Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) increased almost 2% over the past 24 hours.
The Coldcard wallet exploit potentially encouraged some investors to shift toward spot Bitcoin ETFs rather than self-custody their assets.
SoSoValue data shows $754 million of inflows into BTC ETFs this month compared with around $195 million for Ethereum products.
Fed Becomes Next CatalystWith the CLARITY Act fading as an immediate catalyst, Lynch sees inflation and monetary policy potentially becoming more important for crypto prices.
He argued that another acceleration in inflation could encourage investors to rotate toward Bitcoin due to its independence from government-controlled monetary supply.
The Federal Reserve’s September meeting, however, could present a downside risk.
"Anytime the interest rates are going up, you’re going to see things like stocks and Bitcoin and others probably drop a little bit," he said.
AI Pivot Offers BrightspotCrypto-related equities faced a difficult Q2 earnings season, Lynch said, with several companies reporting revenue or other financial misses.
Bitcoin miners were particularly challenged as weaker BTC prices pressured their core mining businesses.
However, Lynch identified miners expanding into AI and data-center infrastructure as relative winners.
Core Scientific (NASDAQ:CORZ) and Cipher Mining (NASDAQ:CIFR) delivered stronger reports and stock-price performance as their businesses increasingly benefit from AI infrastructure demand.
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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.
Ethereum (ETH) is trading above $1,900 after reclaiming its long-term downtrend, putting the $3,000 level back in focus. While some analysts expect a slower recovery, prediction markets and technical indicators suggest ETH could continue moving higher.
When Will ETH Price Hit $3000?Crypto analyst Kaleo said he does not expect Ethereum to trade above $3,000 until 2027, although he added that he would be happy to be proven wrong.
Kaleo also described the current market as “painfully boring” for spot traders, saying it resembles the calm before a larger move. However, he noted that Ethereum still needs to hold above key support levels before a sustained breakout can be confirmed.
The $1,800-$1,900 range remains the nearest support zone. According to Kaleo, the broader bullish structure remains intact as long as ETH closes above $1,510 on the daily timeframe.
Bullish Signals Point to Higher TargetsCrypto analyst Michaël van de Poppe said ETH could move toward the $2,300-$2,500 range if the current trend continues.
On-chain analyst Ali Martinez also noted improving technical signals. He said Ethereum turned bullish after moving above its Market Value to Realized Value (MVRV) 0.8 Pricing Band at $1,800, a level that has historically coincided with major trend reversals.
ETHEREUM IS HEADING TO $3,000
1/6 🧵👇
— Ali Charts (@alicharts) August 6, 2026 According to Martinez, Ethereum has also formed an MVRV Momentum Golden Cross. Similar signals in previous market cycles were followed by rallies of 50%, 74%, 113%, and 166%. He said $3,000 is the next major upside target if buying momentum continues.
If buying pace continues, he believes $3,000 becomes the next major target. While some others predict ETH can hit even $5000.
$ETH Is Quietly Printing One Of The Cleanest Bullish Structures On The HTF
After Multiple Failed Attempts, Price Has Finally Reclaimed The Long-Term Descending Trendline And Is Now Consolidating Above It.
As Long As Daily Closes Hold Above $1,510, The Bullish Structure Remains… pic.twitter.com/UroZdh6n8I
— Crypto Patel (@CryptoPatel) August 6, 2026 Crypto analyst Crypto Patel predicts Ethereum could eventually reach $5,000, although that view depends on continued market strength.
What’s Next for ETH Price?Despite differing views on the timeline, analysts generally agree that Ethereum’s market structure has improved compared with earlier this year.
The next key level to watch is whether ETH can hold above $1,900 and extend its move toward the $2,300-$2,500 range.
If Ethereum breaks above that area, $3,000 is expected to become the next major resistance level. On-chain data shows that more than 10 million ETH previously changed hands around that price, making it one of the network’s largest supply zones.
Beyond $3,000, some longer-term technical outlooks identify $5,000 as a potential upside target, although analysts note that such a move would depend on broader market conditions and sustained buying momentum.
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Ethereum price traded near $1,918 on Friday after reclaiming $1,900, as spot ETF inflows and improving short-term momentum supported another test of overhead resistance.
Summary
Ethereum price held above $1,900, turning the psychological threshold into near-term support. US spot Ethereum ETFs attracted $92.15 million in net inflows on Aug. 6. The 4-hour RSI rose to 61.74, showing bullish momentum without reaching overbought territory. Liquidity clusters near $1,925 and $1,950 could draw price higher, while $1,850 remains key support. Ethereum price action today According to data from crypto.news, Ethereum (ETH) price traded at $1,918.26 at the time of writing, up 0.74% during the daily session. The token reached an intraday high of $1,918.88 after opening near $1,904.
The move extended ETH’s recovery from the $1,850 area and kept its weekly gain above 4%. Buyers have repeatedly defended the $1,840–$1,850 region since the start of August, preventing a deeper correction toward the July lows.
Ethereum price daily chart — Aug. 7 | Source: crypto.news Price has now moved above three closely watched daily averages. ETH is trading over its 20-day moving average at $1,895.45, its 100-day average at $1,911.42, and its 50-day average at $1,796.09.
That alignment improves the short-term outlook, but Ethereum remains below its 200-day moving average at $2,061.80. The gap shows that the latest recovery has not yet reversed the broader downtrend that began after ETH traded above $2,400 in April.
The daily Bull Bear Power reading has returned to positive territory at 32.07. The indicator suggests buyers have regained a modest advantage after bearish pressure briefly returned at the beginning of August.
ETF inflows and US jobs data support ETH Renewed demand for US-listed spot Ethereum exchange-traded funds has provided one catalyst for the move.
The funds recorded about $92.15 million in net inflows on Aug. 6, equal to roughly 48,327 ETH at the reported market price. The latest intake followed net inflows of $60.86 million on Aug. 5, with BlackRock’s ETHA accounting for $50.34 million of that session’s total.
Cumulative net inflows into US spot Ethereum ETFs have now moved above $11.4 billion. The products give US investors regulated ETH exposure through conventional brokerage accounts, although their flows do not always produce an immediate or proportional price response.
A softer US employment reading also helped the wider risk-asset backdrop. Private employers added 44,000 jobs in July, below forecasts of about 70,000 and down from a revised 95,000 in June, according to ADP.
The weaker hiring figure pointed to some cooling in the labor market. However, annual pay still rose 4.4%, and jobless claims remained historically low, leaving uncertainty around the Federal Reserve’s next rate decision. Any renewed increase in rate-hike expectations could weigh on ETH and other risk assets.
Ethereum liquidation map points to $1,950 Ethereum’s 4-hour chart shows price moving above the Supertrend threshold near $1,907.42. Holding that level would preserve the immediate bullish structure and give buyers another opportunity to attack the recent highs.
Ethereum price 4-hour chart — Aug. 7 | Source: crypto.news The 4-hour Relative Strength Index stood at 61.74, above its signal average of 57.76. Momentum therefore favors buyers, but the reading remains below the overbought threshold of 70.
The 3-day liquidation heatmap shows a concentration of leveraged positions immediately above the market near $1,925. A larger liquidity band sits around $1,945–$1,955.
Ethereum liquidation heatmap | Source: CoinGlass These pools could act as short-term price magnets. A push through $1,925 may trigger forced buying from short sellers and accelerate a move toward $1,950.
Above that level, the psychological $2,000 mark becomes the next target. Ethereum would still need to overcome the daily 200-day average near $2,062 before the broader technical structure turns decisively bullish.
Liquidity is also building below the current price. The nearest downside zones appear around $1,890, $1,870 and $1,850–$1,860. Losing $1,900 could therefore expose ETH to a sweep of leveraged long positions in those areas.
