Caesaralby

Ethereum faces a $5 billion stress test, what are the three scenarios for 2026?the largest corporate holder of Ethereum, has successfully staked 1.53 million ETH, a position valued at more than $5 billion.

This massive allocation captures approximately 4% of all staked ETH and has effectively forced the network into a new phase of institutional stress testing.

Consequently, the total amount of Ethereum locked in the blockchain's beacon chain has pushed to a fresh all-time high of more than 36 million ETH. Notably, this figure accounts for nearly 30% of the network’s circulating supply.The liquidity squeeze
The most immediate market impact of BitMine’s deployment is a sharp reduction in ETH's “effective float.”

When a major entity stakes 1.53 million ETH, the assets do not disappear from the ledger; they simply become significantly harder to mobilize.

ETH's validator economics and protocol rules impose friction that fundamentally alters the asset's liquidity profile. Unlike cold storage assets, which can be sent to an exchange in minutes, staked ETH is subject to activation queues and withdrawal limits.

For context, the sheer scale of BitMine's move has caused immediate congestion on the network layer. The Ethereum staking validator entry queue has reached more than 2.3 million ETH, with a wait time of roughly 40 days. Notably, this is its highest level since August 2023.For financial markets, this number is significant because ETH's spot price is set at the margin by available liquidity rather than theoretical total supply.

So, if demand from other institutional actors remains constant while this “sticky” supply is removed from circulation, the reduced float can amplify price moves in either direction.Yield narrative
BitMine’s own communications highlight the primary driver of this strategy: yield generation.

Earlier this week, the firm projected that it could generate approximately $374 million annually, assuming a composite staking rate (CESR) of 2.81%. That translates to more than $1 million in daily revenThe hidden cost
While price and yield dominate the headlines, the most significant “second-order effect” of BitMine’s move is the reintroduction of governance and operational risk.

With a stake representing roughly 4% of the total 36 million ETH staked, BitMine has become a “top-tier” validator presence large enough to influence risk models.Compliance Pressure: A regulated, high-profile operator creates a focal point for political or legal pressure. Even without malicious intent, the perception that a large validator could be compelled to censor transactions creates a “protocol risk premium.” The market may discount the asset if it fears that the base layer's neutrality is compromised by corporate compliance burdens.
Market Reflexivity: A concentrated stake becomes a macro variable. If ETH rallies on the news of “treasury adoption,” it can just as easily sell off on fears of a “treasury unwind.” Investors must now ask not only what the Ethereum Foundation or developers are doing, but what BitMine intends to do with its significant ETH bag.

Exchanges, ETFs, treasury companies, governments, whales and Satoshi Nakamoto - these are the biggest holdersWhen grouping different wallets together into an entity, Satoshi Nakamoto - the pseudonymous creator of Bitcoin - is the largest holder of the currency, in possession of 1.096 million BTC (around $101 billion). Arkham’s tags are derived from a known mining pattern referred to as the Patoshi Pattern, and include the only (known) addresses from which Satoshi spent BTC from. Arkham’s research indicates he acquired this amount as a reward for mining 22,000 blocks.When it comes to individual addresses, the wallet holding the largest amount of BTC is a Binance exchange cold wallet, with almost 250,000 Bitcoin. Using Arkham, we can see which specific wallets hold the most Bitcoin:Bitcoin is a decentralized digital currency which operates on the blockchain - a peer-to-peer network. Because of these properties, nobody is the real owner of the Bitcoin network as a whole, but individuals can access & own the Bitcoin controlled by their own private keys.Bitcoin’s substantial appreciation in price, to around $126,000 in October 2025 and a peak market capitalization of $2.48 trillion, has consequently produced several Bitcoin billionaires and other affluent holders along the way. In this article, we’ll take a look at some of the people, companies and wallets which have become crypto whales and investigate the amounts of Bitcoin they hold, based on on-chain data and their own public announcements.Note: Bitcoin’s price is constantly fluctuating and the amount of BTC held by specific wallets may change over time. To stay up to date with the latest, sign up to Arkham and review our Bitcoin token page to see the top token holders.Satoshi Nakamoto is the largest holder of Bitcoin, in possession of 1.1 million Bitcoin worth approximately $101 billion at today’s prices.
Coinbase is the second-largest entity with holdings of 885k BTC. BlackRock has 778k, Binance has 629k, Fidelity Custody has 472k, and Strategy has 415k (although Strategy controls 674k BTC but some of this BTC is attributed to Fidelity Custody on-chain due to their omnibus custodial method)The United States Government holds 328k BTC. These holdings are from various asset seizures of criminal organisations.
There are multiple unknown Bitcoin billionaire wallets, with most being inactive following the initial inflow of Bitcoin to the wallet.LARGEST BITCOIN WALLETS
The Arkham Intel Platform groups wallets associated with one person or organisation into “entities”. Entities are useful because ‍large holders rarely keep all their assets in a single wallet for security and operational reasons. By grouping all associated wallets into a single entity, the Intel Platform provides a much more accurate and complete picture of that entity's total holdings and influence in the cryptoHowever, it is also possible to look at individual wallets, separated from their labelled entity. Below is a table of the top individual wallets. The top four are all cold wallets controlled by the world’s largest exchanges.

