u/everstake

It sounds almost impossible today, but that was the first known exchange rate between Bitcoin and the US dollar.

At the time, $1 was worth roughly 1,309 BTC.

Bitcoin had barely existed, there was almost no market infrastructure around it, and the idea of a decentralized digital currency was still largely experimental.

There were no ETFs, no institutional custody, no billion-dollar companies holding BTC on their balance sheets, and certainly no global crypto industry.

History really does age differently in crypto...

https://preview.redd.it/pyc28so1ktth1.png?width=1280&format=png&auto=webp&s=a1073b5fa3e18dc43832796afe719fdce5b5254d

The last 5% will take another 114 years. Set a reminder for 2140.

So Bitcoin passed its 20 millionth coin this year. The cap is 21 million, which leaves roughly 1 million BTC still to be mined. Sounds like the finish line is close, right? Not really. The halving cuts the block reward in half about every four years, so the first 20 million took around 17 years, and the last million will drag on until roughly 2140. Your great-great-grandkids might get to see the final block. Maybe.

And out of those 20 million coins, the amount you can actually go and buy is tiny. Glassnode data suggests about 13 million BTC are basically parked forever with long-term holders, institutions and cold wallets that never move. Exchanges hold only around 3 million. And roughly 1.8 million BTC, about 8.5% of everything, is probably just gone. Forgotten passwords, wiped laptops, a hard drive someone tossed in 2011 because "it's just some internet money worth 50 cents". Pour one out for those coins.

That's why ETF and institutional buying can move the price so much. Everyone's fighting over a much smaller pile than the 20 million headline makes it sound.

The price side is where people start yelling at each other. History looks great for the bulls: about 80x after the 2012 halving, around 300% after 2016, and more than 600% in the 16 months after 2020, according to data cited by CME Group. The skeptics aren't convinced though. FT columnist Jemima Kelly argues Bitcoin isn't really scarce since thousands of other tokens exist. The usual reply is that nobody can change Bitcoin's 21 million limit, which is kind of the whole point.

We honestly think price is the least interesting thing about this milestone. Scarcity is done, that box was ticked years ago. The thing nobody has fully figured out yet is who pays for Bitcoin's security once new coins stop doing the heavy lifting. Bitcoin is exactly as safe as the money miners make, because that's what an attacker would need to outspend. Right now most of that money still comes from fresh coins, and that part gets cut in half every four years, on schedule, no exceptions. So sometime in the next decade, transaction fees have to step up and become a real chunk of miner income, or Bitcoin's security slowly gets cheaper compared to everything it protects.

Guys, what do you think about this?

Ethereum’s market dominance has climbed from 54.39% on July 23 to 56.51% today, adding 2.12 percentage points in just over a month.

From our perspective, this isn't happening in isolation. Liquidity is returning to crypto, market activity is picking up, and users are becoming more active across the ecosystem. As conditions improve, capital and attention naturally start concentrating around the networks with the deepest liquidity, strongest infrastructure, and broadest range of applications.

And Ethereum continues to capture a significant part of that activity.

Also, we see that its dominance isn't simply holding steady while the market recovers. It's expanding. That suggests Ethereum is strengthening its relative position as the broader crypto ecosystem becomes more active.

On-chain activity across DeFi, stablecoins, RWAs, L2s and other applications continues to reinforce Ethereum's role as one of the core economic layers of the industry.

The market is getting more active, and Ethereum is taking an increasingly large share of that activity.

Full post: https://x.com/everstake_pool/status/2098069265836339383

The proposal behind this is EIP-8141, also known as Frame Transactions, which has been scheduled for inclusion in Ethereum's future Hegota upgrade.

Today, there is a familiar problem for many users. You might have USDC, USDT, or another asset in your wallet, but if you don't have enough ETH to pay for gas, you can't move anything.

Basically: you have money, but you still can't use it because you don't have the right money to pay the fee.

Frame Transactions could change that. The idea is to separate the account that authorizes a transaction from the account that pays the gas fee. This could allow users to pay fees using stablecoins or even let an application cover the transaction costs on their behalf, while Ethereum itself would still ultimately receive the gas payment in ETH.

The proposal could also enable multiple actions to be bundled into a single transaction and give users more flexibility in how they manage wallet authorization and security.

This might sound like a relatively small technical change, but from a user experience perspective, it could be significant.

