Coin overview
You have enabled the futures cooling-off period (ends at ).
EIGEN
Ended--
Last price (USDT)
171.76K
24h total (USDT)
739.77K
Total vol (USDT)
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
Trading time (UTC+0)
2024-10-01 09:00:00
Delivery time (UTC+0)
Total supply1.74B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active Verification Service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, while a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
Ethereum's Undervalued Treasury Play: Why ETH and DAT Companies Offer a Stronger Case Than Bitcoin
The cryptocurrency market in 2025 is witnessing a seismic shift in institutional capital allocation, with Ethereum (ETH) emerging as a compelling alternative to Bitcoin (BTC) for treasuries and yield-generating strategies. Standard Chartered's bold $7,500 ETH price target for year-end 2025 reflects a confluence of factors that position Ethereum-based digital asset treasuries (DATs) as a superior investment vehicle compared to Bitcoin counterparts. This article unpacks the institutional accumulation, staking yield advantages, and valuation dislocation driving Ethereum's outperformance—and why investors should prioritize ETH and DATs over Bitcoin in the current cycle. Institutional Accumulation: A Supply Squeeze in Motion Ethereum's institutional adoption has accelerated at an unprecedented pace, with corporate treasuries, ETFs, and hedge funds aggressively accumulating ETH. By July 2025, institutional entities held 4.1 million ETH ($17.6 billion), a 3.8% increase in circulating supply since early 2025. This surge is fueled by Ethereum's unique ability to generate 4.5–5.2% staking yields, a feature absent in Bitcoin's treasury model. The ETF landscape further amplifies this trend. U.S.-listed Ethereum ETFs have attracted $23 billion in assets under management by Q3 2025, with BlackRock's ETHA ETF alone drawing $2.2 billion in three days in August 2025. This outpaces Bitcoin ETF inflows, signaling a strategic reallocation of capital toward Ethereum's utility-driven ecosystem. The ETH/BTC ratio, a key institutional sentiment indicator, hit a 14-month high of 0.71 in 2025, reflecting Ethereum's growing preference. This shift is underpinned by Ethereum's deflationary supply model (post-EIP-1559 and Dencun upgrades) and its role as a foundational infrastructure asset for decentralized finance (DeFi). Staking Yields: Ethereum's Competitive Edge Ethereum's staking mechanism offers a critical advantage over Bitcoin. With 29.6% of circulating ETH staked as of July 2025, institutional investors are locking up capital to secure the network while earning yields. Protocols like Lido and EigenLayer have further enhanced liquidity through staking derivatives, enabling institutions to earn returns without sacrificing capital flexibility. In contrast, Bitcoin's treasury model lacks yield generation, making it a passive store of value. Ethereum's 3–5% staking yields create a flywheel effect: higher demand for ETH drives up prices, which in turn increases staking rewards in dollar terms. This dynamic is particularly attractive in a low-interest-rate environment, where traditional fixed-income assets struggle to compete. Moreover, DAT companies like SharpLink Gaming and BitMine have introduced automatic buyback mechanisms to protect against valuation erosion. For instance, SharpLink triggers buybacks when its net asset value (NAV) dips below 1, creating a price floor and reinforcing institutional confidence. These structural advantages are absent in Bitcoin-based treasuries, where valuation risks remain unmitigated. Valuation Dislocation and Market Correction Dynamics Ethereum's valuation story is further strengthened by its deflationary supply model and on-chain demand dynamics. Exchange-held ETH has fallen to a nine-year low of 13 million, a historical precursor to price surges. The MVRV (Market Value to Realized Value) ratio of 2.0 indicates a strong accumulation phase, with no immediate selling pressure. Standard Chartered's $7,500 target hinges on Ethereum's ability to capture growth in the $2 trillion stablecoin market by 2028, driven by the GENIUS Act's regulatory clarity. With 65% of DeFi total value locked (TVL) on Ethereum, the network is poised to benefit from a surge in stablecoin activity and real-world asset tokenization. Bitcoin, meanwhile, faces valuation headwinds. Its supply is fixed at 21 million, but institutional demand is constrained by its lack of yield and utility. The ETH/BTC ratio's divergence suggests that Ethereum is being priced for growth while Bitcoin is being discounted for stagnation. Why DATs Outperform Bitcoin Treasuries Digital asset treasuries (DATs) offer a superior risk-adjusted return profile compared to Bitcoin-based alternatives. Ethereum's 4.5–5.2% staking yields generate active income, whereas Bitcoin treasuries remain yield-free. Additionally, DATs like SharpLink and BitMine have demonstrated capital preservation mechanisms (e.g., buybacks) that Bitcoin lacks. The regulatory tailwinds are equally compelling. The U.S. CLARITY and GENIUS Acts have reclassified ETH as a digital commodity, enabling SEC-compliant staking and reducing compliance friction for institutions. This clarity has attracted major banks like Goldman Sachs and JPMorgan Chase into the Ethereum ecosystem, further validating its institutional-grade status. Investment Thesis and Strategic Recommendations Ethereum's institutional bull case is not speculative—it is a calculated reallocation of capital toward a platform offering yield, utility, and infrastructure-grade value. With 30–40% of Ethereum's supply under institutional control and ongoing inflows from ETFs and corporate treasuries, the asset is entering a self-reinforcing cycle of demand and price appreciation. Investors should consider Ethereum ETFs (e.g., ETHA, ETHE) and DAT companies (e.g., SharpLink, BitMine) for exposure. These vehicles combine the upside of Ethereum's price action with the income generation and capital preservation features that Bitcoin cannot match. In conclusion, Ethereum's undervalued treasury play is a product of its structural advantages, regulatory tailwinds, and institutional adoption momentum. As the market corrects for Bitcoin's limitations and Ethereum's potential, the $7,500 target becomes increasingly attainable—and the window to capitalize on this dislocation is narrowing.
