Ethereum (ETH) — Onchain News & Whale Tracking

Perspective: Guard against misjudgments of Ethereum Foundation address ownership; incorrect wallet tagging may exacerbate market panic.

On-chain analyst Specter published a post stating that rumors of the Ethereum Foundation selling ETH have been swirling in the market recently, but the attribution of some related wallets lacks sufficient evidence. Taking a wallet marked as an address linked to the foundation as an example, Specter noted that while its early fund flows can be traced back to Ethereum Foundation-related addresses, it has gone through multiple transfers between independent entities in between. This wallet has participated in DeFi activities including BAT ICO, Compound, and Maker, with over 3,400 cumulative transactions, aligning more with the profile of an independent investor long involved in ICOs and DeFi. It cannot be deemed an Ethereum Foundation wallet solely based on early fund associations. Early ETH allocations may be payments to engineers or team members, or may involve private transactions or over-the-counter purchases by investors. The Ethereum Foundation disclosed in January 2016 that it conducted a private sale of ETH worth roughly $650,000 to individuals and enterprises, so the relevant funds may also stem from such transactions. Historical transaction links do not prove that two addresses are held or controlled by the same entity. Directly labeling all wallets that have had fund flows with foundation addresses as team wallets lacks sufficient basis, and could even spark unnecessary market panic. Reliable wallet attribution judgments should combine on-chain tracking with independent off-chain evidence.

Binance's Ethereum reserves drop to their lowest level since 2021.

CryptoQuant analyst Darkfost pointed out in a post that Binance’s Ethereum reserves have dropped to their lowest level since 2021. Currently, Binance holds an estimated 2.9 million ETH, marking a five-year low. The sharp decline in reserves suggests that as ETH prices continue to fall, many investors may be accumulating ETH on the dip, moving assets off exchanges for self-custody or to participate in yield-generating DeFi strategies, in anticipation of a more favorable market environment. This trend is also reflected in Binance’s Ethereum net flow data. Calculated using the 30-day moving average (30DMA), Binance’s ETH net flow has remained in negative territory for most of the recent period, indicating that outflows have consistently outpaced inflows. The sustained net outflow trend further reinforces the view that investors are accumulating ETH, but exchange asset outflows alone are not sufficient to confirm that investors are increasing their ETH holdings. In the long term, if exchange ETH reserves continue to decline, the amount of ETH available for immediate sale in the market may decrease. If demand picks up in the future, this could create a more favorable supply environment.

BitMine’s unrealized loss on its Ethereum holdings has expanded to $9.6 billion.

As Ethereum (ETH) dropped below $1,800, the unrealized loss on ETH holdings of BitMine (BMNR), the world’s largest Ethereum treasury firm, has widened further. As of November 8, BitMine held 6,070,092 ETH tokens. Per BitMineTracker estimates, its average cost basis for ETH holdings is approximately $3,352.58 per token, with a total cost of around $20.35 billion. Calculated at the current ETH price of $1,774, BitMine’s unrealized loss on its ETH holdings is roughly $9.6 billion, a decrease of about 47.09% from its cost basis.

Ethereum Foundation Dumps 2,500 $ETH ($4.6M) Amid Market Crash

The market is crashing, but the #EthereumFoundation is selling $ETH even faster! The #EthereumFoundation-linked wallet (0x5CBC) just dumped another 2,500 $ETH($4.6M).

The Ethereum Foundation has sold another 2,500 ETH, bringing its total sales over the past four days to 7,500 ETH.

According to OnchainLens monitoring, the Ethereum Foundation sold 7,500 ETH in just four days. It recently offloaded an additional 2,500 ETH via CoWSwap, worth approximately $4.71 million, in exchange for 4.597 million USDS. The total ETH sold over the four-day period amounts to 7,500, yielding roughly 14.52 million USDS, with the latest proceeds transferred to a multi-signature Safe wallet.

Early Bitcoin supporter Erik Voorhees appears to be bottom-fishing for Ethereum, buying 48,647 ETH over the past four days.

According to Lookonchain's monitoring, Erik Voorhees, an early Bitcoin supporter and founder of ShapeShift, appears to be buying the dip on Ethereum. Multiple wallets linked to Voorhees spent $97 million over the past four days to acquire 48,647 ETH at an average price of $1,994. These wallets still hold $78.68 million in stablecoins, indicating they may continue purchasing.