One of the biggest barriers to mainstream adoption has always been the complexity of interacting with blockchain infrastructure. New users shouldn't need to understand gas management, swap a few dollars into ETH, or worry about having the correct asset in the correct wallet just to perform a basic transaction.

Of course, EIP-8141 is still a draft, and the technical details could change before implementation. Frame Transactions are also not yet available to regular users.

Ethereum is trying to make the entire experience of using blockchain technology feel far less like using blockchain technology. And honestly, that's probably exactly what mainstream adoption needs.

Ethereum processed 70.07M transactions in a single month, making it the 3rd-highest monthly transaction count in the network's history.

And Ethereum is also doing something unusual for a network of this scale: it is trying to improve the underlying infrastructure while continuing to serve an enormous existing ecosystem.

Scaling, lower-cost execution, stronger privacy, improved security, and a more efficient protocol architecture are all being developed alongside continued real-world usage.

So while market narratives change every few months, the underlying infrastructure keeps working.

Full post: https://x.com/everstake_pool/status/2095171797205307791

This is a snapshot from just 2 weeks ago: extreme fear, and 'crypto is dead' trending as a sentiment. On-chain data shows it is also where the heaviest buyer cost basis of this cycle formed with coins moving from one hands to another.

Today: extreme greed, marking one of the biggest weekly cap gains since 2021.

Picture credit: https://app.santiment.net/insights/read/fud-is-popping-up-across-crypto-social-media-again-11164

🔴 For the first time ever, Solana has displaced Base as the #1 chain for agentic payment transactions on its biggest day yet.

Following significant growth over the past two weeks, the network processed more than 1.5M agentic transactions in a single day on Monday, marking an all-time high.

It’s an interesting development to watch as different chains compete to become the infrastructure powering the emerging machine economy.

📊 Data by Token Terminal.

Agentic transfer count by chain

Last week, the network processed an incredible 1,153,543,677 transactions, setting a new all-time record for weekly activity.

As market sentiment becomes increasingly bullish, more liquidity, trading activity, and users are moving back on-chain and Solana is clearly absorbing a significant share of that activity.

Huge congratulations to the entire Solana community and everyone building across the ecosystem.

The bar has officially been raised.

And knowing Solana… it probably won't stay there for long.

According to the estimates:

• 11.97M BTC (57%) - individual holders
• 3.507M BTC (16.7%) - estimated lost BTC
• 1.26M BTC (6%) - corporate treasuries
• 1.218M BTC (5.8%) - ETFs
• 1.092M BTC (5.2%) - Satoshi’s estimated holdings
• 1.008M BTC (4.8%) - yet to be mined
• 546K BTC (2.6%) - governments
• 399K BTC (1.9%) - miners

From our perspective, this is a strong long-term signal for Bitcoin. As adoption expands and more capital enters the market, there is a limited amount of BTC available to meet that demand. The important point is not simply that Bitcoin has a 21M cap. It is that a large portion of those coins is already held, inactive, or potentially inaccessible and that combination is what makes the long-term story so compelling.

Ethereum now has 41.9 million ETH staked, representing 34.37% of the entire ETH supply - the highest level ever recorded.

That means more than one-third of all ETH is now actively committed to securing the network and this could be extremely positive for Ethereum's long-term future.

As more ETH becomes committed to staking, a larger share of the total supply is being used to secure the network, while the amount of ETH freely circulating becomes relatively more constrained. If demand continues growing alongside network adoption, this combination could create a much stronger foundation for Ethereum's network economics and potentially support a more favorable long-term price environment.

Guys, do you stake or not?

Full post: https://x.com/everstake_pool/status/2088286097226747934

Bitmine has already accumulated around 5.81 million ETH, putting it at roughly 4.8% of the total supply and very close to its stated 5% target.

But the interesting part isn't just the size of the treasury, because unlike a typical corporate crypto treasury, Bitmine is staking most of its ETH. More than 5 million ETH is reportedly being used in staking, turning the treasury into an active part of Ethereum's economic infrastructure rather than simply a large balance sitting on a wallet.

At an estimated ~2.63% staking yield, Bitmine's current holdings could generate roughly $257 million in annualized staking revenue.

So what happens after 5%?