The Institutional Shift: Why Ethereum ETFs Are Outperforming Bitcoin in 2025
The institutional capital landscape in 2025 has witnessed a seismic shift, with Ethereum ETFs outpacing Bitcoin counterparts in inflows, assets under management (AUM), and strategic adoption. This divergence is not a fleeting market anomaly but a structural reallocation driven by Ethereum's yield-generating capabilities, regulatory clarity, and corporate treasury integration. For investors, understanding this shift is critical to navigating the evolving crypto-asset ecosystem. Yield Generation: Ethereum's Structural Edge Ethereum's transition to a proof-of-stake (PoS) model in 2022 laid the groundwork for its dominance in 2025. By Q2 2025, Ethereum staking yields averaged 4–6%, a compelling return in a high-interest-rate environment. These yields, facilitated by protocols like Lido Finance and EigenLayer, enable institutional investors to generate passive income while securing the network. In contrast, Bitcoin's proof-of-work (PoW) model offers no direct yield mechanism, leaving it as a “hold and hope” asset. The implications are profound. Institutional portfolios now prioritize Ethereum ETFs as a dual-purpose tool: capital appreciation and income generation. For example, BlackRock's ETHA ETF attracted $323 million in a single day in August 2025, leveraging staking yields to outperform Bitcoin's IBIT, which saw just $45.34 million in inflows. This trend reflects a broader shift toward assets that align with traditional portfolio construction principles—diversification, yield, and risk-adjusted returns. Regulatory Clarity: A Tailwind for Ethereum The U.S. Securities and Exchange Commission (SEC)'s reclassification of Ethereum as a utility token under the CLARITY and GENIUS Acts in early 2025 removed a critical barrier to institutional adoption. This legal framework enabled the launch of in-kind creation/redemption mechanisms for Ethereum ETFs, reducing issuance costs and enhancing liquidity. By July 2025, Ethereum ETFs had attracted $28.5 billion in inflows, while Bitcoin ETFs faced $548 million in outflows. Regulatory clarity also unlocked innovation. Staking derivatives and liquid staking tokens (e.g., stETH) became viable investment vehicles, allowing institutions to access Ethereum's yield without sacrificing liquidity. Meanwhile, Bitcoin's uncertain legal status—still debated as a commodity or security—has constrained its institutional appeal. The absence of a clear regulatory path for Bitcoin staking further widens the gap. Corporate Treasury Adoption: A Flywheel of Demand Ethereum's growing adoption by corporate treasuries has created a self-reinforcing cycle of demand. Over 6.5 million ETH is now held by institutional investors, with 4.3 million ETH controlled by corporate treasuries. Companies like BitMine Immersion Technologies and SharpLink Gaming have aggressively accumulated Ethereum, staking a significant portion to generate yields. This trend reduces the circulating supply of ETH, exerting upward pressure on price while signaling confidence in Ethereum's long-term utility. Bitcoin, by contrast, remains a store-of-value asset for corporate treasuries but lacks the active income generation that Ethereum offers. While Bitcoin holdings have reached $414 billion as of August 2025, the absence of staking participation limits its role in capital-efficient portfolios. Long-Term Implications for Portfolios and Markets The institutional shift toward Ethereum ETFs has three key implications: 1. Portfolio Rebalancing: Investors should consider Ethereum ETFs as a core component of digital-asset allocations, particularly in low-yield environments. The 60/30/10 institutional allocation model (60% Ethereum-based ETPs, 30% Bitcoin, 10% altcoins) reflects this reallocation. 2. Price Dynamics: Reduced circulating supply from staking and treasury holdings may drive Ethereum's price higher, but volatility risks persist. A large-scale outflow from Ethereum ETFs—similar to Grayscale's past struggles—could destabilize the market. 3. Market Structure: Ethereum's dominance in institutional capital could accelerate its role as the backbone of decentralized finance (DeFi) and real-world asset (RWA) tokenization. By Q3 2025, Ethereum's DeFi Total Value Locked (TVL) reached $223 billion, dwarfing Bitcoin's negligible utility in this space. Investment Advice: Navigating the Shift For investors, the institutional shift toward Ethereum ETFs presents both opportunities and risks. Those seeking yield and infrastructure exposure should prioritize Ethereum-based products, particularly those with staking integration. However, diversification remains key: Bitcoin's role as a macro-hedge against inflation and geopolitical uncertainty should not be ignored. The regulatory environment will remain a wildcard. While Ethereum's utility token status provides clarity, future SEC actions could alter the landscape. Investors should monitor developments in staking integration and custody standards, which could further widen Ethereum's lead. In conclusion, the 2025 institutional shift reflects a fundamental redefinition of how capital interacts with blockchain-based assets. Ethereum's structural advantages—yield generation, regulatory clarity, and corporate adoption—position it as a superior institutional asset compared to Bitcoin. For investors, this is not merely a market trend but a strategic reallocation with long-term implications for portfolio construction and market dynamics.
Ethereum's V-Shaped Recovery: Institutional Whale Accumulation and ETF Inflows Signal a Bullish Turnaround
Ethereum's recent price trajectory has painted a compelling narrative of resilience and institutional confidence. After a 12% correction in late August 2025, the asset has staged a V-shaped recovery, driven by a confluence of on-chain metrics, whale activity, and regulatory tailwinds. For investors, this represents a critical inflection point where Ethereum transitions from speculative hype to a foundational infrastructure asset. On-Chain Metrics: A Structural Shift in Capital Flow Ethereum's on-chain data in Q3 2025 reveals a strategic repositioning of capital by institutional-grade whale investors. Whale wallets (10,000–100,000 ETH) now control 22% of the circulating supply, while mega whales (100,000+ ETH) have grown their holdings by 9.31% since October 2024. This accumulation is not random but methodical, mirroring traditional asset management strategies for undervalued equities. A notable example is a Bitcoin whale converting 22,769 BTC ($2.59 billion) into 472,920 ETH, signaling a deliberate pivot to Ethereum's utility-driven ecosystem. The staking infrastructure further reinforces this trend. Over 35 million ETH are now locked in staking, with 3.8% annualized yields outpacing traditional fixed-income returns. The validator exit queue swelled to 910,461 ETH ($3.7 billion) by August 19, 2025, as early stakers realized 240%+ returns. This flywheel effect—where staking rewards are reinvested via protocols like EigenLayer—has created a compounding cycle of demand and utility. Institutional Whale Activity: A Calculated Long-Term Play Whale behavior in Q3 2025 underscores a shift from speculative trading to long-term capital accumulation. Over 1.2 million ETH (~$6 billion) was withdrawn from exchanges and staked, reducing immediate sell-side pressure. BitMine Immersion Technologies, now the largest corporate Ethereum treasury holder, added 190,500 ETH in a single week, bringing its total holdings to 1.7 million ETH ($8.8 billion). This surge in institutional staking is supported by Ethereum's deflationary mechanics, with a 1.32% annualized burn rate reducing supply and increasing the value of staking rewards. The Pectra/Dencun upgrades have also amplified Ethereum's appeal. Gas fees were slashed by 90%, and throughput increased to 100,000 TPS, making it the preferred smart contract platform for DeFi and tokenized finance. With 72% of total value locked (TVL) in DeFi and 50% of stablecoin issuance tied to Ethereum, the network's utility is no longer speculative—it's structural. ETF Inflows: A New Era of Institutional Adoption Ethereum ETFs have become a cornerstone of institutional crypto portfolios. By August 2025, Ethereum ETFs attracted $27.6 billion in inflows, dwarfing Bitcoin's $548 million. BlackRock's ETHA alone recorded $233.6 million in a single day, reflecting a 90% dominance in Ethereum ETF inflows. This surge is driven by regulatory clarity: the SEC's July 2025 reclassification of Ethereum as a utility token removed legal barriers, enabling staking and ETF holdings of 36 million ETH (29% of total supply). The institutional reclassification is mirrored in on-chain behavior. Exchange-held ETH balances have hit a 9-year low of 18 million tokens, indicating that 97% of ETH is now held off-exchange by long-term holders or stakers. This shift reduces volatility and aligns Ethereum with traditional infrastructure assets like gold or real estate. Technical and Market Indicators: A Bullish Setup Ethereum's technical indicators reinforce its bullish narrative. The Network Value to Transactions (NVT) ratio is at historic lows (37), suggesting undervaluation relative to transaction volume. The MVRV Z-Score dropped to 1.43, a level historically associated with market troughs. Meanwhile, Ethereum's Gini coefficient (0.6603) reflects high wealth concentration among large holders, a sign of institutional confidence. Bitcoin's market dominance has fallen below 60%, a level historically linked to altcoin rotation. Ethereum, as the leading altcoin, is poised to benefit disproportionately. The 18-month resistance level at $4,100 was decisively broken, and the Money Flow Index (MFI) at 83.10 and a bullish MACD crossover suggest strong momentum for a potential breakout above $5,000. Investment Implications: A Strategic Buy For investors, Ethereum's current trajectory presents a unique opportunity. The convergence of whale accumulation, staking participation, and ETF inflows creates a self-sustaining cycle of demand and value capture. Regulatory tailwinds, deflationary mechanics, and technological upgrades further solidify its position as a foundational asset. Key entry points include: 1. Staking Protocols: Allocate capital to liquid staking derivatives (LSDs) like stETH or EigenLayer to capture 3.8% yields. 2. ETF Exposure: Invest in Ethereum ETFs (e.g., ETHA, FETH) for regulated, institutional-grade exposure. 3. Long-Term Holdings: Accumulate ETH during price dips, leveraging its deflationary supply model and growing TVL in DeFi. Ethereum's V-shaped recovery is not a short-term bounce but a structural re-rating of its value. As institutional capital continues to reallocate from Bitcoin to Ethereum, the asset is positioned to outperform traditional equities and commodities in the next bull phase. For investors with a 12–18 month horizon, Ethereum represents a high-conviction, high-reward opportunity in the evolving crypto landscape. In conclusion, Ethereum's on-chain analytics and institutional sentiment paint a clear picture: this is not just a recovery—it's a new era of institutional adoption and utility-driven growth. The next leg higher is not a question of if, but when.