The fifth largest wallet is controlled by the U.S. Government from the Bitfinex Hack Recovery. The sixth largest is a wallet controlled by Tether to manage their Bitcoin reserves.

Market Share Expansion: Broadcom's total AI-related backlog reached $73 billion, with nearly $20 billion attributed to non-accelerator content, highlighting the increasing significance of networking and optical components as revenue sources, thereby solidifying its market position.
Technological Innovation: The early adoption of 800G optical modules and 1.6T silicon photonics interconnects demonstrates Broadcom's technological edge in meeting the demands of hyperscale AI clusters, which is expected to drive rapid growth in the future.Analyst Views on AVGO
Wall Street analysts forecast AVGO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AVGO is 398.73 USD with a low forecast of 300.00 USD and a high forecast of 480.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
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13.21% Upside

As the Senate prepares to consider crypto market structure legislation, here are four key things to know about the risks unregulated crypto poses to consumers and the banking system and how a comprehensive approach can solve for these risks while promoting responsible innovation.Context. Congress is establishing a regulatory framework for crypto through legislation to provide clear rules for the road for consumers and investors and promote regulatory clarity that supports U.S. innovation and leadership on digital assets. This legislation is an opportunity for lawmakers to address any attempt to evade the intent of the GENIUS Act, which, among other things, prohibits stablecoins from paying interest or yield. Other concerns warranting legislative solutions are the illicit finance risks presented by crypto. Addressing attempts to evade the GENIUS Act’s interest prohibition is necessary toStablecoin growth would likely displace bank deposits and reduce bank credit to the real economy, contrary to false claims by the crypto industry. The precise extent to which stablecoin growth would displace deposits depends on how several policy questions are resolved by Congress and U.S. regulators.The risk of significant deposit flight will be exacerbated if stablecoin issuers can indirectly pay interest through affiliates or other third parties. Yield or interest payment agreements between stablecoin issuers and affiliates or exchanges undermine the GENIUS Act’s prohibition regarding payment of interest and yield. The resultThe risk of significant deposit flight will be exacerbated if stablecoin issuers can indirectly pay interest through affiliates or other third parties. Yield or interest payment agreements between stablecoin issuers and affiliates or exchanges undermine the GENIUS Act’s prohibition regarding payment of interest and yield. The resultwill be greater deposit flight risk, especially in times of stress, that will undermine banks’ ability to provide credit to consumers and businesses and support economic growth. Some crypto companies style these interest payments as “rewards,” but rewards are just interest by another name. For example, one crypto firm has a revenue-sharing agreement in which it gives interestpayments to investors via a different crypto firm.Crypto lending and borrowing via DeFi platforms present a risk of loss to consumers and could transmit crypto shocks to the broader financial system. DeFi lending platforms operate like highly levered banks. However, contrary to traditional banks, DeFi platforms do not have deposit insurance or access to a lender of last resort, nor are they held to capital or liquidity requirements or regular examination.Despite the GENIUS Act, crypto pathways remain available for drug traffickers, terrorists and other criminals to exploit the U.S. financial system. These illicit actors use unhosted and internationally hosted wallets as well as DeFi platforms to evade detection and access the U.S. financial system.