The 4-hour Supertrend support near $1,850.62 provides the main bullish invalidation level. A sustained break below it would weaken the recovery and could open a move toward $1,800 or the 50-day average near $1,796.
Analysts see $2,000 as the next Ethereum test Analyst Michaël van de Poppe said Ethereum could outperform Bitcoin if the broader market leader begins another upward move.
“Honestly, if BTC breaks upwards, I’d assume we’re seeing a significantly stronger breakout on ETH rather than Bitcoin.”
His chart placed a broader Ethereum target near $2,400, although ETH would first need to clear resistance around $2,000 and the 200-day moving average.
Analyst Ted Pillows also focused on the reclaimed psychological level and the potential for a short-term continuation.
“ETH is still holding above the $1,900 level. Clarity Act voting has been delayed, but still Ethereum looks good. If ETH manages to hold above this level, a rally to $2,000 could happen next.”
For now, $1,900 separates the bullish and bearish short-term scenarios. A daily close above $1,925 would strengthen the case for $1,950 and $2,000, while a reversal below $1,900 would shift attention back to $1,850.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
ETHGas [GWEI], which tracks Ethereum [ETH] gas fees, rose over 36% after a recent decline. ETH also rebounded slowly, trading near $1,905.
The rally lifted GWEI’s weekly gains above 60%, outperforming Bitcoin [BTC] and the broader crypto market.
Daily trading volume rose over 308%, reaching $30.72 million at press time. Speculative interest around the Ethereum ecosystem appeared to drive the surge.
Why is ETHGas price rising? Ethereum gas fees rose over the past week, signaling increased network activity and possible congestion. Transaction data pointed to a similar rebound.
As per Etherscan, the number of transactions in August was between 3,094 and 6,186. This resulted in the price of ETHGas going up as it tracks the cost of transactions.
Among the drivers of this surge in activity was Ethereum’s lending ecosystem. The ecosystem’s DeFi lending dominance has quietly risen to 67% of all onchain borrowing. It was closely followed by Base Chain, which also contributes to Ethereum fees.
Source: Blockworks Layer 2 (L2) solutions like Arbitrum One [ARB], Optimism [OP], among others, contributed to this spike in activity in the Ethereum ecosystem.
Altogether, ETH and its liquid staking tokens backed more than two-thirds or all DeFi loans. As activity rebounds, the price of ETHGas follows, but how high can it go?
Can GWEI price surpass the $0.028 resistance level? The Bollinger Bands (BB) showed that the token was seeing a lot of volatility after contraction in the first few days of August. The BBs had opened up as the price pushed toward the resistance level at $0.028.
Similarly, the Net Volume indicated buyers dominated sellers. Over 21.8 million were bought on Binance’s perpetual futures market, reinforced by the Long/Short Ratio for accounts, which was at 1.91.
This suggested continuation of more buying activity. This market had been buying since hitting an all-time low (ATL) of $0.01441 on July 30.
Source: GWEI/USDT on TradingView However, this renewed network activity faced a resistance at the $0.028 level. The target remained feasible unless GWEI broke and held below $0.01983.
Even so, for such a trend to continue, the network’s congestion needs to stay. Otherwise, the price of GWEI may revert back to its downtrend.
Final Summary ETHGas rallied over 36% as activity on the Ethereum network rebounded, especially its share of all DeFi loans. GWEI broke above a resistance at $0.01983 as price movement became more volatile with increasing buying activity.
Tokenized real-world assets are one of the fastest-growing corners of crypto, and as of early June 2026, Ethereum held approximately $16.6 billion in distributed tokenized RWA value, representing 52.85% of the entire on-chain RWA market, according to data from rwa.xyz.
The numbers behind the dominance By early August 2026, the total distributed RWA value across all chains had surged to $38 billion. Ethereum’s slice grew to roughly $17.3 billion, though its percentage share dipped to around 45-46% as competing chains absorbed a portion of the overall market expansion.
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Year-over-year growth for Ethereum-based RWAs reached 315%. The nearest competitors are not particularly close. BNB Chain reported $3.6 billion in RWA value in the June snapshot. Solana came in at $2.5 billion.
Why institutions keep choosing Ethereum BlackRock’s BUIDL fund is the clearest proof point. The world’s largest asset manager chose Ethereum as the primary deployment chain for its tokenized money market fund. Franklin Templeton has similarly deployed tokenized fund products on the network.
Liquidity compounds this advantage. The more institutional capital that flows onto Ethereum, the more liquid the secondary markets for those tokenized assets become. The more liquid those markets, the more attractive the platform becomes for the next wave of institutional entrants.
The competitive pressure and what it means The August data showing a share compression from roughly 52% to 45-46% reflects observable movement of assets to cheaper chains as the RWA market matures. Solana and BNB Chain are the most obvious beneficiaries of any such migration, given their existing developer ecosystems and transaction throughput.
Every tokenized treasury, every on-chain money market fund, every fractional real estate transaction processed on Ethereum generates gas fees paid in ETH. A $17 billion asset base does not move, settle, or rebalance for free. As the RWA market grows toward and beyond $38 billion in total value, the baseline demand for ETH as a transactional commodity strengthens.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Nearly half of all tokenized credit funds live on Ethereum. That single stat tells you a lot about where institutional money is placing its infrastructure bets.
According to data from RWA.xyz, Ethereum accounts for 42.9% of the tokenized credit fund market, which has grown to a distributed value of $7.29 billion. The represented value of the underlying assets is even larger, sitting at $36.67 billion.
What’s actually being tokenized Tokenized credit isn’t just a buzzword layered onto existing DeFi lending. These are structured financial products, including collateralized loan obligations, specialty financing vehicles, and institutional credit facilities, wrapped in onchain tokens for faster settlement and broader distribution.
Securitize has emerged as one of the most prominent players in this space. The firm launched the STAC AAA CLO fund with custody from BNY Mellon, built on Ethereum. It also partnered with Apollo Global Management on ACRED, a tokenized credit fund that reported an 8.77% annualized yield from March 2025 through February 2026.
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Other major platforms contributing to the sector’s growth include Centrifuge, Maple Finance, and Hastra, each carving out niches in crypto-native lending, real-world credit origination, and specialty asset pools.
Why Ethereum keeps winning the institutional vote That said, it’s not a monopoly. Solana and Provenance have carved out portions of the tokenized credit market, offering faster transaction speeds and lower costs that appeal to certain use cases.
The broader tokenized RWA landscape, excluding stablecoins, has reached approximately $38 billion in distributed value. Credit represents a significant chunk of that total.
Settlement times illustrate the appeal. A traditional CLO trade can take days to settle through layers of intermediaries. On Ethereum, that same transfer can finalize in minutes.
The acceleration since 2025 The tokenized credit market’s momentum picked up notably starting in 2025, when the combination of clearer regulatory frameworks in major jurisdictions and genuine institutional product launches created a flywheel effect.
Recent market activity reinforces the trend. Ongoing institutional purchases of products like syrupUSDC and new CLO-related token launches suggest the pipeline of tokenized credit offerings is expanding, not contracting.
What this means for the market For investors, the growth of institutional-grade tokenized credit creates new opportunities for yield that sit between the volatility of pure crypto and the modest returns of traditional fixed income. An 8.77% annualized yield from a product backed by Apollo’s credit expertise is a fundamentally different risk profile than yield farming on an anonymous protocol.
The $7.29 billion distributed value also represents a tiny fraction of global credit markets, which run into the tens of trillions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum is experiencing a quiet but significant squeeze. Exchange reserves are draining at a pace of roughly $25.6 million per week, while new smart contract deployments have jumped approximately 50% above the trailing three-month average.
As of August 5, ETH was trading around $1,907, stuck in a tight band between $1,840 and $1,950.