Cap Labs attracts capital with EigenLayer-backed credit model
Cap Labs’ new stablecoin cUSD has seen rapid adoption since launch, climbing to $67.85 million in circulation over the past week, according to DefiLlama. Etherscan shows 2,735 holders of the token to date. The jump signals strong demand for Cap’s yield-layered digital dollar model, which combines regulated reserve assets with EigenLayer-powered credit underwriting. Built atop the newly launched Cap Stablecoin Network (CSN), cUSD is designed as a 1:1 redeemable stablecoin backed by assets like PayPal’s PYUSD , BlackRock -managed BUIDL , and Franklin Templeton’s BENJI. The yield-bearing version stcUSD — minted by staking cUSD — is enabled by a three-party system of lenders, operators, and restakers. Cap’s core innovation lies in its structure: operators borrow stablecoins to deploy yield strategies, restakers underwrite the operator’s credit risk, and lenders (stcUSD holders) earn a floating yield, currently around 12%, depending on market demand and operator performance. While restaker collateral provides protection against operator default, stcUSD holders are still exposed to fluctuating yield dynamics. cUSD’s impressive growth; Source: DefiLlama Unlike many past stablecoin launches, Cap’s model is carefully tuned to comply with the GENIUS Act , the sweeping US stablecoin legislation that prohibits interest-bearing payment tokens. Speaking at the Stablecoin Summit in Cannes in June , Cap Labs founder Benjamin Lens was blunt: “They said no yield, and it’s pretty clear — there’s no way around it. They do not want stablecoins giving yield to retail investors,” Lens said. Thus, stcUSD is a separate ERC-4626 vault token, which users can mint by staking cUSD. The yield is generated through a marketplace of borrowing and restaking, not directly from Cap Labs. “Genius Act covers companies that are generating yield on behalf of users and giving them to the users,” Lens said in Cannes, whereas Cap is “an immutable open protocol like Ethereum , like Bitcoin.” Combined with the fact that the percentage of any one stablecoin backing cUSD is limited to 40%, Lens thinks they have a compliant mechanism. “This is the standard that we’ve agreed to with Templeton and BlackRock for our integration with them,” Lens told Blockworks, noting it’s the same arrangement that UStB (from Ethena) made in partnership with BlackRock. Restaking evolution Cap’s design aligns with a trend emerging on EigenLayer : the financialization of Actively Validated Services (AVSs). Traditionally, AVSs on EigenLayer offered infrastructure services — like oracles or bridges — with risk limited to uptime or correctness. But a new wave of AVSs is using EigenLayer to underwrite financial guarantees. Cap is one example highlighted by EigenLayer founder Sreeram Kannan. “A staker can stake and promise that an operator [like Susquehanna] is going to make a 10% APR,” Kannan told Blockworks. “You can underwrite financial risk using EigenLayer, which is a very new kind of risk, which requires much, much more active curation and monitoring,” he said. What makes this possible is EigenLayer’s recent rollout of a new feature, complementary to slashing, which went live in April . While slashing enables restakers to be penalized for backing underperforming operators, redistribution , launched in late July, allows slashed funds to be redirected back to the impacted AVS — such as Cap’s lending vault — rather than burned. That change turns EigenLayer into a programmable risk distribution layer, capable of enforcing structured finance contracts entirely onchain. “With financial AVSs, slashing is the core logic,” Kannan said. “A liquidation is an example — if the hurdle rate is not met — slash and move the money out.” That’s easier than slashing some infrastructure AVSs like a ZK or TEE coprocessor, where it’s harder to adequately express the slashing logic onchain, he added. According to a research note from Serenity Research and Catalysis published Sunday, Cap’s model resembles a CDS-like structure: Restakers sign off-chain legal agreements to cover operator defaults, post collateral onchain, and are liquidated if their guarantee fails. Cap currently lists market makers like Fasanara, GSR, and Amber as operators, with Gauntlet and Symbiotic restakers providing credit protection. Cap Labs’ operating company, which handles smart contracts, social media and frontend, is based in Panama, Lens said. “There are currently no plans to geofence the US. Since we’re functionally an autonomous, overcollateralized lending market, we’re taking a similar precedent to Aave and Morpho ,” he said. As Cap’s model gains traction, it could preview a broader shift in the restaking ecosystem: from securing infrastructure to enabling onchain credit underwriting, with slashing and redistribution forming the enforcement rails for next-gen financial AVSs. Get the news in your inbox. Explore Blockworks newsletters: The Breakdown : Decoding crypto and the markets. Daily. 0xResearch : Alpha in your inbox. Think like an analyst. Empire : Crypto news and analysis to start your day. Forward Guidance : The intersection of crypto, macro and policy. The Drop : Apps, games, memes and more. Lightspeed : All things Solana. Supply Shock : Bitcoin, bitcoin, bitcoin.
Time for a Web3 reality check: Which altcoin sectors are really delivering?
Key takeaways: Web3 daily activity held steady at 24 million in Q2 2025, but sector composition is shifting. DeFi leads transaction counts with 240 million weekly, yet Ethereum gas usage is now dominated by the RWA, DePIN and AI. Smart contract platforms’ coins and yield-generating DeFi and RWA tokens outperform the market, while AI and DePIN lag despite strong narratives. Altcoins are more than speculative bets on coins outside Bitcoin. In most cases, they represent — or aim to represent — specific activity sectors within Web3, a decentralized alternative to the legacy internet and its services. Assessing the state and potential of the altcoin market means looking beyond prices. Key indicators such as gas usage, transaction counts and unique active wallets (UAW) help gauge activity and adoption, while coin price performance reveals whether markets follow onchain trends. AI and social DApps gain adoption UAW counts distinct addresses interacting with DApps, offering a proxy for adoption breadth, though multiple wallets per user and automated activity can skew results. DappRadar’s Q2 2025 report shows steady daily wallet activity at around 24 million. Yet a shift in sector dominance is emerging. Crypto gaming remains the largest category, with over 20% market share, though down from Q1. DeFi has also slipped, falling to less than 19% from over 26%. In contrast, Social and AI-related DApps are gaining traction. Farcaster leads Social with roughly 40,000 daily UAW , while in AI, agent-based protocols like Virtuals Protocol (VIRTUAL) are standing out, attracting 1,900 weekly UAW. DApp industry dominance by UAW. Source: DappRadar DeFi attracts big players Transaction counts show how often smart contracts are triggered, but can be inflated by bots or automation. DeFi’s transaction footprint is paradoxical. Its user base has declined, yet it still generates over 240 million weekly transactions — more than any other Web3 category. Exchange-related activity (can overlap with DeFi) adds to this dominance, with crypto gaming trailing at 100 million weekly transactions and the “Other” category (excluding Social but including AI) at 57 million. DApps transaction per category. Source: DappRadar Total value locked (TVL) tells an even stronger story. According to DefiLlama , DeFi TVL has reached $137 billion — up 150% since January 2024, though still below its $177 billion peak in late 2021. The divergence between rising TVL and falling UAW reflects a key theme of this crypto cycle: institutionalization. Capital is concentrating in fewer, larger wallets, which now also include funds. This trend is still young, as DeFi faces regulatory uncertainty in many jurisdictions. Still, institutions are testing the waters by providing liquidity to permissioned pools, lending against tokenized treasuries from platforms like Ondo Finance (ONDO) and Maple (SYROP), the latter also known for its partnership with the investment bank Cantor Fitzgerald. Meanwhile, protocol-level automation offered by DeFi services like Lido (LIDO) or EigenLayer (EIGEN) further dampens wallet activity, as DeFi evolves into a capital-efficient layer geared toward large-scale yield generation rather than retail participation. Other use cases dominate gas Transaction data alone doesn’t capture the complete Web3 picture. Ethereum gas usage can show where economic and computational weight truly lies. Glassnode data reveals that DeFi, despite being Ethereum’s key sector, now accounts for just 11% of its gas consumption. NFTs, which used a sizeable share of gas back in 2022, have now fallen to 4%. The “Other” category, however, has surged to over 58% today from about 25% in 2022. This category covers emerging areas such as real-world asset tokenization (RWA), decentralized