Stablecoin interest regulation is tightening globally, with a strong push in the U.S. (via the GENIUS Act (H.R. 2392) and Digital Asset Market Clarity Act (H.R. 3633)) to prohibit stablecoin issuers from paying direct interest or yield to users, treating them more like payment instruments than bank deposits to protect traditional banking deposits and financial stability. While direct issuer payments are banned, loopholes exist for third-party platforms (Crypto Asset Service Providers - CASPs) to offer rewards through activities like staking or trading, though regulators aim to close these gaps, with approaches varying from outright bans to restricted allowances for professional investors. Key Regulatory Trends
Prohibition on Direct Interest: Major jurisdictions, including the U.S., are moving to ban stablecoin issuers from paying interest on stablecoin balances, distinguishing them from bank deposits.
Focus on Third-Party Platforms (CASPs): Regulators are scrutinizing yields offered by exchanges (CASPs) through activities like staking, liquidity provision, or governance, with some proposals seeking to ban these for retail users.Preventing Deposit Flight: A core motivation is to stop stablecoins from draining deposits from insured banks, which could harm financial stability and credit availability.
U.S. Legislation (GENIUS Act/Clarity Act): These laws aim to create a clear framework, forbidding interest on payment stablecoins while potentially allowing tokenized bank deposits to offer advantages, say Paul Hastings LLP and The Business Times.Impact on Users & Industry
Shift in Investor Strategies: Investors may need to shift from earning passive yield to participating in more active crypto activities.
Increased Scrutiny on CASPs: Crypto exchanges and platforms will face stricter rules on how they structure rewards, with potential restrictions on retail offerings.
Competition with Tokenized Deposits: Regulated tokenized bank deposits could become more attractive than stablecoins if they can offer competitive returns, per Arnold & Porter. Current Status
The U.S. Congress is actively debating these frameworks (e.g., the Digital Asset Market Clarity Act), with banking groups pushing for strong prohibitions on inducements.

I flussi di grandi dimensioni verso le borse hanno storicamente aumentato la volatilità a breve termine, poiché aumentano la possibilità che l'offerta entri sul mercato.

Mentre i depositi su Coinbase Prime non indicano sempre una vendita imminente, sono movimenti attentamente osservati dagli operatori, poiché a volte possono essere un preludio a un'azione più ampia. Gli operatori reagiscono al trasferimento di Bitcoin da BlackRock
La reazione su X è stata rapida, con gli operatori divisi tra allarme e scetticismo. Un terzo utente di X ha osservato che i depositi su Coinbase Prime «non significano sempre una vendita».

Dusk Network positions itself at the intersection of privacy tech and regulated finance, but its market structure reveals underappreciated trade-offs. The protocol’s compliance-first design favors permissioned asset flows and institutional issuers, which structurally limits organic DeFi liquidity compared to open L1s. On-chain activity remains episodic, driven more by pilot programs and test issuances than by continuous user demand, creating uneven fee generation and validator incentives.From a design perspective, Dusk’s use of zero-knowledge primitives for selective disclosure introduces governance friction: upgrades affecting compliance logic require higher coordination costs than typical DeFi parameter changes. Tokenomics further reflect this bias staking rewards are decoupled from transaction throughput, weakening the feedback loop between network usage and token value.In a market increasingly dominated by liquidity fragmentation and RWA narratives, Dusk’s challenge is not technical viability but scaling economic density. Its success hinges on whether regulated asset issuance can generate sustained on-chain velocity rather than isolated, compliance-driven deploymentsDusk Network: the Privacy Blockchain for Financial ApplicationsDusk Network is technology for securities. An open source and secure blockchain (DLT) infrastructure that businesses use to tokenize financial instruments and automate costly processesVirtual Machine - Rusk
Rusk enables you to program smart contracts, power new decentralised applications (dapps) and set parameters for compliance and control.