BIT-related entities hold a total of $155 million in long positions of Bitcoin (BTC) and Ethereum (ETH), with an unrealized loss of $44.06 million at present.

According to monitoring by Ai Yi, the "Iron Head Bulls" (a BIT-affiliated entity) that previously took a large long position of 120,000 ETH has recently activated a batch of new addresses to re-establish long positions. The nine addresses currently hold a combined long position valued at roughly $155 million, comprising 60,841.22 ETH and 600 BTC, with an unrealized loss of approximately $44.06 million—excluding substantial funding fee expenses. All of the entity’s previously used operating addresses have been deactivated, per reports. Between April and August this year, it amassed over $67.05 million in profits from ETH long trades. The move to reactivate new addresses to build large-scale long positions signals that some of its earlier accumulated profits may now face pressure of being eroded.

Ethereum Foundation-linked wallet dumps 1,000 $ETH ($1.9M), 5,000 $ETH sold in 5 days

The #EthereumFoundation-linked wallet (0x5CBC) dumped another 1,000 $ETH($1.9M) an hour ago. Over the past 5 days, this wallet has sold 5,000 $ETH ($9.92M) at an average price of $1,983.5.

An address associated with the Ethereum Foundation has once again sold off 1,000 ETH.

According to monitoring by AI Yi, Ethereum Foundation-associated addresses have sold another 1,000 ETH. Since October 26, cumulative on-chain ETH sales have reached 7,785 tokens, totaling $16.35 million at an average selling price of $2,100. A remaining 10,000 ETH is still on-chain, valued at approximately $19.03 million.

Ethereum briefly fell below $1,900.

According to HTX market data, Ethereum briefly fell below $1900, currently trading at $1904.73, with a 4.70% drop in the past 24 hours.

Bitcoin and Ethereum ETFs See Massive Outflows: $BTC -$308.81M, $ETH -$64.95M in 24 Hours

Nov 13 Update: #Bitcoin ETFs: 1D NetFlow: -4,423 $BTC(-$308.81M)?? 7D NetFlow: -19,045 $BTC(-$1.33B)?? #Ethereum ETFs: 1D NetFlow: -32,917 $ETH(-$64.95M)?? 7D NetFlow: -218,001 $ETH(-$430.15M)??

Security Alert: Pennysia’s Ethereum Settlement Contract Has Been Exploited; Users Who Previously Granted Authorization Must Revoke Their Authorization Immediately.

SlowMist issues a security alert, stating that after receiving user reports of fund theft, an investigation found that the Settlement contract of the Pennysia protocol deployed on Ethereum was exploited due to an arbitrary external call vulnerability. Attackers can use users' remaining token allowances to siphon funds. SlowMist reminds all users who have authorized tokens to this Settlement contract to revoke authorizations immediately. The contract address is 0x3aad97e5a91b8e43b7dc830aceb004307678795e, and the attacker's address is 0x813a5ab666adeba907548235fbac087642878300. On-chain data shows the related attack transaction occurred at 21:59 on November 12, with the attacker transferring out 5,006.133489 USDC, 0.05 wstETH, and 101,000 YUNO.

Ethereum Foundation-linked addresses offloaded another 2,000 ETH, valued at $3.868 million.

On-chain analyst Ai Yi (@ai_9684xtpa) monitored that as ETH dropped below $2,000, an address linked to the Ethereum Foundation (0x5CB…22059) offloaded another 2,000 ETH, worth $3.868 million. Since October 26, this address has sold a total of 6,785 ETH on-chain, totaling $14.45 million; the address still holds 21,247 ETH, valued at approximately $41.1 million.

Ethereum Foundation-linked wallet dumps 2,000 ETH ($3.87M), marking 4th major sale amid price declines

The #EthereumFoundation-linked wallet (0x5CBC) just dumped another 2,000 $ETH($3.87M)! Every time #EthereumFoundation-linked wallets dump $ETH, the price drops. Oct 12: $ETH down 9%. Oct 26: $ETH down 7.7%. Nov 10: $ETH down 10.4%. Today marks the 4th sale. How much further

Bitcoin and Ethereum ETFs See $1.8B in Outflows Over Past Week

Nov 12 Update: #Bitcoin ETFs: 1D NetFlow: -3,621 $BTC(-$262.8M)?? 7D NetFlow: -19,453 $BTC(-$1.41B)?? #Ethereum ETFs: 1D NetFlow: -66,020 $ETH(-$132.41M)?? 7D NetFlow: -210,673 $ETH(-$422.51M)??