physical infrastructure ( DePIN ), AI-based DApps and other more or less novel services that may define Web3’s next growth phase. Ethereum gas usage by category. Source: Glassnode RWA, in particular, is often referred to as one of the most promising crypto sectors. Excluding stablecoins, total RWA value has surged from $15.8 billion at the start of 2024 to $25.4 billion today, with an estimated 346,250 tokenholders. Related: How high will Ethereum price go after breaking $4K? ETH analysts weigh in Do prices follow Web3 narratives? Asset prices rarely move in lockstep with onchain activity. While hype can drive short-term spikes, sustained gains tend to align with sectors delivering tangible utility and adoption. Over the past year, this has meant infrastructure and yield-focused projects outpacing narrative-driven plays. Smart contract platform coins posted the strongest gains, with the top 10 up an unweighted 142% on average, led by HBAR (+360%) and XLM (+334%). As the foundational layer of Web3, their price growth signals investor confidence in the sector’s long-term development. DeFi tokens also fared well, averaging 77% YoY, with Curve DAO (CRV) up 308% and Pendle (PENDLE) up 110%. The top 10 RWA tokens gained 65% on average, driven by XDC (+237%) and OUSG (+137%). DePIN’s top performers, JasmyCoin (JASMY) at +72% and Aethir (ATH) at +39%, could not prevent the sector’s average from hovering around +10%. AI tokens have been the clear laggards: The top 10 strictly AI-focused projects are down 25% YoY, with Bittensor (TAO) the only standout at +34%. Gaming tokens mostly posted losses, with only SuperVerse (SUPER) gaining 750% in the past 12 months. Social tokens remain largely absent in the crypto space, as leading protocols still lack native assets. Overall, Web3 investment remains concentrated in mature sectors, driving up the native currencies of leading smart contract platforms. Yield-focused DeFi and RWA tokens have also delivered solid returns. In contrast, the sectors behind the most hyped narratives — AI, DePIN, and Social — have yet to translate attention into meaningful token gains. As adoption deepens and more sectors mature, the gap between narrative and performance may narrow — but for now, investor confidence is clearly rooted in the building blocks of the decentralized economy.
ETHZilla’s NASDAQ relaunch puts $419m Ethereum treasury in the spotlight
The rebranded firm, now holding 94,675 ETH, is betting big on Ethereum’s long-term value, with backing from Polychain, Founders Fund, and key DeFi founders. Summary ETHZilla debuts on NASDAQ with a $419m Ethereum treasury, rebranding from biotech firm 180 Life Sciences. Backed by Polychain, Founders Fund, and DeFi leaders, ETHZilla aims to be a major corporate ETH holder. According to a press release dated August 18, ETHZilla Corporation has officially completed its rebranding and transition from biotech firm 180 Life Sciences to a dedicated Ethereum ( ETH ) treasury vehicle. The company’s shares began trading under the new ticker “ETHZ” on the same day, marking a strategic shift toward accumulating and managing one of the largest corporate ETH holdings in public markets. “Today, we are embracing our identity as ETHZilla and our commitment to developing a market-leading strategy that seeks to bring the value of Ethereum to investors in the public markets,” McAndrew Rudisill, Executive Chairman of the Board of Directors of the Company, said. With 94,675 ETH acquired at an average price of $3,902 and now worth approximately $419 million, the move signals a growing institutional embrace of Ethereum as a treasury asset. ETHZilla’s institutional backing and pivot into Ethereum According to ETHZilla’s announcement, its treasury strategy is designed to leverage Ethereum’s dual role as both a store of value and a yield-generating asset. The company said it has partnered with Electric Capital to maximize returns through staking, DeFi lending, and liquidity provisioning, positioning the firm to benefit from Ethereum’s expanding utility beyond mere price appreciation. The pivot from biotech to Ethereum treasury management came after ETHZilla raised $565 million in private funding, with backing from over 60 institutional and crypto-native investors. The list features both a deep bench of both institutional capital and Ethereum-native builders. Polychain Capital, Electric Capital, and Peter Thiel’s Founders Fund anchor the institutional side, while key DeFi founders, including EigenLayer’s Sreeram Kannan, Lido’s Konstantin Lomashuk, and Compound’s Robert Leshner, lend credibility to the venture. Their participation suggests confidence not just in ETHZilla’s model, but in Ethereum’s long-term viability as a cornerstone of decentralized finance. While ETHZilla’s treasury strategy dominates headlines, the company hasn’t abandoned its roots entirely. The company said its legacy biotech assets remain part of the portfolio, with plans to monetize intellectual property, and its gaming division continues to operate. This diversified approach could provide stability if crypto markets turn volatile, though the firm’s future now hinges on Ethereum’s performance.
Bitget to decouple loan interest rates from futures funding rates for select coins in spot margin trading
To provide users with more flexible and efficient trading tools, Bitget has decoupled loan interest rates from futures funding rates for the following coins as of August 18, 2025 (UTC+8): ASR, CTSI, MAV, CORE, OGN, SKL, BAND, LA, NMR, BEAM, RATS, MOVR, AR, COOKIE, HOT, API3, HOME, BAT, ZRO, EIGEN Users can now perform funding rate arbitrage on these trading pairs through spot margin and futures trading by opening opposite positions (short vs. long) of equal value and leverage on the same pair, profiting from the spread between funding rates and loan interest rates. Check the arbitrage operation guide Reminder: While this arbitrage strategy is considered relatively low risk, users are strongly advised to: Use reasonable leverage Monitor the funding intervals and their upper and lower limits Be aware of liquidation risks due to rate changes or extreme market volatility Links: View futures funding rates View spot margin loan interest rates Disclaimer Cryptocurrencies are subject to high market risk and volatility despite their high growth potential. Users are strongly advised to do their research as they invest at their own risk. Thank you for supporting Bitget. Join Bitget, the World's Leading Crypto Exchange and Web3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Anonymous Whale Stakes 10,999 ETH, Sparking Institutional Interest and Potential Price Stability
An anonymous whale recently staked 10,999 ETH, earning a profit of $13.53 million, showcasing the rising institutional interest in Ethereum staking. Anonymous whale stakes 10,999 ETH, earning $13.53 million profit. ETH price rises significantly due to increased staking inflows. Growing institutional interest in Ethereum staking is evident. Discover how an anonymous whale’s staking of 10,999 ETH has led to a $13.53 million profit, reflecting the growing institutional interest in Ethereum. What Happened with the Anonymous Whale’s ETH Staking? An anonymous whale staked 10,999 ETH, valued at approximately $46.69 million, through platforms like EigenLayer and ETH2.0, resulting in a profit of $13.53 million within just two months. Why is This Significant for Ethereum? The substantial profit underscores the growing institutional adoption of Ethereum’s proof-of-stake model, enhancing capital efficiency and influencing ETH’s market price and total value locked in DeFi. The whale’s staking activity has contributed to a noticeable increase in ETH staking inflows, part of a broader trend driven by institutional and whale investors focused on network stability. Ethereum’s price surged to $4,170 due to this heightened demand. Industry analysts suggest that the rise in Ethereum’s price and staking popularity reflects a bullish sentiment in the market. Mitchell Johnson, a crypto analyst, noted, “With ETH’s price surge to $4,170, we are witnessing a significant bullish trend influenced by staking flows and institutional investments.” How Does Staking Impact Ethereum’s Market? Staking reduces the liquid supply of ETH, which can enhance price stability. Other cryptocurrencies and DeFi protocols related to staking are also seeing increased interest. EigenLayer and ETH2.0 are poised to benefit from sustained investments at the whale level. Expert analysis indicates that ongoing whale activities may contribute to reduced ETH availability in markets, promoting price stability. No official comments have been made by key industry figures regarding this specific whale activity, keeping the market’s focus on broader developments. Frequently Asked Questions What is Ethereum staking? Ethereum staking involves locking up ETH to support the network’s operations, earning rewards in return. This process enhances network security and stability. How does staking affect ETH prices? Staking reduces the available supply of ETH in the market, which can lead to increased prices as demand rises, especially during bullish market conditions. Key Takeaways Whale Activity: An anonymous whale staked 10,999 ETH, earning significant profits. Market Impact: The staking activity has positively influenced ETH’s price and market sentiment. Institutional Interest: Growing institutional engagement in Ethereum staking is evident. Conclusion The recent staking of 10,999 ETH by an anonymous whale illustrates the increasing institutional interest in Ethereum’s proof-of-stake model. This activity not only generated a profit of $13.53 million but also contributed to a bullish trend in ETH’s market price. As staking continues to gain traction, it is likely to play a crucial role in Ethereum’s future stability and growth. In Case You Missed It: Arthur Hayes' ETH Trade Reversal Sparks Market Sentiment and Potential Optimism