The Rusk VM relies entirely on zero-knowledge cryptography and is the world’s first Zero-Knowledge Virtual Machine (ZK-VM) implementation. Yes, even gas fee refunds, block rewards and other related transactions are obfuscated.Zero-Knowledge - PLONK
We are using PLONK, the latest and most recent advancement in zero-knowledge cryptography. Zero-Knowledge is paramount for public blockchain collaboration, because it allows businesses to transact securely and in strict privacy.

Fast immutable data - Kelvin
We created Kelvin in order to speed up immutable data storage. Kelvin is an exceptionally fast and cool Merkle Tree tool-kit for optimized data structure modellConsensus - Proof of Blind Bid
Dusk Network is powered by Proof of Blind Bid. Our novel privacy Proof-of-Stake consensus algorithm is energy conscious, and brings unprecedented network security due to its dual node structure: Block generators and provisioners.

Network Fuel - DUSK
Businesses use DUSK to pay for network services, such as deploying and running a smart contract, transferring DUSK or XSC based security tokens.

For each transaction submitted to the network, DUSK is used to compensate network nodes for bandwidth, verification, and storage.ing.Security Token Standard - XSC
All to enable businesses of all sizes to easily use our XSC 2.0 standard and issue security tokens.

Punti salienti dicembre 2025

A dicembre 31, 2025, l'azienda deteneva circa 155.227,3[1] ETH.
A seguito di un prezzo di chiusura dell'ETH di circa 2.967 dollari, a dicembre 31, 2025, il valore di mercato dei titoli ETH dell'azienda era di circa 460,5 milioni di dollari.
Nel mese di dicembre 2025, l'azienda ha acquisito circa 366,8 ETH.
Il prezzo medio di acquisto ETH totale dell'azienda per tutti i titoli era di circa 3.045 dollari a dicembre 31, 2025.
Durante il mese, l'azienda ha impegnato ulteriori 642 ETH. Il totale degli ETH impegnati dell'azienda era di circa 138.263, ovvero circa l'89% dei suoi titoli ETH totali, a dicembre 31, 2025.

BlackRock Australia ha segnalato il proprio impegno a far crescere la propria gamma di fondi negoziati in borsa (ETF) attivi sotto il marchio iShares, con un nuovo prodotto 'orientato al reddito' che dovrebbe essere lanciato sulla Australian Securities Exchange (ASX) alla fine di questo mese.

L'iShares Credit Income Active ETF (ICME) mira a offrire agli investitori un reddito regolare e stabile mensile, con i vantaggi della liquidità giornaliera sulla ASX, con rendimenti attesi superiori al tasso di interesse della Reserve Bank of Australia (RBA). Il portafoglio del fondo offre esposizione a emittenti australiani con rating investment-grade in diversi settori, nonché opportunità in crediti subordinati (Tier 2) e senior. Il gestore ha confermato che ICME è stato progettato per 'complementare' l'esposizione esistente degli investitori a strategie di credito ad alto rischio e obbligazioni fisse.