Ethereum falls below $2,000

According to HTX market data, Ethereum has dropped below $2,000.

Yesterday, US spot Bitcoin ETFs recorded a net outflow of $299.8 million, while US spot Ethereum ETFs saw a net outflow of $144.8 million.

According to Farside's monitoring, U.S. spot Bitcoin ETFs posted a total net outflow of $299.8 million yesterday. Among them, IBIT saw a net outflow of $269.7 million, GBTC a net outflow of $39.1 million; MSBT recorded a net inflow of $9 million, while the remaining funds had zero net flow. Separately, U.S. spot Ethereum ETFs totaled a net outflow of $144.8 million yesterday. Breakdown: ETHA had a net outflow of $129.8 million, ETHB $5.3 million, ETHW $4.8 million, FETH $4.1 million, EZET $0.8 million; the rest of the funds registered zero net flow.

Ethereum community proposes an upgrade to the eth/73 protocol to support the propagation of raw signature witness data.

Ethereum developer Marchhill has submitted a draft for EIP-8437, which proposes propagating Proof Wrapper data via the eth/73 protocol and adding an optional mode that allows transactions to submit original signatures to aggregators without pre-generating STARK proofs. The proposal supports propagating certified program packages directly alongside transactions, and conducting independent checks of specified programs in resource-constrained sandboxes to verify witness data, eliminating the need to develop native adapters for each individual signature scheme. Additionally, the proposal plans to limit batch queue size, clear expired transactions, and recheck records before formal proof generation to enable failure retries. Currently, the proposal remains in the Draft stage and has not been merged. Developers note that VM and key binding consistency verification, cryptographic verification, and performance tests are still incomplete, and no benchmark tests have been conducted.

Bitcoin and Ethereum ETFs See $1.41B in Outflows Over Past Week

Nov 11 Update: #Bitcoin ETFs: 1D NetFlow: -1,649 $BTC(-$121.78M)?? 7D NetFlow: -15,624 $BTC(-$1.15B)?? #Ethereum ETFs: 1D NetFlow: -11,512 $ETH(-$23.65M)?? 7D NetFlow: -127,828 $ETH(-$262.66M)??

CoinShares: Average crypto allocation among digital asset funds rises to 1.3%, with Bitcoin and Ethereum remaining core positions.

CoinShares has released its October digital asset fund manager survey. This round featured 28 investors, representing approximately $642 billion in assets under management (AUM). The average allocation to crypto assets in respondents' portfolios rose to 1.3% from 1.2% in July. Funds are increasingly shifting from stocks and bonds to alternative assets such as commodities and crypto, rather than cash. The largest allocators remain groups with more flexible mandates, including family offices and individual investors. Regarding investment motivations, portfolio diversification climbed to 40% as the top reason, a trend that has persisted since the survey’s launch in 2021. Speculation has fallen to fifth place, accounting for less than 9% of responses. More respondents now view crypto as having allocation value, while replies citing client demand as an investment driver have dropped significantly. In holdings-related responses, Bitcoin and Ethereum remain core positions, together making up 47% of allocations. Bitcoin still holds a substantial lead in growth outlook assessments, while the outlooks for Ethereum and Solana have improved slightly. Respondents are shifting from established altcoins outside Ethereum to newer tokens, with Sui, NEAR, Aave, Hyperliquid, Uniswap, and Chainlink being frequently mentioned.

A whale that acquired 1 million ETH during Ethereum's 2015 ICO bought an additional 1,451 ETH in the last half hour, worth approximately $3 million.

According to monitoring by ai_9684xtpa, an early crypto whale that subscribed to 1 million ETH via ICO in 2015 has purchased 1,451.32 ETH through 1inch over the past 30 minutes at an average price of $2,064.37, worth approximately $2.996 million. This marks the whale adding to its position again after a five-day interval. Over the past week, the address has accumulated a total of 3,672 ETH, bringing its on-chain holdings to more than 210,000 ETH, valued at around $487 million at current market prices.