Altcoins Rally Across the Board, Ethereum Ecosystem Tokens Lead the Surge
BlockBeats News, August 9—According to market data from a certain exchange, as Ethereum's rally continues to gain momentum, altcoins are seeing broad-based gains, with tokens in the Ethereum ecosystem leading the market. Among them: COW is currently trading at $0.4853, up 30.75% in the past 24 hours; ENA is currently trading at $0.739, up 20.1% in the past 24 hours; RESOLV is currently trading at $0.1969, up 16.66% in the past 24 hours; TURBO is currently trading at $0.0051, up 15.7% in the past 24 hours; EIGEN is currently trading at $1.44, up 14.29% in the past 24 hours; SHELL is currently trading at $0.1815, up 14.2% in the past 24 hours; SSV is currently trading at $10.19, up 12.85% in the past 24 hours; COMP is currently trading at $53.94, up 11.72% in the past 24 hours; ETHFI is currently trading at $1.237, up 11.71% in the past 24 hours.
Caldera has announced a partnership with EigenCloud to integrate EigenDA V2 to enhance Rollup data throughput.
The Rollup infrastructure solution provider Constellation Labs (operating under the name Caldera) has announced a strategic partnership with EigenCloud to integrate EigenDA V2 into its Rollup engine, increasing the data throughput of blockchain Rollups to 100 MB/s and achieving a significant breakthrough in scalability and performance. This partnership aims to address one of the core challenges facing current Rollups: efficient Data Availability (DA). In the traditional mode, Rollups need to directly publish transaction data to the Ethereum Layer 1 (L1) for verification and to maintain chain state, but this approach is costly and scalability is limited. By using a separate DA layer instead of solely relying on Ethereum L1, Rollups can reduce costs while significantly improving performance, supporting diverse use cases, and achieving scalable expansion without compromising security and decentralization. Caldera CEO Matthew Katz stated: "We are thrilled to integrate EigenDA V2 into Caldera's Rollup engine, providing unparalleled scalability for the collaborative project. As more institutions such as payment companies, fintech firms, and banks go on-chain, the importance of breakthrough scalability is self-evident." EigenDA: Future-Oriented Blockchain Infrastructure EigenDA is a next-generation Data Availability solution that leverages Danksharding design concepts while eliminating the need for a separate consensus mechanism, utilizing Ethereum network's decentralized trust and providing robust economic security through millions of dollars in re-staked ETH. Its core advantages include: Bandwidth Assurance and Fixed Costs: EigenDA is the only DA solution that offers bandwidth reservation, ensuring Rollups have guaranteed bandwidth at a fixed cost to meet the stability demands of enterprise-grade and high-throughput scenarios. Proven Performance: EigenDA's performance has been validated in real-world environments. The Eigen team has successfully published real-time chain states of all L1 and L2 blockchains to EigenDA. One-Click Integration Through the Caldera Platform The integration of EigenDA V2 will be offered as a one-click option on the Caldera dashboard for any new Rollup deployment. This streamlined process eliminates the technical complexity associated with integrating advanced Data Availability solutions traditionally, allowing developers of any infrastructure experience level to access cutting-edge performance. Existing Caldera chains can also choose to switch to EigenDA V2. This flexibility ensures that all Caldera users can benefit from this collaboration, whether they are launching new projects or optimizing existing deployments. About Caldera Caldera is a leading Rollup infrastructure provider based in San Francisco, dedicated to helping developers and institutions rapidly deploy and manage high-performance Rollups, driving blockchain scalability and adoption through innovative infrastructure solutions.
ChainOpera AI and EigenLayer Announce Official Partnership to Build a Trusted On-Chain AI Agent Network, with Daily Transactions Surpassing 600,000
BlockBeats News, August 1—According to official sources, AI Agent platform ChainOpera AI has entered into a partnership with restaking protocol EigenLayer to jointly advance the infrastructure for "Runtime-Verifiable AI Agents." The two parties will implement on-chain auditing mechanisms to enable end-to-end verification of AI Agent reasoning and execution, driving the evolution of AI services from "black box" operations to "trusted collaboration." Currently, ChainOpera has built a community-driven AI Agent social network that supports personalized virtual companions collaborating on tasks such as trading, prediction, and productivity. The platform now sees over 600,000 daily interactions and has accumulated more than 300,000 paying users. Users can interact with multiple Agents and participate in the Prompt-to-earn incentive mechanism via chat.chainopera.ai; developers can build and publish Agents on agent.chainopera.ai, earning points and token revenue shares based on quality and usage. It is reported that the CEOs of both ChainOpera and EigenLayer hail from Professor David Tse's lab at Stanford/Berkeley and have previously conducted joint research at Berkeley. This renewed collaboration is seen as a significant synergy between two major infrastructure players in the field of trustworthy on-chain AI, and is highly anticipated.
Growing Popularity of Ethereum in Corporate Crypto Treasury Reserves
By the end of July 2025, major corporate investors acquired about 1% of the total Ethereum supply. Institutional demand is accelerating, outpacing Bitcoin accumulation rates. Corporate Ethereum treasuries increased by 876,000 ETH in July, bringing their holdings to approximately 0.9% of the total Ethereum supply. This data comes from Bernstein, cited by The Block. Analysts at Standard Chartered, whose report was obtained by CoinDesk, confirm that institutional investors now collectively acquired about 1% of all ETH issuance. Analysts note that corporate interest in Ethereum largely mirrors the strategy seen in corporate Bitcoin reserves, but with a crucial difference — the ability to earn operational yield through staking . With the current annual staking rate around 3%, holders can generate quasi-passive income, which is not possible for BTC holders. Among the leading corporate Ethereum investors are SharpLink Gaming, BitMine Immersion, Bit Digital, and BTCS. Funding was raised both from public markets and private investors. Standard Chartered analysts predict that ETH holdings on corporate balance sheets could grow to 10% of total supply as institutional adoption continues. However, Bernstein emphasizes that Ethereum treasury models carry new risks. Unlike Bitcoin reserves, where assets remain fully liquid, staking participation restricts fund withdrawals due to exit queues and risks related to potential smart contract vulnerabilities. Liquidity remains high but aggressive strategies, such as restaking via EigenLayer or similar protocols, substantially increase risk. Furthermore, strategic growth drivers for ETH include the expansion of stablecoin issuance and tokenization of real-world assets, with most projects in these areas being developed on the Ethereum ecosystem. More than 50% of dollar-pegged stablecoins currently circulate on Ethereum. With the introduction of regulated stablecoins and growth in the RWA market, Ethereum’s position as a foundational financial blockchain infrastructure is set to strengthen. Against this backdrop, Glassnode data shows Ethereum’s open interest dominance reaching nearly 40%, the highest level since April 2023. Additional growth drivers for ETH demand are spot Ethereum ETFs, which attracted $6.7 billion in the first half of the year and now manage $20.7 billion in assets under management. The Ethereum team recently initiated a radical optimization of the blockchain’s base layer architecture. Significant technical upgrades are underway , aimed at elevating protocol security to institutional standards and complying with regulatory requirements. This roadmap is expected to cement Ethereum as the foundational blockchain infrastructure for online projects and the global economy.
