TLDR

ETHLabs launched as a new Ethereum-focused nonprofit led by five former Ethereum Foundation researchers.
BitMine, SharpLink, and Ethereum co-founder Joseph Lubin joined the initiative as anchor funders.
ETHLabs aims to support Ethereum’s growth as a global financial settlement layer.
The organization plans to connect application developers with Ethereum’s core protocol teams.
More than 50 individuals and organizations, including Coinbase, Polygon, and Uniswap representatives, support the project.

A new Ethereum-focused nonprofit has launched with support from BitMine, SharpLink, and Ethereum co-founder Joseph Lubin. The organization, called ETHLabs, aims to accelerate Ethereum’s use as a global financial settlement layer. The launch comes as the Ethereum Foundation shifts toward a smaller role and encourages independent groups to expand research and development efforts across the ecosystem.

ETHLabs Launches With Support From Major Ethereum Backers

ETHLabs announced its formation on June 22 through a post on X. The nonprofit was founded by five former Ethereum Foundation researchers and developers. The group said it aims to help make Ethereum the settlement layer of the global economy.

The organization plans to work between application developers and Ethereum’s core protocol teams. It will focus on standards, infrastructure, and coordination. ETHLabs said it wants to connect real-world needs with technical development efforts.

Julian Ma, one of the founders, outlined the group’s direction in a public statement. Ma spent four years at the Ethereum Foundation before departing earlier this year. He said ETHLabs will support builders while improving Ethereum infrastructure.

“We are at the moment Ethereum was built for,” Ma wrote on X.

He added that Ethereum remains best positioned to serve worldwide finance. He also said the organization will expand distribution for Ethereum applications and assets.

The founding team includes Josh Rudolf, Ansgar Dietrichs, Barnabé Monnot, and Caspar Schwarz-Schilling. Each member previously worked at the Ethereum Foundation. They left the organization during recent months as part of broader personnel changes.

Former Foundation Researchers Form Independent Development Group

Several other Ethereum Foundation figures have also departed recently. Those departures include Tim Beiko, Tomasz Stańczak, John Stark, Trent Van Epps, and Hsiao-Wei Wang. ETHLabs contributor Ryan Berckmans said those exits reflected disagreements over strategy rather than confidence in Ethereum.

The ETHLabs announcement listed Beiko as a community member. However, Stańczak stated publicly that he was not involved with the initiative. Wang and Van Epps have not announced participation in the organization.

More than 50 individuals and organizations support the project. BitMine, SharpLink, and Lubin joined as anchor funders. Meanwhile, SNZ and Octant entered the initiative as contributors.

Community members include Uniswap founder Hayden Adams. Dragonfly partners Haseeb Qureshi and Tom Schmidt also joined the effort. Representatives from Coinbase, Polygon, Zksync, and other Ethereum-focused organizations are participating.

Several active Ethereum Foundation contributors are also involved. Those participants include Alex Stokes and Barnabas Busa. Their involvement reflects continued cooperation between independent groups and Foundation contributors.

Ethereum Foundation Acknowledges the New Initiative

The Ethereum Foundation publicly recognized the launch in a social media thread. The organization described ETHLabs as part of a wider trend across the ecosystem. It said multiple organizations now contribute to Ethereum’s development goals.

The Foundation stated that “realizing Ethereum’s potential takes a coalition of organizations working together.” It also said it looks forward to seeing what ETHLabs builds. The statement aligned with its recent efforts to decentralize research responsibilities.

Vitalik Buterin previously outlined the Foundation’s evolving role. He said the Foundation is “not the center of Ethereum” and functions as one participant within a broader network. According to Buterin, the organization intends to remain smaller while independent groups attract external funding and pursue development work.

TLDR

Bitmine purchased 52,203 ETH worth approximately $92 million last week.
The company’s Ethereum holdings increased to 5.67 million ETH.
Bitmine now controls about 4.7% of Ethereum’s circulating supply.
The firm said it has completed 94% of its goal to acquire 5% of the ETH supply.
Bitmine reported $601 million in cash and marketable securities.

Bitmine expanded its Ethereum holdings last week after purchasing 52,203 ETH worth about $92 million. The acquisition lifted the company’s total holdings to 5.67 million ETH, valued at nearly $10 billion. Meanwhile, Chairman Tom Lee maintained that the digital asset market remains in what he calls a “crypto spring” phase.