Ethereum Foundation-linked wallet dumps 1,000 $ETH ($2.03M)

The #EthereumFoundation-linked wallet (0x5CBC) dumped another 1,000 $ETH($2.03M) 9 hours ago.

A wallet linked to the Ethereum Foundation sold another 1,000 ETH approximately 9 hours ago, worth around $2.03 million.

According to Lookonchain monitoring, a wallet associated with the Ethereum Foundation (0x5CBC) sold another 1,000 ETH 9 hours ago, valued at approximately $2.03 million.

Bitcoin and Ethereum ETFs See $1.4B Outflows in Past Week

Nov 10 Update: #Bitcoin ETFs: 1D NetFlow: -3,081 $BTC(-$228.74M)?? 7D NetFlow: -14,833 $BTC(-$1.1B)?? #Ethereum ETFs: 1D NetFlow: -65,908 $ETH(-$137.92M)?? 7D NetFlow: -150,813 $ETH(-$315.6M)??

Ethereum fell below $2,100, down 1.85% on the day.

According to HTX market data, Ethereum has dropped below $2100, currently priced at $2095, with an intraday decline of 1.85%.

An Ethereum address dormant for 11 years was hit by a hacker's "poisoning attack" just three minutes after it came back online.

A wallet address starting with 0x7dD, traceable to Ethereum’s 2015 genesis block, made its first external transfer of 0.05 ETH (worth ~$106) at 6:04 AM Beijing Time on the 10th. The test receiving address starts with 0x1321beb8 and ends with 1A44. This address received its first ETH in the July 2015 genesis block and another 755 ETH in March 2016, with no external transfers made prior to this transaction. On-chain monitoring account Whale Alert flagged the test transfer. Within roughly three minutes of the test transfer being sent, the old wallet received multiple small ETH deposits from two addresses mimicking the target receiving address: one starting with 0x13211f, the other with 0x1321FB, both ending in 1A44. Etherscan data shows the accounts funding these two addresses are labeled “Fake_Phishing”, with the more active one sending 43 dust transfers. This tactic, called address poisoning, involves attackers inserting nearly identical addresses into target transaction records, tricking holders into copying the wrong address from recent logs and transferring large sums. At 6:20 AM Beijing Time, the new address sent 0.01 ETH, with nearly all of it returned about three minutes later. Then at 6:42 AM Beijing Time—roughly 38 minutes after the initial test transfer—the old wallet transferred 2,154.94 ETH (valued at ~$4.6 million) to the correct 0x1321beb8 address. The new address currently holds around 2,155 ETH. In January this year, Citigroup warned that address poisoning spam transactions had inflated Ethereum’s network transaction count, with many transfers worth less than $1.

Yesterday, U.S. spot Bitcoin ETFs posted net outflows of $201 million, while U.S. spot Ethereum ETFs recorded net outflows of $184.6 million.

According to Farside data, U.S. spot Bitcoin ETFs registered a total net outflow of $201 million yesterday. Of this, IBIT saw a net outflow of $213.2 million, ARKB posted a net outflow of $9.9 million, and MSBT recorded a net inflow of $22.1 million; FBTC, BITB, BTCO, EZBC, BRRR, HODL, BTCW, GBTC, and BTC had no capital inflows or outflows. U.S. spot Ethereum ETFs posted a total net outflow of $184.6 million yesterday. The breakdown shows: ETHA had a net outflow of $119.3 million, ETHB saw a net outflow of $20.8 million, FETH recorded a net outflow of $19.1 million, ETH posted a net outflow of $25 million, and TETH had a net outflow of $2 million; MSSE registered a net inflow of $1.6 million, while ETHW, ETHV, QETH, EZET, and ETHE had no capital movements.

Tether has frozen five Ethereum addresses involving approximately 24.35 million USDT.