Eigen Labs CEO says ‘critical milestone’ slashes scalability trade-off
Eigenlayer took a step toward scaling decentralized infrastructure by rolling out a multichain verification feature that allows decentralized services to run on layer-2 networks while retaining Ethereum-grade security. On Thursday, Eigenlayer introduced a protocol feature that lets Actively Validated Services (AVS) run on layer 2s, in addition to the Ethereum network. Eigen Labs launched the new feature on the Sepolia Testnet on the Base network. Eigen Labs founder and CEO Sreeram Kannan told Cointelegraph the update marked a “critical milestone” in the company’s roadmap. He said that while the feature is launching on Base Sepolia, they plan to roll it out to additional blockchains soon. “Base stood out as our first partner because of its vibrant builder ecosystem and alignment with our mission to accelerate the app layer,” he said, adding that they are working to support additional chains and plan to bring the feature to mainnet environments in the third quarter of 2025. Eigen Labs CEO explains multichain vision for decentralized services Kannan told Cointelegraph that the feature allows EigenCloud to fulfill its mission of scaling verifiable infrastructure everywhere. He said this requires AVS to meet developers across many chains, not just the Ethereum mainnet. “Until now, AVS had to choose between leveraging Ethereum’s security or scaling to faster, cheaper environments,” Kannan said. “With Multi-Chain Verification, they don’t have to make a choice.” The system ensures that AVSs deployed on other blockchains inherit EigenLayer’s pooled security. Validator data, such as stake weights, operator configurations and slashing penalties, is automatically synced across all supported chains. Slashing refers to penalizing validators who act maliciously or misbehave, while stake weights refer to how much crypto a validator has staked. Blockchain networks push infrastructure upgrades Eigenlayer’s new upgrade comes as networks move to enhance technical capabilities. On Thursday, hybrid blockchain Build on Bitcoin rolled out a technical upgrade that brought it closer to getting a fully decentralized mark on the L2Beat platform. The network implemented zero-knowledge (ZK) fraud proofs within an optimistic rollup framework. Meanwhile, the Ethereum Foundation set a timeline for implementing zkEVM in the mainnet within one year. On July 10, the foundation laid a path toward replacing traditional block execution with ZK-proofs.
Bernstein flags unique risks facing Ethereum treasuries
Equity research and brokerage firm Bernstein revealed that Ethereum treasuries are generating more on the digital asset than their Bitcoin-focused counterparts. According to the report, the treasuries are generating staking rewards in addition to holding the virtual asset as a reserve asset. On Monday, the analyst wrote in a note that Ethereum treasuries are facing challenges such as liquidity constraints and smart contract risks that differ from Bitcoin treasury models. The company argued that Ethereum’s proof-of-stake mechanism allows the firms to stake assets for yield, but Bitcoin’s proof-of-work structure allows entities to hold BTC without staking. Ethereum Treasuries emerge as next evolution of Strategy’s playbook Bernstein noted that Ethereum treasuries are also attempting to address limitations on how they deploy capital. According to the report, the treasuries’ staking contracts are liquid, but often wait for days in the queue to unstake. The analyst argued that ETH treasuries need to balance Ethereum liquidity and yield optimization as they stake the digital asset for yield. The brokerage firm added that yield optimization techniques such as the Eigenlayer staking model and DeFi-based yield generation require smart contract security risk management. “The ETH treasury model has the benefit of actual cash flow yield driving operating earnings, however liquidity risk and security would be important considerations.” -Bernstein. The report also noted that companies, including SharpLing Gaming (SBET), Bit Digital (BTBT), and BitMine Immersion (BMNR), are focusing on building Ethereum treasuries. According to Bernstein, the trio had accumulated around 876,000 ETH in July, which accounts for 0.9% of the total supply. See also BlackRock’s ETHA becomes third-fastest ETF to $10B BMNR revealed last week that it surpassed $2 billion in its ETH holdings. The firm also announced that it’s aiming to hold and stake around 5% of the total Ethereum supply. Bernstein believes that the growth of the digital dollar and tokenized assets will drive higher user growth in the Ethereum ecosystem. The firm argued that ETH’s transaction volume on layer-2 chains, operated by platforms like Coinbase and Robinhood, will help Ethereum accrue value from the growth of the asset’s financial economy. At the time of publication, the digital currency is currently exchanging hands for around $3,809, a 56.42% rise in the last 30 days. BitMEX founder Arthur Hayes has predicted that ETH will surpass its previous record high of $4,800 this year and reach $10,000 by the end of 2025. BitMine Immersion Chair Tom Lee also predicted that the digital asset could hit $60,000, almost 18 times its current value. The equity research firm also argued that Ethereum treasuries have mirrored Strategy’s model, which shifted its focus from software development to purchasing Bitcoin in 2020. The firm now holds around $72 billion in BTC, but Bernstein believes ETH treasuries could have a more involved risk management strategy compared to Strategy’s model. See also Ethereum exit queue reaches all-time high in record validator withdrawal DAOs face centralization risks The brokerage company cautioned that Ethereum treasuries also face centralization risks, particularly in governance token distribution and control. The firm argued that treasury platforms such as Karpatkey, Llama, and Avantgarde are controlled by core contributors, which raises concerns over accountability due to the large sums of public capital they manage. According to the firm, DAO’s internal legal framework makes it hard to identify the responsible party for asset mismanagement. The equity research company believes that, as much as treasury protocols offer undisputed composability, there’s a void in scaling in a decentralized and compliant manner. Bernstein acknowledged that ETH treasuries are unregulated asset managers, warning that a lack of a clear legal framework would expose them to enforcement action or internal governance breakdowns. The brokerage firm still believes the treasuries will grow as DAOs adapt to financing parameters. The company also hopes that the category will mature as the regulatory environment begins to incorporate clearer standards for decentralized entities. Bernstein forecasts a $1 billion ETH treasure could garner around $30-$50 million in annual returns from staking and yield strategies. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Institutional Ethereum Staking Gains Traction Amid Yield Opportunities and Liquidity Risk Considerations
Institutional Ethereum staking is a method where companies lock ETH to earn yield and support network security, but Bernstein warns of liquidity risks like withdrawal delays and smart contract vulnerabilities. Ethereum staking offers institutions passive income and network participation benefits. Liquidity risks include unstaking delays, re-staking complexities, and DeFi smart contract exposures. Bernstein highlights the need for risk management and regulatory awareness amid growing ETH institutional holdings. Institutional Ethereum staking offers yield and network benefits but requires careful liquidity risk management. Discover key strategies to safeguard your ETH assets. Why Are Institutions Increasingly Investing in Ethereum Staking? Ethereum staking attracts institutions due to its yield generation and network governance roles. By locking ETH in the Proof-of-Stake system, companies earn rewards while supporting Ethereum’s security. In July alone, firms acquired 876,000 ETH, representing nearly 0.9% of total supply, signaling strong institutional conviction in Ethereum’s long-term potential. What Makes Ethereum Staking a Strategic Move for Institutional Investors? Ethereum’s transition to Proof-of-Stake enables validators to earn steady yields by staking ETH. This approach offers a predictable income stream amid low interest rates. Additionally, institutions gain influence in network governance and contribute to decentralization, aligning with their long-term investment strategies in DeFi and Web3 ecosystems. What Are the Key Liquidity Risks in Institutional Ethereum Staking? Bernstein’s analysis highlights critical liquidity challenges companies face when staking ETH. Withdrawal queues can delay access to funds for days, complicating capital