Bitcoin Dominance Drops Below 60%, Altseason May Be on the Horizon

Wallets 0x436F and 0x2DDf (likely belonging to the same whale) have accumulated 103.14M $INSP($3.02M), 10.31% of the total supply. This whale holds a total of $74.8M in assets.

On August 9th, according to the data from the Validator Queue Tracking website validatorqueue, the current exit queue of the Ethereum PoS network is temporarily reported to be 479.3K ETH, with a recent peak of 744K ETH. Based on the current price, the ETH exiting the PoS network is approximately $20.13 billion, and the withdrawal delay is currently reported as 8 days and 8 hours. Meanwhile, the staking demand for new validators has experienced a sharp decline. On July 17th, there were 435K ETH queued to enter the network, but today the admission queue has dropped to 22K ETH, worth about $0.92 billion, with a current queueing time of 9 hours.

On August 9th, according to the monitoring of LookOnChain, the suspected SharpLink Gaming-related address withdrew 17,655 ETH from the exchange platform again within the past 18 hours. The value of this withdrawal is approximately $72.7 million. Moreover, the whale address 0x3684 spent $34 million to purchase 8,109 ETH at a price of $4,193 per ETH.

On August 9th, based on LookOnChain's monitoring, the early Bitcoin evangelist and ShapeShift founder, Erik Voorhees, sold 6,581 ETH today at a price of $4,161, with a value of $27.38 million. Nine years ago, he acquired 14,945 ETH from ShapeShift (valued at $11,560 at that time and now worth $62.68 million), when the price of ETH was only $7.74. His last ETH sale was on December 6, 2024, when he sold 7,807 ETH at a price of $4,005 each ($31.27 million). He still holds 556.68 ETH ($2.33 million).

On August 9th, based on Arkham data, the on-chain assets of Vitalik Buterin, a co-founder of Ethereum, have exceeded $1 billion and currently amount to $1.02 billion. His main holdings consist of 240,000 ETH, 2906 AETHWETH, 300 billion MOODENG tokens, etc.

On August 9th, it was reported that during an interview, the Chief Financial Officer of Block Inc (XYZ), which is a payment platform owned by Twitter co-founder Jack Dorsey, stated that the company will introduce a new Bitcoin mining chip next week. This chip is intended to enhance the decentralized Bitcoin mining ecosystem. A few months ago, Block disclosed that it had completed the development of a 3-nanometer Bitcoin mining chip. In addition, Jack Dorsey posted on the X platform with the caption "Next Week" along with an image of mining tools, suggesting that a new product will be launched on August 14th.