Per MistTrack monitoring, Tether froze 5 Ethereum addresses approximately 8 hours ago. These addresses, which were active in 2021 and 2023, hold a total of around $24.35 million in USDT. MistTrack noted that one of the frozen addresses had interacted with addresses it labeled as "phishing" and "pig butchering" scams. The 5 addresses involved in the freeze are: 0x25660042d9019fa2114c6c86fc3fd45134671028, 0xa04b55eae185f7e17806faaa5154fe53b9937b75, 0xc01144d85302139f761cbd710314215d93d296bf, 0x5b0f739a26b002cf414cc855ec9a7ae4a918ea44, 0xb28593f308d3126ae75ba2abcca6356f6607aed0

Ethereum Foundation Wallet Resumes $ETH Sales, Offloads 1,000 $ETH ($2.13M)

After a 2-week break, the #EthereumFoundation-linked wallet sold 1,000 $ETH ($2.13M) again an hour ago. $ETH has dropped another 7.7% since its last sale 2 weeks ago.

The Ethereum Foundation sells 1,000 ETH again after 14 days.

On-chain analyst Ai Yi (@ai_9684xtpa) monitors that the Ethereum Foundation has offloaded 1000 ETH again after a 14-day gap, worth $2.13 million. During its prior sell-off of 2785 ETH on Oct. 26, the token price stood at $2306, while this time it has dropped to $2131.15; the address currently holds over 24,000 ETH on-chain, valued at approximately $51.46 million.

An Ethereum ICO-era whale transferred its entire holdings after lying dormant for 10 years.

According to Lookonchain’s monitoring, an Ethereum OG wallet that had lain dormant for over 10 years has reactivated, transferring all 2,155 ETH (worth $4.59 million) two hours ago. The wallet owner purchased 1,400 ETH during the ICO era at just $0.31 per token, totaling $434, and later withdrew another 755 ETH from Bitfinex when ETH’s price stood at $11.74.

Ethereum ICO Whale Wakes After 10 Years, Moves 2,155 $ETH ($4.59M) Bought at $0.31

An Ethereum OG wallet woke up after over 10 years of inactivity and moved all 2,155 $ETH ($4.59M) 2 hours ago! The OG bought 1,400 $ETH during the ICO at just $0.31 each ($434 total) and later withdrew another 755 $ETH from #Bitfinex when $ETH was trading at $11.74.

Vitalik Buterin is embroiled in a legal dispute tied to the Ethereum Foundation, whose internal documents contained offensive jokes including references to seppuku. A cancer-stricken employee who led a boycott against the foundation was fired and subsequently filed a lawsuit.

The Ethereum Foundation distributed its organizational mission and direction document "EF Mandate" to employees in February this year. Page 11 of the document features the "Source Seppuku License", a section presented as an anime-style illustration with a winking character, yellow cat, and other elements. The text in this section implies that authors, maintainers, editors, or distributors who fail to uphold open source commitments or modify the license must "take their own life with a sword". The content drew strong opposition from some staff, with around 79 employees voting to remove the relevant text. Foundation management clarified that the line was not literal, and updated a commitment document to note it was "unrelated to literal seppuku". Even so, the version released on March 13 still retained the content, which was subsequently written to the Ethereum blockchain. Employee Fulton and colleagues organized a joint letter signed by 53 members of the Protocol cluster, stating they supported the foundation’s direction but rejected the mandatory commitment terms. Later, on March 24, Fulton notified management in writing of her ovarian cancer diagnosis, and was fired roughly 13 days later (another joint letter organizer, Trent Van Epps, was also dismissed the same day). Fulton has since filed a lawsuit in Colorado, accusing the Ethereum Foundation, Vitalik, and other executives of retaliatory termination, disability discrimination, and interference with medical leave.

Bitcoin's gains underperformed US stock market indices, with $4.34 million in liquidations from flash contracts over the past hour, surpassing Ethereum's liquidation volume over the same period.

According to Coinglass data, global crypto liquidations totaled $25.41 million in the past hour, with long-position liquidations at $3.34 million and short-position liquidations at $22.07 million. Notably, as of press time, the U.S. Dow Jones Industrial Average rose 1.68%, S&P 500 gained 1.92%, and Nasdaq 100 climbed 2.71%. Yet after U.S. stock markets opened, Bitcoin only increased by 1%, causing most short liquidations to hit U.S. stock-linked contracts, including those for Sandisk ($4.34 million) and SOXL ($2.53 million + $0.92 million).