management. Re-staking protocols like EigenLayer increase exposure to multiple smart contract risks and potential slashing penalties. Additionally, integrating staked ETH into DeFi platforms introduces vulnerabilities from bugs or exploits, while debt management amid volatile ETH prices risks forced liquidations. How Do Withdrawal Delays Impact Institutional Staking Strategies? Unstaking ETH is not immediate; it can take several days or longer during network congestion. This delay restricts quick capital access, which is crucial for operational flexibility and responding to market changes. Institutions must plan for these timing constraints to avoid liquidity shortfalls. How Can Companies Mitigate Ethereum Staking Risks Effectively? Risk mitigation requires strategic diversification and thorough due diligence. Institutions should maintain a balance between staked and liquid ETH, understand withdrawal protocols, and carefully evaluate re-staking and DeFi platforms through audits and reputation checks. Stress testing portfolios and employing institutional-grade custodians enhance security and liquidity management. Staying updated on regulatory changes is also essential to ensure compliance and operational continuity. What Best Practices Ensure Safer Ethereum Staking for Institutions? Implementing diversified ETH allocations, conducting comprehensive protocol reviews, and using custodial solutions with clear liquidity terms are key. Regular stress tests help anticipate market shocks, while regulatory monitoring safeguards against compliance risks. These steps collectively reduce exposure to staking-related liquidity and operational hazards. Risk Factor Impact Mitigation Strategy Withdrawal Delays Funds locked for days Maintain liquid ETH reserves Re-Staking Risks Smart contract vulnerabilities Due diligence and audits DeFi Integration Exposure to exploits Use vetted protocols only What Is Bernstein’s Outlook on Ethereum’s Future Price and Network Growth? Bernstein forecasts a positive long-term trajectory for ETH price driven by expanding network usage. As Ethereum’s scalability solutions like sharding and layer-2 rollouts mature, demand for ETH as a foundational asset is expected to rise. This growth supports institutional staking strategies, provided liquidity risks are managed prudently. How Will Ethereum’s Scalability Affect Institutional Investment? Improved scalability reduces network congestion and transaction costs, enhancing Ethereum’s usability for DeFi and NFTs. This progress attracts more users and developers, increasing ETH demand and potentially boosting staking rewards, which benefits institutional holders. Frequently Asked Questions What is Ethereum staking and why are companies doing it? Ethereum staking involves locking ETH to secure the network and validate transactions under Proof-of-Stake. Companies stake ETH to earn passive income, support decentralization, and invest in Ethereum’s long-term growth. What are the main liquidity risks associated with Ethereum staking? Liquidity risks include delays in unstaking ETH, risks from re-staking platforms like EigenLayer, smart contract vulnerabilities in DeFi, and market volatility affecting collateralized debt positions. How long does it take to unstake ETH? Unstaking ETH typically takes several days, but delays can extend during high network activity or large withdrawal volumes, impacting immediate liquidity. What is re-staking and how does it increase risk? Re-staking allows staked ETH to secure additional decentralized services, increasing yield but also layering smart contract and slashing risks from multiple protocols. What measures can companies take to mitigate Ethereum staking risks? Companies should diversify ETH holdings, understand withdrawal processes, conduct due diligence on protocols, stress test portfolios, use institutional custodians, and monitor regulatory changes. What is Bernstein’s outlook on Ethereum’s future price? Bernstein expects ETH prices to rise as network usage grows and scalability solutions mature, supporting long-term institutional investment. Key Takeaways Institutional Ethereum staking offers yield and network participation benefits. Liquidity risks such as withdrawal delays and smart contract exposures require careful management. Strategic diversification, due diligence, and regulatory awareness are essential for risk mitigation. Conclusion Institutional Ethereum staking represents a pivotal advancement in crypto adoption, combining yield opportunities with network governance roles. Bernstein’s liquidity risk warnings emphasize the need for thorough risk assessment and strategic planning. By balancing opportunity with prudence, companies can harness Ethereum’s potential while safeguarding their assets in this dynamic financial landscape. In Case You Missed It: Bitcoin May See Positive Impact Following U.S.-EU Trade Deal Amid Market Stabilization
180 Life Sciences bets $425m on Ethereum treasury in bid to become ETHZilla
Palo Alto’s 180 Life Sciences is making a radical pivot, ditching biotech for crypto. With a $425 million private placement backed by Ethereum’s elite, the soon-to-be ETHZilla aims to build the largest corporate ETH treasury, blending DeFi yield strategies with Wall Street appeal. Summary 180 Life Sciences is pivoting from biotech to Ethereum, raising $425M to rebrand as ETHZilla and build a major corporate ETH treasury. The firm’s strategy emphasizes active DeFi participation, with Electric Capital managing staking, liquidity, and lending operations. ETHZilla’s pivot reflects a broader trend, as Standard Chartered forecasts corporate ETH treasuries could grow to hold 10% of total ETH supply. According to a press release dated July 29, Nasdaq-listed biopharma firm 180 Life Sciences has entered into agreements for a $425 million private placement, with plans to convert nearly all its treasury reserves into Ethereum ( ETH ) and rebrand as ETHZilla. The funding round, led by a consortium of crypto heavyweights including Electric Capital, Polychain, and founders of Lido, Eigenlayer, and Compound, is expected to close by August 1. If successful, the move would position ETHZilla among the largest corporate holders of Ethereum, marking a sharp departure from its origins in anti-inflammatory drug research. From biotech to blockchain: The ETHZilla playbook The pivot appears to be a calculated bet on Ethereum’s dual role as both a store of value and a yield engine. Unlike Bitcoin treasury plays, where accumulation is the endgame, ETHZilla’s strategy hinges on active participation in Ethereum’s financial ecosystem. Per the statement, Electric Capital, the firm tapped to manage its assets, will deploy a multi-pronged approach: staking for base rewards, liquidity provisioning in DeFi markets, and private lending agreements designed to outperform passive holdings. “We believe that this planned strategy reflects a strong, long-term investment approach that can be supported by a highly capable team and a transformative transaction,” said Blair Jordan, CEO of 180 Life Sciences. “We plan to execute a differentiated investment approach that will be designed to provide a straightforward opportunity for investors to participate in the growth of Ethereum through the public markets.” The roster of backers reads like a who’s who of Ethereum’s builder class: Polychain Capital, Lido co-founder Konstantin Lomashuk, Eigenlayer’s Sreeram Kannan, and Compound’s Robert Leshner are among the 60-plus institutional and crypto-native investors in the $425 million PIPE. Their involvement signals a tacit endorsement of ETHZilla’s thesis that corporate ETH holdings should actively engage with the protocols reshaping finance. The corporate ETH arms race heats up ETHZilla’s move aligns with a broader trend that has quietly accelerated over the past two months. Standard Chartered’s latest report reveals corporate ETH treasuries now hold 1% of circulating supply , roughly 1.26 million Ether tokens accumulated since June. According to the bank, this buying spree parallels ETH ETFs’ record inflows, highlighting how new players are pivoting aggressively to the world’s second-largest crypto asset by market cap. Analyst Geoffrey Kendrick predicts these holdings could increase tenfold, eventually reaching 10% of supply. Firms like BitMine, which is aiming for 5% of ETH’s supply, and Consensys-backed SharpLink Gaming are already deep in the game. For ETHZilla, the pivot remains a high-stakes experiment, where the risks are as pronounced as the rewards. Besides accumulation supremacy battles, managing on-chain yield requires navigating smart contract vulnerabilities, liquidity crunches, and regulatory gray zones, challenges even DeFi natives struggle with. Yet if successful, the model could redefine how public companies interact with crypto: not as passive holders, but as active ecosystem participants.