Bitmine Moves Closer to Ethereum Supply Target

Bitmine disclosed that the latest purchase increased its Ethereum position to 5.67 million ETH. The company said those holdings now represent about 4.7% of Ethereum’s circulating supply. At the same time, Bitmine reported $601 million in cash and marketable securities.

The latest purchase came in below the company’s previous weekly acquisitions. Even so, Bitmine continued its accumulation strategy throughout 2026. The company stated that it has completed 94% of its target to acquire 5% of Ethereum’s supply.

Tom Lee said the company remains committed to its current approach. “We continue to maintain a steady pace of accumulation throughout 2026,” Lee said.

His statement accompanied the company’s latest treasury update.

Bitmine remains one of the largest corporate holders of Ethereum. The firm’s continued purchases have steadily increased its share of the asset’s circulating supply. As a result, the company remains close to reaching its stated ownership objective.

Ethereum Staking Supports Treasury Strategy

Bitmine has also expanded funding options tied to its Ethereum strategy. Earlier this month, the company raised about $274 million through preferred stock sales. The offering included 3.5 million shares of 9.50% Series A Perpetual Preferred Stock.

The preferred shares trade on the New York Stock Exchange under the ticker BMNP. Those securities provide weekly cash dividends to shareholders. The company recently announced dividend payments scheduled through August.

Bitmine said it will pay $0.1847 per share during the announced distribution period. Meanwhile, the company continues to rely on staking income to support obligations. Lee has repeatedly pointed to staking revenue as a key source of recurring cash flow.

The company currently stakes 4.72 million ETH across its holdings. That figure represents more than 83% of the Ethereum it controls. According to company figures, staking operations generate substantial annual revenue.

Bitmine estimates annualized staking revenue at roughly $223 million. The company also projects staking rewards could reach $268 million annually through MAVAN. Those projections form part of its broader treasury strategy.

Tom Lee Maintains Crypto Spring Outlook

Lee repeated his positive view on digital asset markets despite recent price weakness. He previously linked a market recovery to Bitcoin closing May above $76,000. However, Bitcoin ended the month below $74,000 and later fell under $60,000.

Despite that decline, Lee maintained his outlook. “We believe we are in the early stages of crypto spring,” he said.

The statement accompanied Bitmine’s latest Ethereum accumulation update.

Lee also restated his long-term position on Ethereum. He said tokenization and artificial intelligence applications could support future network usage. Bitmine’s latest purchase increased its holdings by another 52,203 ETH while the company continued pursuing its 5% supply target.

TLDR:

Researchers say Ethereum users can secure accounts against quantum attacks today for as little as $0.07.
SPHINCS- verifies post-quantum signatures on-chain at ~150,000 gas using Ethereum’s native KECCAK256 opcode.
C11 and C12 variants support hardware wallet signing, tested at 390s and 47.5s on a Ledger secure element.
Future leanSPHINCS variant targets STARK aggregation, cutting per-transaction verification to 3,000 gas.

Researchers say Ethereum users could add quantum-resistant account protection for as little as $0.07, without a hard fork.

A developer known as nicocsgy published SPHINCS-, a family of EVM-optimized post-quantum signature schemes derived from SPHINCS+.

The system verifies post-quantum signatures on-chain at around 150,000 gas using only existing Ethereum infrastructure. Formal proofs via Lean 4 with Verity are included, and additional audits are in progress.

Quantum Threat to Ethereum Accounts Is Closer Than Expected

Quantum computers capable of breaking ECDSA, the signature scheme securing Ethereum and Bitcoin, are no longer a distant concern. Recent resource estimates by Babbush et al. have brought attack timelines closer than previously projected.

This makes post-quantum alternatives at the execution layer increasingly urgent for wallet holders and institutions alike. SPHINCS- addresses that gap by enabling quantum-resistant verification on Ethereum today.

The researcher shared on X: “Ethereum can already start preparing accounts for a post-quantum world, without waiting for a hard fork. Today, it would be just $0.07.”

The core technical insight came from a conversation with Vitalik Buterin. Since SPHINCS+ is built entirely from hash functions, replacing the standard SHAKE256 with Ethereum’s native KECCAK256 opcode makes on-chain verification possible.

This substitution removes any dependency on new precompiles or protocol changes. Users and organizations can therefore deploy quantum-resistant account protection right now.