There are a few possibilities:

1. They keep buying.
2. Reaching 5% may simply become another milestone rather than a stopping point.
3. They slow down.
4. Bitmine could shift its focus from aggressive accumulation toward managing the treasury and maximizing staking revenue.
5. They stop accumulating.
6. This would be the most interesting market signal. If one of the largest corporate ETH buyers suddenly stopped adding, it could change short-term demand dynamics.

But there's another angle worth discussing. If Bitmine continues staking a significant portion of its ETH, its influence isn't only about how much ETH it owns. It's also about how much ETH it contributes to the validator ecosystem and how much staking activity becomes concentrated in one corporate entity.

What do you think about this, guys?

Source: Arkham

On August 10, the network processed 171.9 million daily transactions, excluding validator vote transactions, the highest level ever recorded.

Solana's non-vote transaction activity has been trending upward for months, with the network increasingly operating at levels that would have looked exceptional not long ago and that's an important distinction when evaluating blockchain growth.

Price can change in minutes based on sentiment, liquidity, or broader market conditions. On-chain activity tells a different story: how much users and applications are actually using the infrastructure.

Obviously, transaction count alone doesn't tell us everything about network health. But reaching a new all-time high while maintaining a broader upward trend is truly remarkable.

Big congratulations to the Solana team and community. The bar keeps moving higher.

Full post: https://x.com/everstake_pool/status/2087503032132989085

Vitalik Buterin has outlined an updated vision for Ethereum’s next phase, with many of the priorities aligning closely with the Ethereum Foundation’s evolving Strawmap.

The focus is becoming increasingly clear: Ethereum is trying to become simpler, more private, more scalable, censorship-resistant, and resilient against threats that may not even exist at scale today.

Some of the key priorities include:

• Privacy and censorship resistance becoming core protocol properties
• Quantum-resistant security designed to protect Ethereum for decades ahead
• A simpler protocol architecture, reducing unnecessary complexity
• Gas and blob futures, potentially making transaction costs more predictable
• Native rollups, with execution increasingly integrated directly at the L1 level
• Exploring more modern instruction sets instead of making the protocol permanently dependent on the EVM

What we find most interesting is that some of these ideas weren't technically realistic, or weren't even seriously considered just a few years ago.That says something important about Ethereum's development philosophy.

The goal isn't simply to optimize today's blockchain. It's to redesign parts of the system around the problems Ethereum expects to face 5, 10, or 20 years from now.

If this roadmap is executed successfully, Ethereum could end up looking very different from the network we know today while remaining compatible with the ecosystem built on top of it.

What do you think about this, guys?

The network processed 20,364,529 transactions in July 2026, making it the second-best month in entire history by transaction count. As new users, institutions, and Bitcoin-native applications continue to arrive, on-chain activity keeps pushing toward record territory.

We think that, it's a remarkable achievement for a network that has been operating for more than 17 years and continues to reach new milestones. Congratulations to everyone contributing to the Bitcoin ecosystem!

In July 2026, the network processed 72.37 million transactions, making it the second-highest monthly transaction count in Ethereum's history.

It's crazy that the network is reaching record levels of activity without the kind of euphoric market conditions that have historically driven transaction spikes. Instead, usage continues to grow through a combination of expanding L2 ecosystems, increasing on-chain applications, stablecoin activity, and a steady stream of users interacting with the network.

Transaction count isn't a perfect metric on its own, but it remains one of the clearest indicators of real network utilization. Sustained growth at this scale suggests that Ethereum's infrastructure continues to support an increasingly active and diverse ecosystem.

And right now, that story is one of continued adoption, expanding on-chain activity, and an ecosystem that keeps pushing new milestones.

Believe in somETHing.

Full post: https://x.com/everstake_pool/status/2084671156322197948

Solana co-founder Anatoly Yakovenko recently shared an interesting perspective on why traditional finance may increasingly move on-chain.

His argument is straightforward: global demand for U.S. equities continues to grow, but access remains uneven. Many investors still face limitations based on geography, market hours, settlement delays, or local financial infrastructure.

Blockchain offers a different model.

Instead of relying on fragmented financial systems, tokenized equities could provide:

• 24/7 market access, rather than being limited to traditional trading hours.
• Global participation, allowing investors from different regions to access the same markets more efficiently.
• Near-instant settlement, reducing the delays and complexity associated with conventional clearing systems.
• Greater transparency, with transactions recorded on a public ledger.