The liquidity drain The amount of ETH sitting on major exchanges has fallen to multi-year lows, with reports pegging total exchange reserves as low as 16.2 million ETH by mid-2026. Some measures suggest these levels haven’t been this low since 2016.
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Staking now accounts for more than 30% of the total ETH supply. Cold storage withdrawals tell a similar story, with holders pulling ETH off exchanges and parking it in wallets they don’t plan to touch anytime soon.
Developer activity tells a different story Smart contract deployments surged roughly 50% above the three-month trailing average around August 5-7, a sign that builders are still betting on Ethereum as their platform of choice. Deploying contracts costs gas and represents a commitment to building something on-chain.
More contracts mean more on-chain activity, which means more ETH gets used as gas, which means more demand for the token even as tradeable supply declines. Throughout 2025 and into 2026, Ethereum has been experiencing a gradual shift from speculative trading asset to productive economic layer, reflected in staking numbers, contract deployment numbers, and exchange reserve numbers.
What the consolidation zone reveals ETH has been hovering around $1,900 within the $1,840-$1,950 range. If a sudden wave of buying interest hits an order book that’s been steadily depleted, the price impact per dollar of buying pressure is larger than it would be in a deep, liquid market. Over 30% of total supply is locked in staking contracts, and those positions tend to be sticky.
Thin liquidity cuts both ways: a sudden macro shock or regulatory crackdown could trigger forced selling into a thin order book, amplifying downside volatility just as the supply dynamics could amplify upside.
Disclosure: This article was edited by Editorial Team. 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.
Jane Street plans to transfer $11 billion in public debt to external investors to gain flexibility for further AI investments.
According to a Financial Times report, Jane Street is in talks with investors including Pimco to shift roughly $11 billion in debt from public markets to private instruments via a private credit deal. Analysts note that the debt move is aimed at reducing quarterly financial disclosure requirements to numerous creditors, while giving the company greater flexibility to further invest in AI infrastructure such as data centers and related technologies.
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U.S. July New York Fed 1-year inflation expectation stands at 3.63%, below forecast.
US July New York Fed 1-year inflation expectation comes in at 3.63%, versus the forecast of 3.71% and prior reading of 3.67%.
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UBS: Gold rally has solid support, gold prices expected to approach $5,000 next year.
UBS Chief Investment Officer Ulrike Hoffmann-Burchardi and her team stated: “This round of gold rally is underpinned by fundamentals. We expect gold prices to approach $5,000 per ounce in the first half of 2027.” Since the U.S. and Israel launched strikes against Iran in late February, gold prices came under pressure and dipped temporarily. UBS strategists noted that near-term risks persist: if oil prices rise, or if the market prices in a more hawkish Federal Reserve monetary policy and higher bond attractiveness, gold prices will face headwinds. However, the bank remains optimistic about gold’s medium- to long-term outlook. Hoffmann-Burchardi added that her team anticipates inflation will gradually ease, the Fed is expected to hold interest rates steady this year, and will restart its rate-cut cycle in 2027. “Rising expectations of lower policy rates will likely push down real yields, weigh on the U.S. dollar, and in turn boost gold investment demand, creating a more favorable market environment for gold.”
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Kalshi launches AI risk control tool Blanket to help small businesses hedge operational risks through prediction markets.
Prediction market platform Kalshi has announced the launch of an AI tool called Blanket, designed to help small businesses hedge operational risks—including those related to weather, energy prices, tariffs, and elections—using event contracts. Developed by independent fintech entrepreneur Lauris Zminsky, Blanket operates on Kalshi’s CFTC-regulated prediction market but is not an in-house product of Kalshi. The tool does not directly execute trades or process funds; instead, it leverages AI to analyze the risks faced by businesses and recommend Kalshi event contracts suitable for hedging.
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Glassnode: Bitcoin options sentiment is improving, but demand for long-term downside protection remains high.
Glassnode’s market analysis notes that sentiment in the Bitcoin options market is improving, with short-term downside skew declining sharply. The 1-month 25 Delta Skew has dropped to around 7%, signaling recent panic has eased. However, longer-term skew remains at roughly 10%–12%, pointing to ongoing demand for downside protection. Currently, BTC call options hold an open interest of approximately $15 billion, exceeding put options’ roughly $10 billion. Recent capital inflows are concentrated in the $61,000–$67,000 range, with notable buying activity for $65,000 call options. Glassnode concludes the market is shifting toward more bullish positions but has not abandoned risk hedging.
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BlackRock records 4 consecutive days of $BTC inflows totaling 9,269 $BTC ($604M)
BlackRock has seen 4 consecutive trading days of $BTC net inflows, totaling 9,269 $BTC ($604M).
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.
Ethereum controls 52.5% of the tokenized ETF market, a sector that has swelled to $639M in total market capitalization. The other nine chains competing for this space collectively hold the remaining 47.5%.
Tokenized ETFs are exactly what they sound like: traditional exchange-traded funds reissued as digital tokens on public blockchains. Instead of settling through legacy clearinghouses over multiple business days, these products trade and settle on-chain, often around the clock.
Ethereum’s grip on tokenized finance Data from July 2026 showed Ethereum holding roughly 62% of tokenized ETF market cap when the sector’s total value sat at around $526.4M. So while the overall pie has grown to $639M, competitors have been eating into Ethereum’s lead.
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Providers like Ondo Finance have been key drivers of activity on Ethereum, tokenizing some of the most widely held US equity ETFs. Products tracking the S&P 500 through IVV and SPY, along with the Nasdaq-100 via QQQ, are now available as on-chain tokens.
On the Solana side, xStock has carved out its own lane with products like SPYX and QQQX, tokenized versions of major equity ETFs built for Solana’s faster transaction speeds.
Small pond, big fish The $639M tokenized ETF market cap is roughly 0.003% of the traditional ETF industry’s $23 trillion-plus valuation.
CoinGecko data from early August 2026 showed the market cap fluctuating between $523M and $553M, meaning the sector has added meaningful value in a short window to reach $639M.
Ethereum also holds a notable 34% share in the broader tokenized stock market, which includes individual equities beyond just ETFs. That’s a smaller slice than its ETF dominance, suggesting that competitors have found more success tokenizing individual stocks than fund products.
The race beneath the surface The compression of Ethereum’s share from 62% to 52.5% over recent months reveals something important about blockchain competition. Nine chains splitting 47.5% of the market means no single competitor has emerged as a clear second-place player, but the collective pressure is real.
Solana’s presence through xStock is the most visible challenge, leveraging its high throughput and low fees to attract cost-sensitive traders.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin price traded above $64,400 while Ethereum remained above $1,900. XRP hovered near $1.05.
Crypto markets remained cautious after the U.S. Senate postponed the CLARITY Act vote until September. The delay pours regulatory uncertainty in the digital asset market.
Senate majority leader John Thune verified that legislators would not vote until after the August recess. Senators are expected to reconvene, and the legislation is expected to come back.
There is now just a 13% chance that the Crypto Clarity Act gets passed at some point in 2026, down from the almost 50% odds earlier this month
Polymarkcap data The CLARITY Act will not get a Senate vote before the August recess, with Senate Majority Leader Thune confirming a September vote, calling it “queued up first thing when we come back.”
Bitcoin Price Eyes Major Breakout as Four-Day ETF Inflow Streak Continues Bitcoin price fluctuated above $64,400 as traders monitored higher ETF trading and imminent resistance areas. There is still no decisive momentum in the market and steady institutional inflows are sustaining sentiment.
The nearest resistance is at $66,500, and breaking out would drive Bitcoin to the psychological mark of $68,000. The continued momentum at the level above 68,000 can open the way to $70,000, which is the key bullish goal under the present circumstances.