Parameter tuning drove the bulk of the gas optimization work. Extensive modeling under EIP-7623 and EIP-7976 floor pricing revealed that the Winternitz parameter w=8 produces the lowest real verification cost.

Short hash chains with more iterations proved cheaper than fewer but longer chains. That finding overturned assumptions from earlier calldata-only models.

Four Variants Cover Hardware Wallets to FIPS-Compliant Deployments

Researchers produced four main variants, each targeting a different signer profile and security requirement. The C13 variant uses WOTS+C and FORS+C compression, verifying at 127,000 gas with a 3,704-byte signature.

It suits laptop-class signers and requires around 4.3 million hash calls per signature. Organizations pursuing FIPS compliance can instead use SLH-DSA-SHA2-128-24, a standardized-style alternative.

C11 and C12 were tested on a Ledger Nano S+ ST33K1M5 secure element to assess hardware wallet viability. Signing times came in at 390 seconds and 47.5 seconds respectively, making hardware deployment realistic.

Both variants carry a reduced per-key signature budget compared to the NIST standard’s 2^64 limit. However, on-chain data shows the average active Ethereum address sends roughly 431 transactions per year, making smaller budgets sufficient.

The SLH-DSA Keccak twin cuts on-chain verification costs by around 34% against its FIPS-aligned counterpart. It trades bit-exact NIST compliance for meaningfully cheaper gas, which suits blockchain-native deployments.

Verifier contracts for all variants are publicly available on GitHub for audit and deployment. NIST is also developing smaller SLH-DSA parameter sets with a 2^24 signature budget, narrowing the gap further.

Future research targets ZK-friendly hash functions under the working name “leanSPHINCS.” That variant would support STARK-based aggregation, dropping verification to around 3,000 gas per transaction at the protocol level.

A companion post on JARDIN, expected soon, aims to cut hardware wallet signing time to three seconds. Together, these efforts position hash-based post-quantum signatures as a practical near-term path for Ethereum account security.

 

TLDR:

Hsiao-Wei Wang resigns as Ethereum Foundation co-executive director, effective Thursday this week.
Both co-executive director roles are now vacant after Tomasz Stańczak’s earlier departure.
At least eight senior Ethereum Foundation members have exited the organization in five months.
Board member Bastian Aue takes on interim executive director duties amid governance scrutiny.

Hsiao-Wei Wang has stepped down as co-executive director and board member of the Ethereum Foundation, effective Thursday, becoming the latest senior figure to exit the nonprofit.

Her departure leaves both co-executive director seats vacant and places renewed focus on the organization’s leadership pipeline during a period of intense scrutiny.

Another Senior Exit Rattles the Foundation

Wang’s resignation follows closely behind that of fellow co-executive director Tomasz Stańczak, who stepped back after helping manage a leadership transition at the Switzerland-based organization.

With Stańczak already gone, Wang’s exit means the foundation has lost both individuals who had jointly held its top executive role.

Board member Bastian Aue has stepped into a larger leadership position as a result. Aue had already begun overseeing parts of the transition during Wang’s recent sabbatical, positioning him to take on interim executive director responsibilities now that both co-executive directors have departed.

Wang’s exit is not an isolated event. At least eight senior members have left the Ethereum Foundation within the past five months, a pattern that has drawn growing attention from developers and community members tracking the organization’s direction.

The repeated departures have fueled scrutiny over governance practices, spending decisions, and long-term strategic planning at the foundation.

This comes as Ethereum contends with intensifying competition from rival blockchain networks vying for developers, capital, and active users.

Wang and Buterin Address the Transition

Wang explained that her decision followed a sabbatical period that allowed her to reassess her priorities within the organization.

She took on the co-executive director position last year alongside Stańczak, describing the stretch as a demanding one for the foundation.

In her resignation statement, Wang said she had reached a clear conclusion after stepping away. “I’ve come to feel that this is the right moment for me to step back,” she wrote, signaling a personal rather than contentious departure.

Ethereum co-founder Vitalik Buterin responded by recognizing Wang’s decade-long contributions to the ecosystem.

He specifically highlighted her role in organizing the network’s research efforts and shaping its consensus-building processes over the years.

Buterin also credited Wang with helping build an active developer community in Taipei, an effort that expanded Ethereum’s reach beyond its more established hubs.

Wang closed her statement by describing Ethereum as resting on more than any single contributor. The network “has always been bigger than any one role, any one organization, or any one moment,” she wrote.