Bitcoin ETFs See $467.81M Outflow in 24hrs, Ethereum ETFs Down $88.25M

Nov 9 Update: #Bitcoin ETFs: 1D NetFlow: -6,270 $BTC(-$467.81M)?? 7D NetFlow: -17,694 $BTC(-$1.32B)?? #Ethereum ETFs: 1D NetFlow: -41,644 $ETH(-$88.25M)?? 7D NetFlow: -171,494 $ETH(-$363.43M)??

Tom Lee: Vitalik’s announcement that ETH is a store of value is an "earth-shattering shift" and the positioning that best aligns with Ethereum’s roadmap.

Bitmine Chairman Thomas "Tom" Lee stated that Ethereum founder Vitalik Buterin’s announcement at Devcon 8 in Mumbai that “ETH is a store of value, ETH is money” represents a seismic shift, clarifying how ETH will capture value in the upcoming tokenization and AI supercycle. Lee added: “Unlike 'cash flow' token models such as HYPE or LIT, ETH is a pure, trusted collateral, reflecting Ethereum’s position as the Layer 1 of choice for most financial institutions when moving assets to the blockchain. In other words, ETH as a store of value aligns best with its future roadmap and the role it will play in the upcoming tokenization supercycle.”

Zama’s spin-off project Raycash has launched on Ethereum mainnet, providing privacy-focused stablecoin payment and yield features.

Stablecoin payments startup Raycash, spun off from privacy protocol Zama, has launched on the Ethereum mainnet and is currently in private beta. Raycash states that over 75,000 people joined its waitlist ahead of the launch; access will be rolled out in batches during private testing, with full public access to follow. Built on the Zama protocol, Raycash uses fully homomorphic encryption (FHE) to encrypt on-chain balances and transaction amounts. Users can wrap stablecoins 1:1 into tokens compliant with the ERC-7984 confidential token standard for payments and receipts, and earn yields via Morpho, with transaction amounts and balances kept private. The underlying stablecoins can be retrieved via permissionless unwrapping. The app initially supports USDC, allowing deposits via bank transfers, debit cards or stablecoins, and withdrawals to bank accounts. Ethereum gas fees are handled by the platform in the background, so users do not need to hold ETH. Raycash adds that its wallet is non-custodial; confidential tokens have no built-in freeze or seizure functionality at the token level, and users can grant view permissions to specific parties like accountants or auditors. Additionally, a Raycard for privacy-focused spending is in development.

Ankr’s Ethereum cross-chain bridge has been exploited, resulting in losses of approximately $292,000.

According to Blockaid’s monitoring, Ankr’s Ethereum cross-chain bridge is under attack, with approximately $292,000 in losses incurred so far, and the attack is still ongoing. The attacker initiated 5 withdrawal calls to the cross-chain bridge on Ethereum, exploiting a small deposit on Optimism to unlock all assets locked in the bridge and transfer them to a newly created address.

Binance Alpha has resumed withdrawals on four networks: BSC, Ethereum, Base, and Arbitrum.

Binance Alpha has resumed withdrawals for four networks: BSC, Ethereum, Base, and Arbitrum. Previously, it had already restored multiple tokens on the Ethereum (ETH) and Solana (SOL) networks, as well as HYPE and APT. Binance stated that it will continue to restore more assets and networks in phases, and will provide further updates via official channels once relevant security checks are completed.

Founder of Ethereum News Weekly: Layer 1 (L1) project Pearl is poised to outperform Bitcoin.

Evan Van Ness, founder of Ethereum News Weekly, said in a recent interview that he believes Pearl, a Layer 1 (L1) project based on useful proof-of-work (PoW), has the potential to surpass Bitcoin. Van Ness added that Pearl uses matrix multiplication for mining—computation identical to that used in AI model training and inference—allowing it to run in parallel with inference with almost zero additional overhead. He pointed out that Bitcoin faces issues including premature ossification and security budget problems, while Pearl converts the originally "useless" mining process into useful computation, creating a flywheel effect that lowers inference costs.

Ethereum's smart money has made another dip-buy move, purchasing 10,000 ETH this morning, after accurately timing a dip buy in August.