On the downside, future Bitcoin prediction must hold the $63,000 support zone to preserve this outlook. Any further fall below that point might reveal $61,500 prior to the crucial zone of support at $60,000.
Meanwhile, U.S. spot Bitcoin ETFs attracted $129 million on August 6. The inflows marked a fourth consecutive positive session. Ether ETFs also registered net inflows of 92.15 million in three days.
Bitcoin Spot ETFs Record $129 Million in Net Inflows on August 6, Marking Four Straight Days of Inflows
On August 6 (ET), Bitcoin spot ETFs recorded total net inflows of $129 million, marking four consecutive days of net inflows. Ethereum spot ETFs recorded total net inflows of… pic.twitter.com/GS4MZVjka2
The initial significant positive target for the long-term ETH projection around $1,950. A successful breakout could bring the psychological $2,000 level back into focus.
Ethereum price may then aim at about $2,100 in case the momentum gains momentum above $2,000.
However, the $1,850 area remains an important short-term support. A breakdown could push Ethereum toward $1,800.
XRP Price Outlook After CLARITY Act Vote Moves to September At the time of writing, XRP trades near $1.05 after the CLARITY Act vote was pushed to September. The short-term recovery structure is intact as the token is still above the key level $1.00 support.
The nearest resistance is at $1.08, and a breakout may lead to the opportunity of breaking into $1.12. Additional gains beyond $1.12 will push XRP to the $1.18 target.
Tradingview Nevertheless, a decline below $1.00 may undermine the momentum and reveal $0.95. The key positive levels of $1.08, $1.12 and $1.18 are being monitored by traders ahead of the delayed vote in September. Above existing support, momentum is positive.
CLARITY Act Delay Keeps Crypto Markets Cautious The decision of the Senate eliminates a short-term regulatory impetus on the cryptocurrency market.
The legislators will have more time to work out outstanding clauses before resuming in September. Until then, technical levels could play a larger role in determining short-term direction.
Bitcoin price will require a breakout of $68,000 stronger, and Ethereum price will need to reclaim $2,000. To reach $1.18, XRP price needs to rise above $1.12.
Jane Street plans to transfer $11 billion in public debt to external investors to gain flexibility for further AI investments.
According to a Financial Times report, Jane Street is in talks with investors including Pimco to shift roughly $11 billion in debt from public markets to private instruments via a private credit deal. Analysts note that the debt move is aimed at reducing quarterly financial disclosure requirements to numerous creditors, while giving the company greater flexibility to further invest in AI infrastructure such as data centers and related technologies.
3 minutes ago
U.S. July New York Fed 1-year inflation expectation stands at 3.63%, below forecast.
US July New York Fed 1-year inflation expectation comes in at 3.63%, versus the forecast of 3.71% and prior reading of 3.67%.
3 minutes ago
UBS: Gold rally has solid support, gold prices expected to approach $5,000 next year.
UBS Chief Investment Officer Ulrike Hoffmann-Burchardi and her team stated: “This round of gold rally is underpinned by fundamentals. We expect gold prices to approach $5,000 per ounce in the first half of 2027.” Since the U.S. and Israel launched strikes against Iran in late February, gold prices came under pressure and dipped temporarily. UBS strategists noted that near-term risks persist: if oil prices rise, or if the market prices in a more hawkish Federal Reserve monetary policy and higher bond attractiveness, gold prices will face headwinds. However, the bank remains optimistic about gold’s medium- to long-term outlook. Hoffmann-Burchardi added that her team anticipates inflation will gradually ease, the Fed is expected to hold interest rates steady this year, and will restart its rate-cut cycle in 2027. “Rising expectations of lower policy rates will likely push down real yields, weigh on the U.S. dollar, and in turn boost gold investment demand, creating a more favorable market environment for gold.”
3 minutes ago
Kalshi launches AI risk control tool Blanket to help small businesses hedge operational risks through prediction markets.
Prediction market platform Kalshi has announced the launch of an AI tool called Blanket, designed to help small businesses hedge operational risks—including those related to weather, energy prices, tariffs, and elections—using event contracts. Developed by independent fintech entrepreneur Lauris Zminsky, Blanket operates on Kalshi’s CFTC-regulated prediction market but is not an in-house product of Kalshi. The tool does not directly execute trades or process funds; instead, it leverages AI to analyze the risks faced by businesses and recommend Kalshi event contracts suitable for hedging.
3 minutes ago
Glassnode: Bitcoin options sentiment is improving, but demand for long-term downside protection remains high.
Glassnode’s market analysis notes that sentiment in the Bitcoin options market is improving, with short-term downside skew declining sharply. The 1-month 25 Delta Skew has dropped to around 7%, signaling recent panic has eased. However, longer-term skew remains at roughly 10%–12%, pointing to ongoing demand for downside protection. Currently, BTC call options hold an open interest of approximately $15 billion, exceeding put options’ roughly $10 billion. Recent capital inflows are concentrated in the $61,000–$67,000 range, with notable buying activity for $65,000 call options. Glassnode concludes the market is shifting toward more bullish positions but has not abandoned risk hedging.
3 minutes ago
BlackRock records 4 consecutive days of $BTC inflows totaling 9,269 $BTC ($604M)
BlackRock has seen 4 consecutive trading days of $BTC net inflows, totaling 9,269 $BTC ($604M).
Ethereum researchers just wanted to reduce staking incentives. Instead, they sparked one of the biggest debates over the network’s economics since the Merge.
Ethereum Improvement Proposal EIP-8363, or “Tapered Issuance Burn,” would gradually reduce staking rewards as more and more Ether is locked up to secure the network — eventually cutting new protocol issuance to zero once 50% of ETH’s supply is staked.
Its authors, including Ethereum Foundation’s Justin Drake and Ethereum Community Conference (ETHCC) co-founder Jerome de Tychey, argue that Ethereum has reached the point where additional staking provides diminishing security returns, while diluting holders who choose not to stake.
In other words: Ethereum should stop paying for security it no longer needs.
There’s just one problem, a lot of people hate the idea.
From DeFi builders to staking providers and institutional investors, critics argue it could weaken decentralization, disrupt Ethereum’s lending markets and undermine confidence in the network’s monetary policy. As Ether.fi founder Mike Silagadze puts it:
“This is so disappointing on every level. [...] This is bad for decentralization, this is bad for Ethereum adoption, and this is bad for the credibility of the network.” Dr. Steve Berryman, Bitwise’s head of client partnerships for Ethereum, tells Magazine:
“Institutional adoption requires certainty and playing with the issuance at the margin would cause uncertainty and institutions hate uncertainty.” So is Ethereum really paying too much for security, or is EIP-8368 a solution in search of a problem?
Is Ethereum over-staked?Ethereum currently has around 41.5 million ETH staked, earning 2.67%, and representing 34.07% of the entire supply, according to the Ethereum Validator Queue.
EIP-8363, Tapered Issuance Burn. Source: Jerome de Tychey
While more ETH locked up generally makes the network harder to attack, EIP-8368’s authors argue those security gains become increasingly marginal while Ethereum continues issuing rewards to validators.
EIP-8363 would gradually remove that incentive, and the authors argue Ethereum should stop subsidizing additional staking once the network is sufficiently secure.
Yet not everyone agrees that the problem even exists in the first place. It’s certainly true that the amount staked has increased substantially in 2026, up 15% since the start of the year.
Berryman argues that market forces are already slowing participation without the need to change Ethereum’s issuance policy.
“We will come to a natural ceiling probably by the end of this year,” he says, arguing that yields falling to around 2% are unlikely to attract significantly more ETH to be locked up in staking. “People need a certain amount of liquidity,” he says.
Berryman says recent growth has largely been driven by institutional entrants such as Bitmine and BlackRock, but argues that once those players complete their staking allocations, participation is likely to plateau again.