The foundation must now fill two co-executive director vacancies while managing continued community attention. Aue’s interim leadership will likely remain under close watch as the organization works toward longer-term stability.

TLDR:

Ethereum co-founder Joseph Lubin predicts massive agentic activity on-chain before year-end. 
MetaMask’s delegation-based agent wallet limits AI to strict user-defined policies and boundaries. 
The s402 protocol enables autonomous machine-to-machine payments without requiring human approval. 
ERC 8004 introduces on-chain agent registration and reputation tracking for accountable AI activity.

AI agents on-chain are approaching a turning point, according to Ethereum co-founder Joseph Lubin. Lubin has projected that agentic activity on blockchain networks will surge before year-end, framing the development as a structural shift rather than a trend.

His remarks come as developers race to build the infrastructure needed to support machine-driven transactions, automated wallets, and agent-to-agent payment systems across decentralized networks.

Lubin Points to Trust as the Central Barrier

Joseph Lubin has identified trust as the primary obstacle slowing AI agent adoption on-chain. Users remain hesitant to delegate tasks like portfolio rebalancing or programmatic trading to automated systems.

The fear centers on AI models producing convincing but inaccurate outputs, especially when users cannot verify the results themselves.

Lubin’s framing puts the problem in practical terms. Current AI models are stochastic by nature, meaning their outputs carry inherent uncertainty.

That unpredictability becomes a serious risk when the task involves moving real funds across a decentralized network with no intermediary to catch errors.

To address this, developers have introduced the MetaMask agent wallet, built on a delegation framework. The wallet allows AI agents to operate exclusively within boundaries set by the user. An agent cannot act outside those defined allowances, regardless of what the model concludes on its own.

This design reflects Lubin’s broader argument that human-defined policies must anchor machine behavior. Without that structure, agentic activity on-chain cannot scale beyond early adopters willing to absorb the risk of unreliable automation.

New Infrastructure Prepares the Ground for Lubin’s Prediction

Supporting Lubin’s year-end projection is a wave of protocol development targeting machine-to-machine interaction.

Lubin stated, “By the end of the year, I think we’ll see a huge amount of agentic activity on-chain,” pointing to emerging tooling as the catalyst.

The s402 protocol is built specifically for efficient payments between autonomous agents, removing the need for human approval at each transaction step.

ERC 8004 introduces on-chain agent registration and reputation tracking. Before engaging with an AI agent, other participants can review its verified history and identity. This creates a layer of accountability that has been absent from most agentic deployments to date.

Traditional finance is also accelerating its move onto the blockchain. Regulatory shifts and demand for continuous market access are pushing institutions toward new settlement infrastructure and institutional-grade wallets.

That migration adds depth and credibility to the environment where AI agents are expected to operate.

Lubin has described the emerging economy as a hybrid between human and machine intelligence, guided by human values.

As s402, ERC 8004, and policy-bound wallets mature together, the conditions he outlined for a surge in agentic activity are taking shape. His prediction increasingly reads less like a forecast and more like a timeline already in motion.

TLDR

Hsiao-Wei Wang resigned as co-executive director of the Ethereum Foundation with immediate effect.
Wang said a recent sabbatical helped her reflect on her priorities and plans.
Her departure follows the planned exit of co-executive director Tomasz Stańczak.
Ethereum Foundation board member Bastian Aue has taken on a larger leadership role during the transition.
At least eight senior figures have left the Ethereum Foundation over the past five months.

The Ethereum Foundation has lost another senior leader after co-executive director Hsiao-Wei Wang stepped down. Wang announced her resignation on Thursday and said the decision took effect immediately. Her departure comes during a leadership transition at the organization.

Ethereum Foundation Faces Another Leadership Departure

Wang shared her resignation in a post on X after returning from a recent sabbatical. She said the break gave her time to reassess her priorities and plans.

After reflecting on her next steps, Wang decided to leave the position. She wrote, “I’ve come to feel that this is the right moment for me to step back.”

The leadership change follows an earlier departure from the organization. Co-executive director Tomasz Stańczak had already announced plans to leave the role.

Stańczak said he would remain long enough to help guide the transition process. His planned exit formed part of a broader leadership restructuring effort.

During Wang’s sabbatical, board member Bastian Aue helped manage leadership responsibilities. He worked alongside other members during the transition period.