Yakovenko described blockchain as the latest and potentially inevitable attempt to connect global liquidity into a single financial network.

Whether Solana ultimately becomes the dominant platform for tokenized assets remains an open question, as several ecosystems are pursuing the same opportunity.

The next major chapter of blockchain adoption may be less about cryptocurrencies themselves and more about bringing traditional financial assets on-chain.

Full post: https://x.com/everstake_pool/status/2084288428838170690

On July 30, 2015, Ethereum launched with a simple but powerful idea: make blockchain programmable.

11 years later, it has become one of the most important networks in the industry and its evolution is far from over.

Ethereum has gone through major milestones, from the DAO era and the transition to Proof-of-Stake with The Merge to Shapella, Dencun, Pectra and Fusaka.

The scale today is remarkable:

• More than 37M ETH securing the network
• Nearly 1M active validators
• Around 30.5% of circulating ETH staked
• More than 50% of all ETH ever issued has passed through the Proof-of-Stake deposit contract

And Ethereum is still improving.

Glamsterdam is already on the roadmap for the second half of 2026, with upgrades designed to increase capacity and further strengthen the network.

At Everstake, we are proud to have run Ethereum validators since before The Merge, from the network's early phase.

11 years of building, upgrading and pushing blockchain technology forward.

Happy 11th anniversary, Ethereum. Here's to everything still ahead.

Crypto has a strange habit of using price as the ultimate scoreboard.

Price goes up, the network is “winning.” Price goes down, suddenly everyone starts questioning the fundamentals.

But network growth doesn't work that way. Over the past year, SOL is down 60.1%, yet some of Solana’s underlying activity has moved in the opposite direction:

• Stablecoin supply: +46.5%
• Transaction activity: +14.9%

That means the ecosystem is processing more activity and holding significantly more stablecoin liquidity despite the much weaker token price. And that's an important distinction.

Price reflects market expectations, liquidity, positioning, and sentiment. On-chain activity tells us what users and applications are actually doing.

The two can diverge for long periods of time. Solana may be down 60% on the chart, but the network itself hasn't stopped developing. More stablecoins are moving through the ecosystem, transaction activity is expanding, and more capital is being used on-chain.

Eventually, the market may or may not reflect that progress in the way people expect. ИBt the infrastructure doesn't wait for the price chart.

The interesting part is that Solana's next phase of growth could already be underway, long before the market decides to notice.

Full post: https://x.com/everstake_pool/status/2082811166464553450

The network has now surpassed 425.8 million unique addresses, adding another major marker to Ethereum’s long-term growth story.

Also, on January 11, 2026, Ethereum recorded its largest daily increase ever, with 590,961 new addresses created in a single day.

And this isn't just about hitting a bigger number on a chart. The continued growth in unique addresses shows that Ethereum is expanding its reach across users, applications, and different parts of the ecosystem.

More addresses don't automatically mean more unique people, of course, one person or application can control multiple addresses. But combined with sustained network activity, developer growth, and expanding use cases, its looking good, very good.

Ethereum keeps expanding its footprint, and it looks like the next milestone won't take long to arrive.

Full post: https://x.com/everstake_pool/status/2082506612216910233

As AI agents become more autonomous, they won't just generate information. They'll need to pay for compute, access data, use services, trade resources, and transact with other agents, often without humans approving every interaction.

And that's where the blockchain layer becomes interesting.

A decentralized AI economy needs infrastructure that isn't controlled by a single company or platform. Ethereum can provide several important primitives:

• Permissionless settlement — agents can exchange value without asking a central authority for permission.
• Programmable incentives — smart contracts can define payments, rewards, and penalties automatically.
• Trustless coordination — independent agents can interact without relying on a shared intermediary.
• Global access — the same settlement layer can be used by agents operated by completely different organizations.

Without a neutral economic layer, autonomous AI ecosystems could simply become another collection of centralized platforms where one company controls the rules, payments, and access.

With Ethereum, the possibility is different: AI agents could interact economically based on code-defined rules rather than corporate relationships.

As Vitalik Buterin has pointed out, more decentralized AI means different systems controlled by different parties will need a way to interact and that interaction requires an economic layer.

The interesting question isn't whether AI and blockchains will intersect. It's how much of the future AI economy will actually need Ethereum underneath it.

Full post: https://x.com/everstake_pool/status/2081776289329926536