Ethereum (ETH) is trading at $3,142, up 1.6% in the last 24 hours. This is because the second-largest cryptocurrency by market value hasEthereum ETH/USD is trading at $3,142, up 1.6% in the last 24 hours. This is because the second-largest cryptocurrency by market value has shown newfound resilience after breaking out of a multi-month declining trend. The breakout has broken the bearish pattern that has been in place since September. At the same time, institutional conviction through large-scale staking operations is still driving liquid supply out of the market.BitMine Crosses 1 Million Staked ETH Milestone
BitMine Immersion Technologies’ active staking activity is the most important thing that has helped Ethereum’s present pricing structure. On Saturday, the largest Ethereum treasury corporation by holdings added 86,400 ETH worth $266.3 million. This brought its total staked holdings to 1,080,512 ETH, which is worth around $3.33 billion. BitMine’s staked position earns about $94.4 million a year in ETH rewards at the current yield of 2.81%.This level of institutional staking shows that people are putting money into things for the long run, not just for the short term. Every staked ETH deposit takes coins out of active circulation, which lowers sell-side liquidity over time. The staking system encourages traders to be patient instead of trading based on price changes, which lets Ethereum absorb supply pressure without causing prices to rise right away. This supply compression generally comes before big price swings when demand drivers come back into the market.BitMine is still committed, even though the company’s stock price has dropped more than 80% from its all-time high of $161 per share in July 2025 to its current price of $30.06. Chairman Tom Lee has suggested raising the number of authorized shares from 50 million to 50 billion to make room for future stock splits. This shows that he has faith in the approach even though the market is volatile right now.ETH/USD Technical Breakout Confirmed as Momentum Shifts Bullish
From a technical point of view, Ethereum has clearly broken above its falling channel, setting a higher low at $2,767 and recovering the important $3,090 pivot mark. This stabilization of the structure is a big change from the negative pattern that was in place for most of the last few months of 2025. Price activity has, however, halted at $3,307, where supply keeps limiting attempts to go up. The next significant resistance zone is at $3,909.The Relative Strength Index (RSI) is currently close to 51, which is a notable break from the previous negative trend. This reading shows that the market is starting to rebound rather than stay stable, and the RSI staying above 50 shows that buyers are regaining control. Even if momentum is getting better, breaking through resistance with more volume is needed to confirm a long-term advanceMarket expert Michaël Van De Poppe said that the ETH-BTC ratio hit its lowest point in April 2025, about 0.017, which is similar to the pattern seen in 2019. In August, the ratio reached a local high of 0.043, but after the market-wide downturn in October, it fell back to its current level of 0.034. This cyclical behavior, together with the fact that people are saying “ETH is dead,” makes it look like the cryptocurrency might be ready for a big surge like it has had in the past.ETH Derivatives Market Signals Growing Volatility Risk
Funding rates have shot up 66.12% to 0.01275, which means that traders are taking long positions in perpetual futures markets. Traders are now spending a lot of more money to keep their bullish positions, but prices haven’t gone up as much as this leverage has. This difference between derivatives optimism and spot price action makes things very risky, and in the past, it has led to more volatility risk.Liquidation data shows that bearish positions are under more and more stress. There were $564.78K in short liquidations and only $241.53K in long liquidations. Binance lost $55.03K in short positions, and HTX lost $247.37K in bearish bets. Bears are taking a lot more damage even though prices aren’t moving much, which means the market is slowly developing a stronger base.The Binance ETH/USDT liquidation heatmap shows that there are a lot of liquidity clusters at $3,050–$3,100 below the current price and $3,150–$3,200 above it. During sessions with little volatility, these zones behave as magnetic levels. If the price breaks higher, there is less resistance because there is less liquidity above $3,225.Fundamental Catalysts Support Bullish Outlook
Ethereum’s basic ecology is still getting stronger, even though there are technical issues. In 2025, the supply of stablecoins on the network grew by more than 65%, bringing the entire market valuation to over $163.9 billion, which is more than twice what it was at its highest point in 2021. Ethereum handled around $8 trillion in stablecoin transfers in the fourth quarter of 2024 alone. This shows that it is the best place to settle digital dollar transactions.Ethereum Price Prediction: Compressed Spring Ready to Release
Ethereum seems to be forming a controlled base after breaking out of its channel. Technical and on-chain signs suggest that it is more likely to go up than down again. The combination of staking to reduce supply, better momentum indicators, and bearish positioning stress produces the right conditions for growth.If the price breaks through the $3,307 resistance level, it might start a buying spree that pushes the price up to the $3,909 goal. This could happen quickly enough to test the $4,000 barrier again. On the other hand, if the market doesn’t break through resistance, it could stay in the region of $3,050 to $3,200 as it consolidates its recent

L'avvertimento energetico di BlackRock
Nel suo Outlook Globale 2026, l'Istituto di Investimento di BlackRock ha affermato che i centri di elaborazione dati guidati dall'IA potrebbero consumare fino al 24% dell'elettricità negli Stati Uniti entro il 2030.

Quella previsione riporta l'attenzione degli investitori dai chip ai megawatt, sollevando una domanda diretta per i minatori di bitcoin il cui modello di business dipende dall'accesso a energia a basso costo, spesso interrotta. I minatori operano con flessibilità, le richieste dell'AI richiedono certezza
Il rapporto sostiene che lo sviluppo dell'IA sta raggiungendo i limiti fisici e ha evidenziato l'elettricità come il fattore che gli investitori stanno sottovalutando.