Aue has now assumed a larger role within the organization. He continues supporting operations following the departures of both co-executive directors.

Leadership Transition Continues Following Recent Exits

The Ethereum Foundation has experienced several personnel changes in recent months. Multiple senior figures have left the organization during the past five months.

Reports indicate that at least eight senior members have departed. Those exits have drawn attention to leadership and organizational matters.

The foundation continues operating while leadership responsibilities shift internally. Current board members and executives are overseeing the transition process.

Wang used her statement to reflect on Ethereum’s development journey. She highlighted the collective efforts behind the network’s growth.

She said Ethereum’s progress came from contributions across many teams and individuals. Her comments focused on the broader community supporting the ecosystem.

Wang also stressed that the network extends beyond any single position. She wrote, “Ethereum has always been bigger than any one role, any one organization, or any one moment.”

The statement marked the end of her tenure at the foundation. However, she did not announce a new role or future position.

Wang Cites Reflection and Personal Priorities

Wang said her sabbatical provided time for personal reflection. As a result, she reassessed how she wanted to spend her time going forward.

Her decision followed discussions about future priorities and commitments. She then informed the community of her departure through X. The Ethereum Foundation has not announced a replacement for Wang. The organization has not named a new co-executive director.

TLDR

Arthur Hayes-linked wallet purchased 1,400 ETH worth approximately $2.5 million.
The ETH purchase followed criticism over Hayes’ recent sales of HYPE, ZEC, NEAR, and WLD.
ZEC fell more than 50% after Hayes’ sale became public before later recovering above $500.
Whale wallet geministar.eth acquired $20 million in ETH, bringing two-day purchases to 32,278 ETH.
Tom Lee-led Bitmine added another 20,000 ETH worth nearly $36 million through FalconX.

Arthur Hayes has returned to buying Ethereum after facing criticism for selling several tokens he had previously supported. On-chain data shows a wallet linked to the Maelstrom Fund executive acquired 1,400 ETH worth about $2.5 million. Meanwhile, other large investors and companies also expanded their Ethereum holdings during the latest buying activity.

Arthur Hayes Returns to Ethereum After Recent Token Sales

Lookonchain reported that a wallet connected to Arthur Hayes purchased 1,400 ETH earlier today. The transaction carried an estimated value of $2.5 million.

However, the purchase triggered mixed reactions across social media platforms. Several users questioned whether Hayes would keep the position for long.

Some commenters referred to Hayes as a market manipulator because of his recent trading activity. Others pointed to his previous token sales that attracted widespread attention.

Hayes recently exited his entire ZEC position after developers disclosed and patched a vulnerability within the Zcash protocol. The sale came shortly after the issue became public.

He also reduced holdings in assets such as NEAR, HYPE, and WLD during recent market volatility. Those transactions followed earlier public comments about the projects.

After some of those sales became known, the affected assets recorded sharp price declines. ZEC experienced the steepest move among the tokens involved.

The privacy coin dropped more than 50% within 24 hours after the sale disclosure. Since then, the asset has recovered much of the lost ground.

Market data shows ZEC climbed from below $300 to above $500 during the rebound. The recovery restored a large portion of its earlier losses.

Whale Wallets and Bitmine Expand Ethereum Positions

Ethereum accumulation extended beyond Hayes and his associated wallet. Lookonchain reported fresh purchases from other large holders.

A wallet operating under the name geministar.eth bought another $20 million worth of Ethereum. The purchase increased its recent accumulation pace.

According to the data, the wallet acquired 32,278 ETH during the last two days. Those purchases carried a combined value of roughly $57 million.

The buying activity reflects continued interest from large Ethereum holders. Several transactions appeared within a short timeframe.

Meanwhile, Tom Lee-led Bitmine continued adding to its Ethereum treasury. The company regularly publishes updates regarding its ETH holdings.

Bitmine announced a $135 million Ethereum purchase on June 15. The company disclosed the transaction through its scheduled weekly update.

New data from Lookonchain showed Bitmine acquired another 20,000 ETH through FalconX. The latest purchase cost nearly $36 million.

Bitmine has repeatedly stated its long-term Ethereum objective. The company aims to hold 5% of Ethereum’s total circulating supply.

Lookonchain published the latest accumulation figures as Ethereum buying activity continued across multiple large wallets. The reported purchases included Hayes-linked accounts, geministar.eth, and Bitmine’s growing treasury position.