Source: Validatorqueue.com
Ethereum commentator Leo Lanza, who also opposes the proposal, challenges the core assumption that issuance on Ethereum represents a meaningful “stealth tax” on non-stakers.
Ethereum’s annual inflation remains below 1%, he says, arguing that even gold, widely viewed as the world’s premier monetary asset, expands its supply by roughly 1% to 2% annually:
“The free market already solves this [...] Let the market adjust.”Could the cure be worse than the disease?Supporters of EIP-8368 argue the change would curb unnecessary issuance and discourage staking from becoming overly concentrated among large custodians and liquid staking providers. But critics say the proposal risks creating bigger problems than it’s trying to solve.
Greg Koumoutsos, technical research lead at the Lido Labs Foundation, says today’s staking ratio of around one-third of ETH supply does not appear unhealthy, though he agrees it is reasonable to think proactively about excessive staking.
More importantly, he argues the proposal oversimplifies what Ethereum’s issuance is actually paying for:
“Ethereum is not only paying for slashable ETH; it is paying for decentralization, operator diversity, censorship resistance, and network resilience.”Koumoutsos says lower issuance is not automatically a better security policy unless those broader trade-offs are also taken into account.
Another factor to consider is that liquid staking is now deeply integrated into Ethereum’s DeFi ecosystem, and staking derivatives are widely used as collateral and in lending and yield strategies.
“It will obviously kill a huge chunk of DeFi which is built around the staking ecosystem,” Silagadze argues.
Stani Kulechov, founder of Aave, Ethereum’s largest decentralized lending protocol, says that reducing staking rewards risks undermining that broader ecosystem.
“My concern is... those who are fine with ETH beta and yield might also sell ETH for other yielding assets [...] Ethereum should not be punished for its growth.”Smaller validators will bear the costAnother concern with the proposal is that lowering staking rewards could actually increase concentration among the largest participants.
“I stand firmly opposed to this EIP.” Source: Leo Lanza
That’s because independent validators do not benefit from the economies of scale that larger staking businesses, exchanges or institutional operators do. Lower protocol rewards could make solo staking uneconomical while larger organizations continue operating. Koumoutsos says:
“A solo validator has real costs: some ideological solo stakers may remain, but many marginal solo validators will not, and fewer new ones will enter, if any.”He adds that centralized platforms also stake for reasons beyond yield, such as customer retention, regulatory positioning and product integration, which makes them less likely to reduce their participation.
Koumoutsos also warns that even within delegated staking, lower rewards could favor centralized custodial products over onchain staking protocols, which face higher maintenance, governance and upgrade costs.
A debate over more than stakingSupporters say lower issuance would strengthen Ether’s long-term monetary profile. But critics argue that continually adjusting Ethereum’s monetary policy undermines its claims to be predictable and reliable.
Berryman argues institutions value predictability more than marginally higher yields, and that changing the curve creates yield governance risk. “Institutional investors will price accordingly,” he says.
He also says institutions value staking not because the yield is especially high, but because it provides a predictable return while they hold ETH:
“It’s not broken, why try and fix it?”Silagadze agrees, saying, “Any nation state or large institution looking at this will justifiably have a dramatic loss of confidence in the governance and stability of Ethereum.”
The proposal’s rollout also drew criticism for being published just two days before the Aug. 6 deadline for proposals to be considered for the next Ethereum network upgrade.
Silagadze says that a change with “far reaching implications for all of DeFi” should not have been published on such a short timeline.
The fierce backlash has shown how difficult it has become to change Ethereum’s economics, especially when every adjustment creates winners and losers across staking, DeFi and institutional markets.
Magazine: Ethereum’s much-hated staking ‘tax’ may already be obsolete
Cointelegraph publishes long-form journalism, analysis and narrative reporting produced by Cointelegraph’s in-house editorial team with subject-matter expertise. All articles are edited and reviewed by Cointelegraph editors in line with our editorial standards. Some articles contain affiliate links, from which Cointelegraph may earn a commission. These relationships do not influence which products we review or our editorial conclusions. Content published in here does not constitute financial, legal or investment advice. Readers should conduct their own research and consult qualified professionals where appropriate. Cointelegraph maintains full editorial independence.
Tokenized real-world assets (RWAs) deposited into decentralized finance (DeFi) lending platforms and exchanges have more than tripled over the past year, rising from $2.3 billion to $7.4 billion according to new data from CoinShares and Token Terminal. The increase in RWA adoption comes even as total DeFi deposits fell by approximately 15% during the same period.
Shift in trading volumes and asset concentrationThe joint report, “The Growth of Hybrid Finance,” draws from Token Terminal data and covers the second quarter of 2025 through the second quarter of 2026. The findings highlight a significant divergence between the performance of traditional DeFi assets and tokenized real-world instruments on-chain. While aggregate spot volumes on decentralized exchanges declined by roughly 70% year-on-year, trading volumes for RWAs surged about 220%.
Notably, on perpetual futures venues, trading volumes and open interest in tokenized real-world assets continued to grow, even as the broader DeFi sector slowed beginning October 2025. RWAs now represent more than a quarter of open interest in on-chain perpetual futures contracts.
Tokenized Treasury and multi-strategy funds, including JTRSY, BUIDL, and sUSDS, accounted for the largest share of these assets, followed by private credit offerings like JAAA, syrupUSDC, and PRIME, as well as delta-neutral strategies such as sUSDe. Spot trading volume was led by tokenized gold, while perpetuals activity was concentrated in oil, precious metals, US equities such as the S&P 500 and Nasdaq-100, and technology and semiconductor stocks.
CoinShares co-founder and CEO Jean-Marie Mognetti commented on the trend, emphasizing that the rise of RWAs on-chain does not imply investors are leaving traditional financial markets:
Investors are not leaving traditional finance behind. Treasuries, gold, the S&P 500, semiconductor stocks—all of these are actively being used on-chain, and none is a crypto asset.
Ethereum remains dominant, but new platforms emergeNearly 70% of all RWA collateral is currently deposited on lending venues built on Ethereum. Plasma holds the position as the second-largest network, supported by Aave’s expansion beyond Ethereum, while Solana’s growth in the sector has been driven primarily by native RWA lending platform Kamino. The largest concentrations of deposits are found on Aave, Morpho, and Kamino.
Despite this surge in on-chain activity, the associated revenues for trading and lending platforms have not expanded at the same rate; application revenues actually declined over the past year, which the report attributes to the early stage of RWA adoption. Hyperliquid has been the key outlier, generating significantly higher application revenue than its competitors and surpassing both Solana and Ethereum as the top revenue-generating chain. In July, Decrypt reported that real-world asset volumes exceeded those of crypto assets on Hyperliquid for the first time in a single week, with semiconductor manufacturer SK Hynix recording the highest trading volume.
Market context and future outlookEarlier in the year, tokenized real-world assets grew 8.7% month-on-month to reach $24.8 billion, while DeFi’s total value locked declined 25% to $94.8 billion. According to 1inch co-founder Sergej Kunz, investors rotated capital from DeFi due to compressed yields, moving toward tokenized Treasuries offering around 4%. BlackRock, cited in the report for its BUIDL fund, has recently launched two more tokenized money market funds and introduced tokenized share classes for European money market funds collectively holding $311 billion.
However, the scale of tokenized RWAs remains limited in comparison to traditional finance. Approximately $2.2 billion of global equity—valued at over $100 trillion—has been tokenized so far, a level the report compares to stablecoins’ early market position in 2019. The analysis only considers distributed assets that can move outside their issuing platforms, and thus omits networks like Canton and Provenance.