Walrus Foundation, the organization dedicated to the promotion and growth of the Walrus protocol, today announced a $140 million private token sale led by Standard Crypto, with participation from a16z crypto, Electric Capital, Creditcoin, Lvna Capital, Protagonist, Franklin Templeton Digital Assets, Karatage, RW3 Ventures, Comma3 Ventures, and The Raptor Group. Walrus Foundation intends to utilize the funding towards the expansion and maintenance of the decentralized data storage protocol and application development platform.In addition, we’re excited to announce that Walrus Mainnet will launch on March 27, unlocking new possibilities for how data can be stored and utilized with applications ranging from AI datasets, rich media files, websites, to blockchain history, furthering its mission of transforming storage into an interactive, programmable resource. With this latest funding, Walrus is poised to accelerate the adoption of programmable storage, driving innovation across industries that rely on secure, efficient, and interactive data management. For more information on Walrus tokenomics, visitOriginally developed by Mysten Labs, Walrus is a decentralized storage platform built on Sui that allows any application to publish, read, and program large data files. Applications on Walrus can manage onchain and offchain data files, referred to as blobs, via Move-based smart contracts, ensuring that data is supported for the entire storage lifecycle. Rebecca Simmonds, Managing Executive of Walrus Foundation stated, “This investment is a significant milestone to redefine decentralized storage. By leveraging Sui’s unique architecture, we’re making storing data programmable, interactive, and secure. Walrus is uniquely positioned to capitalize on this growing market and this funding will allow us to drive the adoption of programmable storage across industries as businesses search for flexible and verifiable data solutions.”Unlike traditional storage solutions, Walrus leverages its Sui integration to transform storage into a programmable resource, enabling dynamic data interactions, smart contract automation through Move, and new financial applications. Walrus’ decentralized platform enables true programmability that allows data to be dynamically managed, interacted with and modified. By integrating storage, availability, and compute, Walrus offers a seamless, cost-efficient, and scalable solution for modern data needs. ‍Adam Goldberg, Managing Director and Co-Founder at Standard Crypto, spoke about the recent investment stating, “Prior onchain storage attempts have struggled with scalability, flexibility, and security, limiting their adoption within a rapidly expanding set of use cases for both apps and infrastructure. We believe, with Walrus, we finally have an internet-scale and crypto-native storage platform designed for the coming era of data-heavy blockchain adoption. We've been backers of Mysten Labs since the very beginning and, inspired by their ability to transform research breakthroughs into breakout products, we're thrilled to deepen our partnership through a new investment in Walrus.”

Key Dates and Price History
Launch: The WAL token was launched in 2025, with its first trade recorded on April 29, 2025.
Funding: In March 2025, the Walrus project raised $140 million in a funding round led by Standard Crypto and a16z crypto.
All-Time High (ATH): WAL reached its peak price of approximately $0.76 on May 14, 2025.Binance Airdrop: On October 10, 2025, Binance announced WAL as the 50th project on their HODLer Airdrops program, which likely contributed to market activity and price fluctuations around that time.
All-Time Low (ATL): The token hit its lowest price of around $0.115 on December 29, 2025.
Recent Activity: The token's price has seen fluctuations based on factors like exchange campaigns, market liquidity, and broader crypto trendsToken Utility
The WAL token serves several functions within the Walrus ecosystem:
Payments: Users pay for decentralized data storage and retrieval services using WAL.
Staking & Security: Users can stake their WAL tokens to secure the network and support storage nodes, earning rewards in return.
Governance: WAL holders have the ability to vote on key decisions regarding the protocol's future and development.. Deflationary Model: The protocol includes mechanisms for token burning, which is designed to reduce the total supply over time and create deflationary pressure. don't know what happened but I fell back asleep and missed the bus.Background
Walrus Protocol addresses the need for secure, scalable, and cost-effective decentralized storage for large, unstructured data files (known as "blobs"). It is designed to support high-growth areas like AI model data, NFT media storage, and general dApp infrastructure.