TLDR:

Arthur Hayes received 3,000 ETH worth about $5.42 million through a Flowdesk OTC transaction.
On-chain records linked the transfer to a wallet previously associated with the BitMEX co-founder.
The OTC structure reduced order book impact and avoided visible exchange-based buying pressure.
Ethereum’s recent price strength has increased attention on large wallet accumulation activity.

Arthur Hayes has added 3,000 ETH to a wallet linked to him, according to newly surfaced on-chain data. The transaction carried an estimated value of $5.42 million at the time of transfer. 

Data shows the Ethereum was routed through Flowdesk’s over-the-counter trading desk rather than a public exchange. The move arrives as ETH records a strong daily gain and renewed activity across crypto trading markets.

Arthur Hayes ETH Purchase Emerges Through Flowdesk OTC Transfer

Blockchain tracking data shared by Hupzy and sourced from Lookonchain showed a wallet associated with the BitMEX co-founder receiving 3,000 ETH.

The transfer occurred roughly one hour before the transaction was highlighted on social media. On-chain records indicate the assets were delivered through Flowdesk’s OTC infrastructure.

Unlike exchange-based purchases, OTC transactions allow large buyers to acquire assets without placing sizable orders on public order books.

That approach can help reduce market impact during execution. It also limits visible buying pressure that often accompanies large spot purchases.

The wallet identified in the transaction has been linked to Hayes through previous blockchain activity. The transfer therefore attracted attention across crypto trading communities.

According to the data shared by Hupzy, the transaction was valued at approximately $5.42 million based on prevailing Ethereum prices.

The purchase follows a period of heightened volatility for ETH, which posted a double-digit gain over the previous 24 hours.

Hayes has previously made large directional Ethereum bets, making his wallet activity closely watched by market participants.

Ethereum Trading Activity Picks Up as ETH Gains Momentum

The OTC route used for the transaction stood out because it avoided immediate interaction with exchange liquidity.

Market participants often use OTC desks when executing large orders that could otherwise create price slippage.

Hupzy noted that the Flowdesk transaction structure reduced the likelihood of moving the market during execution.

Because the trade occurred away from public order books, no additional spot selling pressure emerged from the transaction itself.

Ethereum continued trading above recent consolidation levels following the transfer. Recent market action placed attention on the $2,450 to $2,500 range identified in the shared market commentary.

While the transaction represents a notable purchase, the data reflects activity from a single wallet rather than a broader market trend.

Lookonchain’s tracking data and Arkham-linked wallet records remain the primary sources confirming the transfer.

The development adds another closely watched Ethereum transaction to a market already seeing increased trading activity and renewed attention toward large on-chain movements.

TLDR

Bitmine acquired 76,881 ETH worth about $136 million, increasing its Ethereum treasury to 5.62 million ETH.
The purchase followed Bitmine’s successful $274 million preferred stock offering used to support treasury growth.
Bitmine reported total crypto, cash, and investment holdings valued at approximately $10.4 billion.
The company also held 204 bitcoin and $502 million in cash and marketable securities.
Bitmine’s 9.50% Series A Perpetual Preferred Stock will trade on the NYSE under the ticker BMNP.
The preferred shares offer a 9.5% annualized dividend and will pay investors weekly cash distributions.

Bitmine Immersion Technologies expanded its Ethereum holdings after completing a $274 million preferred stock offering. The company purchased 76,881 ETH during the past week, valued at about $136 million. As a result, Bitmine increased its treasury holdings to 5.62 million ETH.

Bitmine Expands Ethereum Treasury After New Capital Raise

The latest acquisition followed Bitmine’s preferred stock sale, which raised fresh capital for treasury growth. The company bought 76,881 ETH over seven days and continued its accumulation strategy. The purchase lifted Bitmine’s Ethereum holdings to 5.62 million ETH.

The weekly purchase trailed the previous week’s 126,971 ETH acquisition. However, the transaction showed that the company continues adding ether to its balance sheet. The company had previously discussed slowing purchases as it approached ownership of 5% of Ethereum’s supply.

Bitmine also reported holdings beyond Ethereum. The company held 204 Bitcoin alongside $502 million in cash and marketable securities. It also maintained investments in Beast Industries and Eightco Holdings.