The fast-evolving RWA sector also underscores the importance of sophisticated tools for investors. Platforms such as CryptoAppsy, which streamlines portfolio management and enables users to monitor real-time prices and market data without creating an account, are helping investors keep pace. With features like smart price alerts, curated news filtering, discovery of newly listed altcoins, and macroeconomic indicators such as Fed interest rates all accessible on a single dashboard, investors gain an edge when tracking these assets and responding to market moves.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH) This week, Ethereum continued to range without any significant volatility. This has allowed the price to consolidate under the $2,000 resistance. At the time of this post, the support at $1,800 is holding well and was recently re-confirmed.
The concern, based on this price action, is that ETH does not have the strength to break above $2,000. Any attempts in the past few weeks were rejected and sellers could speculate on an opportunity to take over.
Looking ahead, Ethereum remains in a macro downtrend, and this will only change once the price makes a higher low and high. Ideally, ETH secures $2,000 as support and aims for $2,400 next to escape the current downtrend.
Source: TradingView Ripple (XRP) As expected, XRP broke below its latest pennant (in blue on the chart) to re-test the key support at $1. It is critical for buyers to hold here, as otherwise, the price may end up in a nosedive.
Because sellers have the advantage at the moment, the price closed the week 4% lower. Hopefully, buyers return here to send XRP higher, but even if they try that, it could end up as a dead cat bounce.
Looking ahead, the price action remains bearish with a lower low more likely than a reversal. If $1 turns into a resistance, then XRP will have a difficult time stopping its downtrend in the future.
Source: TradingView Cardano (ADA) Cardano is one of the few major altcoins closing in double-digit gains this week with an impressive 18% pump. This has allowed the price to move to $0.20 and may go all the way to $0.23, where there is major resistance.
With the current support at $0.15 secured, ADA has good momentum and buyers to sustain this uptrend. The biggest question is how sellers will react at the key resistance. Best to be patient and wait for a reaction at $0.23 first.
Looking ahead, Cardano has a major opportunity to break away from its multi-year downtrend. Moreover, this is the first time in months when the price action turned positive. However, bulls will need to turn $0.23 into support if they want to sustain this uptrend.
Source: TradingView Binance Coin (BNB) Binance Coin was flat this week and mirrors ETH’s price action, but in a more toned-down way. On the positive side, the price appears to hold above the support at $580. However, buyers did not push much beyond this level, which shows a lack of conviction.
Since sellers are also absent, the price was forced to move sideways and did not give any hints at a decisive direction. Best to watch closely how the $580 level is resolved before picking a side.
Looking ahead, BNB has been moving around the $600 level since the start of the year without any major breakout. While the price remains in a downtrend, this has been less aggressive lately which may hint at a possible reversal later this year.
Source: TradingView Hype (HYPE) HYPE managed to close 3% higher this week after a successful test of the $52 support level. However, this could end up as a temporary bounce before sellers return to push against the key support again.
On higher timeframes, Hyperliquid has lost its uptrend, and the price is making lower lows. This is bearish. If buyers cannot reclaim $64 in the future, which is also a major resistance, then sellers could take this cryptocurrency much lower.
Looking ahead, the battle will be decided at the $52 support level. So far, this has held against the pressure from bears, but a renewed push later in August may see HYPE make new lows. Best to be cautious here as the price continues to show weakness.
Source: TradingView 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.
Ethereum currently trades within the $1.9K mark. The ETH market saw a liquidation of $49.37 million. The largest altcoin, Ethereum (ETH), has broken above its MVRV 0.8 Pricing Band at $1,800, a threshold that has historically marked meaningful shifts in momentum. When the asset clears the higher level, the next destination would be near $2,300. Beyond that, $3,000 is the key level.
With more than 10 million ETH previously changing hands around that price, making it one of the most significant resistance zones on the chart. Adding weight to the bullish case, Ethereum has formed an MVRV Momentum golden cross. Previous signals of this kind were followed by rallies of 50%, 166%, 74%, and 113%, respectively.
Moreover, ETH is currently trading at $1,914, up by 2.47%, with its trading volume surging 20% to $9.64 billion. The session ranged between $1,854 and $1,922, and that high is sitting right against the resistance zone where sellers have started to respond. The market has also seen $49.37 million in ETH liquidations.
The bounce from the long-term ascending trendline played out as expected, and ETH successfully reclaimed that structure and shifted from a defensive posture into a recovery phase. The next question is whether bulls can push through resistance.
ETH’s Major Levels to Watch Zooming in on the short-term price pattern, the first resistance level of ETH could likely be at $$1,937. If it is pushed higher, stronger momentum might be seen on the chart. A stronger move above $1,959 confirms that buyers are gaining control. The emergence of the golden cross would target higher levels.
On the other hand, with a bearish turn, the immediate support might be at around $1,891, followed by a level lower as the correction intensifies. A deeper zone observed below $1,868 would serve as a crucial area that decides whether it stabilises or continues to fall along with the formation of a death cross.
What Lies Ahead for Ethereum? Ethereum’s technical setup indicates a strong uptrend with expanding momentum. The Moving Average Convergence Divergence (MACD) line is above the signal line, and they are found over the zero line. The long-term trend is bullish.
The asset is in a high-conviction markup phase, and the buyers are in full control of both the short-term and long-term timeframes. As long as this structure stays like this, the path of least resistance is up.
ETH’s daily Relative Strength Index reading sitting at 58.35 indicates a moderate bullish tone, with buyers maintaining control without pushing the market into extreme territory. It is positioned above 50, outperforming selling pressure.
Furthermore, there is enough room for the price to move higher before reaching overbought levels. It is likely showing steady upward momentum while carrying lower immediate pullback risk than a high-RSI move.
Crypto Market Highlights
PI Bulls Are Regaining Control: Will It Push Past Key Barriers?
Content Writer | Crypto Enthusiast | Bridging Literature and Blockchain
Solana (SOL) continues to face downward momentum, dropping 10% over the past month and currently trading near $73. Market analysts point to a decisive breakdown below a key trendline, which has established a descending channel on daily charts and accelerated bearish pressure.
Technical indicators weigh on SOL priceThe SOL price has fallen below both the 100-day and 200-day simple moving averages, located at $78.06 and $84.71, respectively. This configuration signals persistent negative sentiment in the short term as bulls failed to reclaim the July high near $82.
Indicators also reveal deteriorating market conditions. The stochastic oscillator has entered an extreme oversold region, plunging to a reading of 3.06, while the Ultimate Oscillator currently stands at 38.8. SOL has posted a series of lower highs as selling pressure has steadily grown for several consecutive weeks.
Institutional interest remains subdued, with exchange-traded products (ETPs) tracking Solana recording modest net inflows of $14.6 million during July after $800,000 in net outflows in June. Analysts point to this muted activity as a sign of limited appetite for new exposure among institutional investors.
Historical data shows a bearish configuration, with SOL trading beneath its 100-day and 200-day moving averages and stochastic oscillator levels deep in oversold territory. These technical factors contribute to ongoing seller dominance and keep downside risks in play.
Blockchain metrics reveal a recent crossover between the 30-day and 50-day moving averages for daily active users, a technical event that in previous cycles has often foreshadowed strong price movements.
On-chain activity and fundamentals show resilienceDespite price weakness, core network activity reflects some underlying strength. July saw decentralized exchange (DEX) volumes on Solana contract by 9% to reach $51 billion, while early August trends indicate volumes could settle around $44 billion by month’s end.
Application fees on the Solana network rose from $186 million in June to $200 million in July. Current August projections suggest further growth to approximately $220 million.
Crypto analyst Nebraskangooner emphasized on X that July was a standout month for Solana fundamentals. He pointed out that Solana applications brought in $82.9 million in revenue that month, the chain’s strongest performance since February. Solana captured 16.5% of total blockchain revenue in July, overtaking Ethereum during the period. Stablecoin supply expanded to a record $15.7 billion, and the network processed over one billion non-vote transactions in a single week.