Ethereum validator exit queue reaches highest point ever
The Ethereum validator exit queue reached 744,000 validators as of Saturday, July 26, its highest ever point in history. For context, the exit queue averaged roughly under 1,000 validators per day just two weeks ago. The exit queue spiking was likely caused by a mechanical liquidity shock on Aave’s borrow rates. Over a week ago, roughly 167,000 ETH (worth over $630 million) was withdrawn from the Aave lending pool, driving Aave’s wETH borrow APR from ~3 % to double‑digits. The higher borrowing costs flipped a popular stETH/LRT loop‑leverage trading strategy from positive to negative carry, forcing vaults and whales to repay loans and look for raw ETH. To get ETH, deleveragers redeemed stETH/wstETH and newer LRTs via the validator‑withdrawal path, causing the exit queue to spike. As a result, stETH slipped around 0.3%-0.6 % below par, causing arbitrageurs to buy the discount and join the exit queue to pocket the spread, compounding congestion. More validators queuing led to longer waits, leading to bigger opportunity costs that led to even more stETH selling, causing a reflexive loop. This phenomenon is expected to be temporary with the exit queue to subside as Aave rates normalize, which would cause the stETH discount to close and arbitrage redemptions to clear. Another reason for the spike in validator exits is EigenLayer's reopening of its deposit caps, prompting operators to exit native validators or Lido, with much of this ETH expected to re-enter via restaked validators. This was evident by EigenLayer experiencing net inflows worth ~$940 million on Monday, July 21. This is an excerpt from The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.
EigenLayer Introduces Multi-Chain Verification with Base as Its First Partner
EigenLayer launches multi-chain verification, enabling AVS to extend Ethereum-grade security across Layer-2 networks like Base. Developers can deploy AVS on Base with minimal adjustments, benefiting from low fees and faster execution with verifiable security. EigenLayer has released its Multi-Chain Verification feature , allowing its services to extend beyond Ethereum Layer-1. The first partner for this launch is Base, Coinbase’s Layer-2 network, which has been added to the list. EigenLayer Expands AVS Reach Without Compromising Ethereum Security While EigenLayer’s security services are typically only available on Ethereum, now AVS (Actively Validated Services) can be operated on other chains like Base, without sacrificing security. So, for example, if you need a data validation service or oracle that remains connected to Ethereum but want lower fees and faster transactions, the path is now wide open. 📣 EigenCloud is going Multi-Chain. 📣 Today, we’re launching Multi-Chain Verification with our first integration on @base , bringing verifiable security to one of the fastest-growing ecosystems in crypto. ☁️🟦 This update enables AVSs to verify across L2s while preserving… pic.twitter.com/JYuSna7mDj — EigenCloud (@eigenlayer) July 24, 2025 Base itself is known for its agility, so it’s no surprise it’s the first choice. Although it’s only initially on the Sepolia testnet, the mainnet launch is planned for the third quarter of this year. The goal? To simplify and cost-effectively activate cross-chain AVS, eliminating the need to repeatedly bridge assets to Ethereum. Simply set a few parameters, and the system is up and running. On the other hand, it’s not just about the network. CNF reports that EigenLayer is also developing an AI verification system with Sentient . This system aims to automate DAO decision-making in a way that remains transparent and trustworthy to the community. Furthermore, the AI can even read network conditions and act without human intervention—still with the security support of EigenLayer’s staking and slashing system, of course. This AI project is built on EigenCloud, a new module introduced in mid-June . This is where EigenLayer’s new strength lies. By combining a computational layer, data availability, and a dispute resolution mechanism, EigenCloud can provide off-chain services that remain verifiable. This means not only on-chain validation services but also off-chain AI applications or services can join this ecosystem—as long as they can be proven secure through restaking. What’s even more interesting is that this project is directly backed by a16z , one of the most active investors in the crypto space. This boost further enhances the developer experience. They can build cross-chain verified services, using Ethereum as a security anchor, without worrying about cost efficiency or network complexity. Base Is Just the Beginning The launch on Base is just the beginning. Going forward, Multi-Chain Verification is planned for more chains. This means AVS can be deployed anywhere, but still rely on a single source of security: Ethereum. So, instead of building a new network with its own validators, simply connect to EigenLayer and take advantage of restaking ETH or EIGEN tokens. In other words, Ethereum remains the backbone, but operations can be done on other chains that are faster and cheaper. This flexibility opens the door wide for DeFi applications, games, and even AI projects to operate more efficiently, without losing trust. Meanwhile, as of the writing time, EIGEN is changing hands at about $1.35, up 4.55% over the last 24 hours and 20.59% over the last 30 days.
RISC Zero Launches Boundless Incentivized Testnet to Build a Universal Zero-Knowledge Protocol
Foresight News reports that RISC Zero has announced the launch of its zero-knowledge computing marketplace, Boundless, on the Base chain’s mainnet testnet (incentivized testnet). Boundless is dedicated to decentralizing general-purpose zero-knowledge computation, with early adopters including the Ethereum Foundation, Wormhole, EigenLayer, and others. Boundless also introduces the Proof of Verifiable Work (PoVW) mechanism, which is designed to reward miners participating in zero-knowledge computation. This mechanism encourages developers and compute providers to collaborate across chains, supporting the computational needs of various on-chain applications by generating and verifying ZK proofs. Boundless CEO Shiv Shankar stated that the protocol avoids redundant computation tasks, enables cross-chain interoperability, and enhances both security and scalability. The launch of the mainnet testnet means that protocols on any chain can now access Boundless’s ZK computation, aggregation, data availability, and settlement features.
Inception Protocol to Cease Operations Amid Market Challenges
Key Takeaways: Inception Protocol ends operations, citing unsustainable liquidity. Fund withdrawals encouraged before September 1, 2025. Closure reflects broader challenges in the DeFi restaking sector. Inception Protocol to Cease Operations Amid Market Challenges Lede: Inception Protocol, built on the EigenLayer, announced it will cease operations by July 2025, urging users to withdraw assets by September 1. Nut Graph: Inception Protocol’s shutdown highlights challenges faced by decentralized finance networks, affecting market liquidity and restaking assets. Operational Challenges The Inception Protocol was designed to promote liquidity efficiency using EigenLayer , focusing on liquid staked ETH derivatives. Despite these efforts, it struggled with finding a product market fit , leading to its decision to wind down. “We aimed to create a decentralized, permissionless, and curator-led protocol that was aligned with the Ethereum ethos. But despite the progress, Inception did not find product market fit…lack of liquid rewards in shared security made the path forward unsustainable for the protocol.” — Inception Protocol Team, Official Team Statement Operating on EigenLayer and affected by the DeFi ecosystem, Inception Protocol urged users to withdraw their funds, ensuring safety via a full snapshot of user positions. This decision comes amid a wider downturn impacting the crypto industry. Impact on Restaking The shutdown affects restaking-related assets like stETH, rETH, and cbETH, pushing liquidity back to users. Investors and users may face potential market volatility, raising concerns about the broader implications of DeFi restaking. With industry echoes resonating through crypto markets, financial backers are reevaluating investments. Technical innovation remains acknowledged but does not counterbalance the challenge of sustainable growth, raising potential interest in regulatory perspectives and future technological adaptations. Broader Industry Implications The closure of Inception Protocol signals the liquidity and adoption challenges faced by similar entities, pressing for a strategic overhaul within the DeFi restaking sphere.
Filled orders
Delivery scenarios