Those assets brought total crypto, cash, and investment holdings to $10.4 billion. The latest figures reflected the company’s broad treasury position. Bitmine disclosed the updated numbers after completing the recent purchase.

Thomas Lee, chairman of Bitmine, addressed the company’s buying activity.

He said, “We are maintaining a somewhat elevated pace of buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals.” The statement accompanied the treasury update.

Preferred Stock Begins Trading on NYSE

Bitmine completed a $274 million preferred equity offering before the latest ether purchase. The financing introduced a new capital source for treasury expansion. The company structured the security with a 9.5% annualized dividend.

The 9.50% Series A Perpetual Preferred Stock will trade on the New York Stock Exchange. The security will trade under the ticker BMNP. Shareholders will receive weekly cash dividend payments.

The financing approach resembles methods used by Bitcoin treasury companies. Those firms often issue preferred securities and other income-producing instruments. They then use the proceeds to acquire additional digital assets.

Questions recently emerged around dividend funding models used by crypto treasury firms. Lee said Bitmine’s Ethereum staking revenue provides support for its dividend obligations. He pointed to recurring cash flow generated through staking activities.

Lee described the preferred stock as a balance sheet diversification tool. He stated, “The company’s current projected annualized staking rewards of approximately $219 million provide recurring cash flow to support the dividends related to the Series A Preferred shares.” The preferred shares begin trading on Tuesday under the BMNP ticker.

TLDR:

Ethereum trades near $1,685 as analysts identify a potential long-term accumulation zone for investors.
Total staked ETH climbed to 39.28 million coins despite recent spot Ethereum ETF outflows.
Ethereum developers continue work on the Glamsterdam upgrade planned for Q3 2026 rollout.
ETH remains below key resistance, while support near $1,650 stays critical for price stability.

Ethereum is trading near a major support area after months of downward pressure. The asset remains below key resistance levels, yet rising staking participation and ongoing network development continue to draw attention from market participants.

Recent market data shows Ethereum trading at $1,684.76 as of writing. The asset remains in a broader downtrend, although technical indicators suggest it is approaching an area closely watched by long-term investors.

Source: Coingecko

Ethereum Price Tests Support While Staking Reaches New Highs

Ethereum has declined sharply since reaching its previous cycle peak near the $5,000 region. The weekly chart continues to show lower highs and lower lows, reflecting sustained selling pressure across the market.

Support currently sits between $1,650 and $1,700. A move below this area could expose Ethereum to further downside toward the $1,500 level. On the other hand, holding above support may allow Ethereum to stabilize in the near term.

Crypto analyst Ali Martinez recently shared his view on X, stating that Ethereum is entering what he considers one of the strongest long-term accumulation zones. His post focused on current price levels and broader market positioning as Ethereum trades near major support.

Technical indicators remain mixed. The Relative Strength Index stands at 31.67, placing Ethereum close to oversold territory.

At the same time, the MACD has turned negative again after a brief recovery attempt, suggesting bearish momentum remains present.

Trading activity also remains elevated. Weekly volume reached 169.383 billion, showing that market participants continue to actively reposition as Ethereum searches for stability.

Ethereum Development Roadmap Remains Active

While price action remains under pressure, Ethereum’s network activity continues to expand. Data shows total staked Ethereum has climbed to 39.28 million coins.

The increase comes as many holders choose to earn staking rewards while waiting for market conditions to improve.

Source: ValidatorQueue.com 

The growth in staking arrives despite recent outflows from United States spot Ethereum exchange-traded funds. During the week, ETF products recorded $40.85 million in net outflows, yet staking participation continued to move higher.

Ethereum developers are also preparing the upcoming Glamsterdam upgrade, expected during the third quarter of 2026. The update is designed to improve base-layer scaling and reduce execution costs across the network.

At the same time, discussions around Ethereum’s future direction continue. Ethereum co-founder Vitalik Buterin recently outlined a framework that places greater attention on privacy, censorship resistance, and security within the ecosystem.

Developers are also evaluating a proposed pERC-20 privacy token standard. The proposal would allow users to transfer assets without publicly revealing transaction amounts or account balances.

For now, Ethereum remains below major resistance levels between $2,000 and $2,500. Market participants continue to monitor whether Ethereum can defend current support while network growth and development efforts progress.

A recovery above key resistance areas would improve the technical outlook for Ethereum. Until then, Ethereum remains focused on holding support as investors assess both market conditions and long-term network growth.