Solana applications generated $82.9 million in revenue during July, with stablecoin supply reaching $15.7 billion and the network achieving over one billion transactions in a single week.
In a broader market context, platforms such as 1stepSwap have emerged as alternatives for investors aiming to diversify. The platform integrates real-world assets (RWAs) onto the blockchain, enabling users to access shares of leading U.S. companies as well as commodities like gold and silver directly from their wallets. Its routing engine seeks the best price available at any moment, allowing investors to buy and sell major assets, including top stocks, in seconds and at competitive rates—all without relying on cumbersome intermediaries.
Market multiples and support levelsDuring 2024, SOL traded in a range between $130 and $180 despite comparable DEX volumes and app fees to those observed today. However, participants have since reevaluated valuations and reduced the premiums they are willing to pay for Solana’s network activity.
Throughout the year, Solana registered $662 billion in DEX volume and $2.55 billion in application fees at a price peak of $190. Forward estimates show 2026 DEX volumes may approach $1 trillion with $2.8 billion in fees, yet SOL currently trades below $80.
From a technical perspective, the Relative Strength Index (RSI) stands at 44, with a drop below 40 poised to trigger additional selling. The prevailing descending channel flags support at $72, followed by $70 and a range between $66 and $67. If these levels do not hold, $60 may become an important downside target.
Continued monitoring of price volatility, technical trends, and on-chain metrics remains crucial as market sentiment evolves in a period of heightened uncertainty for Solana.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key TakeawaysBitcoin: The Portfolio FoundationEthereum: The Smart Contract LeaderSolana: Speed Meets OpportunityChainlink: Bridging Blockchains and RealityHyperliquid: The Aggressive Growth OptionConstructing a Balanced Long-Term Strategy Bitcoin serves as the optimal foundation asset thanks to its limited supply and widespread institutional acceptance Ethereum dominates as the leading platform for DeFi applications and smart contract development Solana delivers exceptional transaction speed and scalability, though with elevated volatility Chainlink provides essential oracle services that bridge blockchain networks with external data sources Hyperliquid represents a high-risk opportunity centered on genuine decentralized exchange activity The cryptocurrency landscape includes thousands of digital assets, yet only a select few possess characteristics suitable for sustained investment. Financial analysts recommend concentrating on proven projects and promising newcomers that represent distinct market segments. Below, we examine five digital currencies that merit serious consideration.
Bitcoin: The Portfolio Foundation Bitcoin represents the cornerstone of any serious long-term cryptocurrency allocation.
Bitcoin (BTC) Price With its predetermined maximum supply, substantial market depth, and increasing institutional participation, Bitcoin stands among the more reliable choices in an inherently unpredictable asset category. The digital currency is progressively recognized as a modern store of value, drawing comparisons to precious metals like gold.
While Bitcoin might not produce the most explosive returns during bullish cycles, it provides superior consistency. Investment professionals typically recommend allocating approximately 40% of a cryptocurrency portfolio to Bitcoin.
Ethereum: The Smart Contract Leader Ethereum serves as the second fundamental component for long-term crypto investors.
Ethereum (ETH) Price The platform enables decentralized applications, supports major stablecoins, facilitates DeFi protocols, and hosts tokenized real-world assets. Ethereum boasts among the most robust and active developer ecosystems across all blockchain networks.
Ongoing upgrades enhance the network’s throughput and cost-efficiency. Should blockchain-based financial systems continue expanding, Ethereum appears well-positioned to maintain its central role.
Solana: Speed Meets Opportunity Solana presents itself as a high-performance competitor to Ethereum.
The network has established itself among the leading platforms for digital asset trading, payment processing, and user-facing applications. Superior transaction throughput combined with minimal fees provides significant advantages in attracting both builders and end users.
This performance comes with increased price fluctuation. Solana presents greater risk compared to Bitcoin or Ethereum, while simultaneously offering enhanced growth prospects for those investing with extended time horizons. Portfolio strategists typically recommend approximately 17.5% exposure.
Chainlink: Bridging Blockchains and Reality Chainlink offers a distinctive approach to cryptocurrency investment.
The protocol facilitates communication between blockchain networks and external information sources and systems. These oracle services form critical infrastructure enabling smart contracts to interact meaningfully with off-chain environments.
As traditional financial instruments increasingly migrate to blockchain platforms, infrastructure enabling these connections may experience heightened demand. Chainlink delivers portfolio variety beyond simply accumulating different native blockchain tokens.
Hyperliquid: The Aggressive Growth Option Hyperliquid represents the highest-risk selection among these recommendations.
The platform has established significant traction in decentralized derivatives trading, especially perpetual futures markets. Unlike numerous cryptocurrency ventures sustained primarily through marketing, Hyperliquid demonstrates substantial genuine trading volume and user engagement.
This fundamental activity distinguishes it from typical speculative altcoins. Nevertheless, it remains considerably less proven than other options discussed here, prompting experts to suggest limiting exposure to roughly 5% of total cryptocurrency holdings.
Constructing a Balanced Long-Term Strategy An effective long-term cryptocurrency portfolio need not involve excessive complexity.
One practical framework distributes capital as follows: 40% Bitcoin, 27.5% Ethereum, 17.5% Solana, 10% Chainlink, and 5% Hyperliquid. This structure provides exposure across value preservation, platform infrastructure, performance-oriented networks, and speculative growth opportunities.
Cryptocurrency markets exhibit extreme volatility. Even established projects experience severe price declines. These selections function best as long-term, risk-appropriate positions rather than assured successes.
For investors willing to maintain positions through significant market fluctuations, these five cryptocurrencies represent distinct sectors of the digital asset ecosystem while maintaining portfolio simplicity.
Ethereum price today: $1,905Ethereum whale holdings have expanded while retail balances have shrunk in 2026.BTC and XRP exhibit similar patterns, but are trading above their realized prices, unlike ETH.ETH struggles for direction in a tight EMAs range.Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026.
In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH. The distribution pattern in this cohort accelerated in early January and late April, preceding notable declines in the top altcoin.
In contrast, the 10K-100K ETH cohort has been on a buying spree, adding 5.6 million ETH between mid-2025 and Thursday. This cohort's balance rose from 14 million ETH to 19.6 million ETH during the period.
In addition, mega-whales, with a balance of 100K+ ETH, were major buyers, recording net inflows of 1.8 million ETH since mid-2025. The report noted that the cohort's balance dropped to 2.6 million ETH in mid-2025 before accelerating to 4.2 million ETH in February and then 4.6 million in May.
"Combined with the 10k–100k cohort's new highs, the largest holders are absorbing the supply that smaller wallets are releasing,” CryptoQuant wrote.
ETH Total Address Balance by Cohorts. Source: CryptoQuantThe divergence between whale and retail cohorts comes as ETH trades at $1,900, far below its realized price or average on-chain cost basis of ~$2,450. The report highlighted that "ETH bottomed in early 2025 at a similar price level and distance from its lower band realized price."
Bitcoin, XRP also see rising whale accumulationMeasuring how other top crypto assets fare in the same metrics gives insights into whether the wider market is behaving the same way.
After falling to a low of 2.87 million BTC last December, the supply of whale holdings has expanded to 3.06 million BTC, with accumulation accelerating following the top crypto's decline below $60K in June, "a textbook 'buy-the-dip' footprint from large holders." The report highlights room for growth since their holdings sit below the 2025 bull-cycle peak of 3.23 million BTC.
BTC Total Whale Holdings and Monthly % Change. Source: CryptoQuantAt the same time, Bitcoin trades about 21% above its realized price of $52.9K.
Meanwhile, XRP metrics show large holders are accumulating but at a calm pace, even as it trades ~30% above its realized price of ~$0.75.
"The accumulation by large holders across all three assets, combined with valuations approaching their realized prices, signals that the bear market is likely in its last stage. The risk-reward ratio has declined significantly since the bear market began — but valuation leaves room for one more leg lower before the floor is confirmed,” the analysts concluded.
Ethereum Price Forecast: ETH faces EMAs' test againEthereum has seen $15.14 million in liquidations over the past 24 hours, led by $8.55 million in long liquidations.
On the daily chart, ETH is retaining a mildly bullish bias as it holds above the 20-day and 50-day Exponential Moving Averages (EMAs) at $1,876 and $1,855, respectively. The top altcoin is advancing within a constructive short-term structure but remains capped by the 100-day EMA at $1,926, which forms the first significant topside barrier ahead of the horizontal resistance at $1,961.
Momentum is supportive rather than exuberant, with the 14-day Relative Strength Index (RSI) near 55 and the Stochastic Oscillator (Stoch) around 54, suggesting steady buying interest without clear overbought signals.
On the downside, initial support is seen at the 20-day and 50-day EMAs at $1,855, both reinforcing an underlying demand zone above the horizontal floor at $1,809. A daily close below this cluster would expose deeper supports at $1,701 and $1,507.
On the topside, a break above the 100-day EMA at $1,926 would open the way toward the next resistance at $1,961, with further bullish extensions targeting $2,172 and then $2,431 if buying pressure accelerates.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Canaan has authorized management to sell part of its Bitcoin and Ethereum holdings to finance share repurchases under an existing $30 million program.
Summary
Canaan’s crypto treasury was worth about $130 million as of Aug. 3. The miner held 1,915 BTC and 3,952 ETH at the end of June. Canaan had spent $2 million on buybacks as of May 19. Its Nasdaq-listed shares must regain the $1 minimum bid price by Jan. 11, 2027. Canaan opens crypto treasury to fund buybacks Nasdaq-listed Bitcoin miner Canaan has authorized management to monetize part of its digital asset treasury and use the proceeds to repurchase its American depositary shares.
The purchases will fall under an existing program that allows Canaan to buy back up to $30 million of its ADSs or Class A ordinary shares during the 12 months beginning Dec. 12, 2025, according to the company’s Aug. 4 announcement.
Canaan did not disclose how much cryptocurrency it intends to sell or when any sales will occur. The company also did not commit to using the entire remaining authorization.
Canaan did not disclose how much cryptocurrency it intends to sell or when any sales will occur. The company also did not commit to using the entire remaining authorization.
Further transactions will depend on Canaan’s share price, broader market conditions, working capital requirements, and board approval. Repurchases may take place through open-market transactions, block trades, or privately negotiated deals.
As of May 19, Canaan had spent approximately $2 million to repurchase 2.8 million ADSs. This left a nominal $28 million under the authorization at the time, although the company has not disclosed whether it completed additional purchases before the latest announcement.
Crypto holdings reached $130 million Canaan held 1,915 BTC and 3,952 ETH at the end of June. The company valued the combined portfolio at approximately $130 million using market prices from Aug. 3.
Its Bitcoin balance increased by 49 BTC in June after accounting for operating costs and BTC received as payment for mining-machine sales. Canaan mined 64 BTC during the month.
Chairman and CEO Nangeng Zhang said the company’s mining operations provide a continuing source of Bitcoin that can be used as capital.
“At current trading levels, we believe Canaan’s market value does not fully reflect the value of our digital asset holdings, cash position, and the strength of our underlying business.”
Canaan said it was trading below the combined value of its cryptocurrency holdings and the cash and cash equivalents reported at the end of March. However, the comparison does not account for the company’s liabilities or restrictions affecting parts of its treasury.
At the end of March, Canaan held $43.5 million in cash. It also reported that 905 BTC had been pledged against secured term loans, while another 100 BTC had been transferred to a fixed-term product.
Mining efficiency improves as capacity stays idle The decision follows improvements in Canaan’s North American mining efficiency despite underused capacity.
Canaan achieved fleet efficiency of 17.9 joules per terahash across its North American non-joint venture operations in May. It marlet, an 11% improvement from the previous year and a roughly 4% gain from the 18.7 J/TH recorded in March and April.
Operating activity nevertheless remained below installed capacity. At the end of May, Canaan had 10.05 exahashes per second of installed non-joint venture capacity, while only 6.47 EH/s was operating after a hosting agreement expired.
By June, non-joint venture operating hashrate had fallen further to 3.36 EH/s. Joint venture operations recovered to 4.09 EH/s following wildfire-related disruption at facilities in West Texas.
Nasdaq compliance remains a risk Canaan’s ADSs were trading near $0.19 on Aug. 6, well below Nasdaq’s $1 minimum bid-price requirement. Each ADS represents 15 Class A ordinary shares.
Nasdaq granted the company an additional 180 days, until Jan. 11, 2027, to regain compliance. Canaan must maintain a closing bid price of at least $1 for a minimum of ten consecutive business days.
The company has not directly linked the buyback decision to its listing deficiency. Still, repurchases could reduce the number of outstanding shares and offer price support, while selling cryptocurrency would lower the reserves available for mining operations, debt obligations, and working capital.
Ethereum’s [ETH] derivatives markets are becoming increasingly leveraged as traders rely much more on borrowed exposure compared to using spot capital.
The Estimated Leverage Ratio (ELR) at Binance has reached a record high of 0.65, up sharply from the 0.20–0.30 range seen during the 2022 bear market. The increase reflects steadily expanding Open Interest (OI), even as Binance’s ETH reserves continue to shrink.
Source: CryptoQuant Meanwhile, Funding Rates remain close to neutral, which means leverage is building, but there is no clear bullish or bearish bias. This leaves positions becoming crowded rather than directional. As a result, small price movements can trigger liquidation cascades that are larger than normal.
Market volatility therefore appears to increase until leverage positions unwind or spot reserves recover, and a healthier balance is restored between activity with derivatives and underlying collateral.
Institutional staking reinforces conviction While leverage continues to magnify short-term volatility, institutional investors are committing capital with much longer investment horizons. Recently, Purpose Investments staked 42,000 ETH, worth roughly $80 million, into the Beacon Deposit Contract over three hours.
Source: Arkham The allocation represents 36.6% of the firm’s 114,900 ETH holdings, reducing liquid supply while strengthening network security. Unlike leveraged derivatives, staked ETH reflects capital locked for long-term participation rather than short-term speculation.
That distinction adds important context to the current structure of the market for Ethereum. Derivative positioning remains crowded, but staking by institutions continues to grow alongside this.
This contrast shows strong long-term conviction, even as leveraged trading increases the chance of higher short-term price volatility.
Ethereum Foundation reinforces long-term conviction Meanwhile, long-term conviction also remains evident in Ethereum Foundation activity despite heightened derivatives risk. The Foundation transferred 578.38 ETH, worth about $1.08 million, to a new Gnosis Safe Proxy wallet after depositing just 2.675 ETH worth about $5,000 to Kraken.
Source: Arkham The contrast between the two transfers remains clearly notable. Most of the funds remained within self-custody rather than moving toward exchange liquidity. That pattern aligns more closely with treasury management than active distribution.
Furthermore, it also complements the recent 42,000 ETH institutional staking by Purpose Investments, reinforcing continued long-term commitment.
While leveraged positioning continues driving short-term volatility, major ecosystem participants appear focused on securing assets instead of preparing for broad market selling.
Final Summary Ethereum faces higher volatility, but institutional staking continues to reinforce long-term conviction. ETH remains supported by long-term institutional demand despite record leverage-driven market risk.