According to Yu Jing Monitoring, a ETH swing whale sold off its holdings after Ethereum’s sharp rally in August, and has now repurchased 10,000 ETH (valued at $21.55 million) following today’s ETH price drop. On August 21, ETH surged more than 20% in a day and a half, when the whale sold 13,202 ETH it had bought in May at $2,250 per token, fetching $2,357 each and netting a profit of $1.41 million. After this morning’s price slump, the whale spent 21.55 million USDT to buy back 10,000 ETH 20 minutes ago at a unit price of $2,155.

Ethereum EIP-8488 Draft: Implements "Old-New Cutoff" for Gas Pricing, Introduces Versioned Opcodes

The Ethereum community has recently submitted a draft Ethereum Improvement Proposal (EIP) 8488, titled "Versioned Opcodes for Gas Repricing". The proposal’s core idea is to introduce a parallel set of V2 opcodes, whose gas costs will follow new pricing standards outlined in EIP-8037 and EIP-8038. The draft stipulates that after network activation, newly deployed contracts can only include V2 opcodes, with their version number written during verification. The new cross-contract call instruction requires the target contract to also be a V2 version; otherwise, the call will fail. To completely separate new and old rules, the V2 opcode set has removed instructions like GAS and GASLIMIT that expose internal gas metrics, preventing new contracts from hardcoding old gas consumption logic. All existing legacy contracts will continue to operate under the old gas schedule indefinitely. The motivation behind the draft is to resolve a contradiction facing the current upgrade: directly rolling out the new gas rules in full would heavily impact existing contracts that rely on old gas invariants, while delaying or scrapping the new rules would delay EIPs designed to control state growth and significantly raise the gas limit. EIP-8488 offers a third path: new bytecodes use the new pricing, old contracts remain unaffected, and upgradable systems will migrate naturally when replacing implementations. As the share of V2 executions rises and state growth becomes manageable in the future, Ethereum’s gas limit can be gradually increased. The proposal’s authors stated that the underlying structure of deployed contracts should not be altered due to post-hoc gas price adjustments. To decouple pricing from application functionality, new contracts should not hardcode internal gas pricing into their logic. Currently, the proposal is in an early draft stage.

Ma Ji sold 3 Bored Ape Yacht Club (BAYC) NFTs to raise funds for continued long positions in Ethereum (ETH), with the position valued at approximately $1.479 million.

According to monitoring by EmberCN, "Big Brother Maki" (Huang Lihcheng) sold 3 BAYC NFTs to raise 17.2 ETH (around $36,800) after his long ETH position was liquidated again. He then withdrew 100 ETH (approximately $213,000) from Coinbase. After adding funds, he opened a long position of around 690 ETH with 25x leverage, with the position valued at roughly $1.479 million.

A hacker went long on Bitcoin (BTC) worth $12.84 million using 20x leverage, while shorting Ethereum (ETH) worth $12.83 million.

According to Lookonchain’s monitoring, a hacker is going long on Bitcoin (BTC) and short on Ethereum (ETH). The hacker created a new wallet to receive 3,100 ETH via Tornado Cash, then sold the ETH to obtain 6.92 million USDC and deposited the funds into Hyperliquid. The wallet subsequently opened a 169.47 BTC long position with 20x leverage, valued at approximately $12.84 million, alongside a 5,740 ETH short position with the same leverage, worth around $12.83 million.

Viewpoint: Bitcoin’s technical support level stands at $73,000, while Ethereum shows signs of a breakdown.

Crypto analyst Ali Charts noted in a post that Bitcoin’s 3-day K-line chart shows it has been trading within an oscillating range of $87,000 to $60,000 over the past year, with $73,000 as the median line of this range. If this key level is broken, the channel’s lower boundary at around $60,000 will become a notable area to monitor. In contrast, Ethereum appears to have broken out of its right-angled ascending expansion pattern on the daily chart. Having lost the $2,385 support level, if selling pressure persists, this pattern signals a potential downside target of $1,963.

Undeterred by repeated setbacks, 'Maji' sells BAYC to go long on Ethereum, posting an unrealized loss of $32,000

According to monitoring by TradingBeats, "Big Brother Maki" Huang Licheng was liquidated again yesterday. Over the past five days, the $223,000 he raised by selling 15 NFTs at a loss of $505,000 was quickly wiped out again. Today, he sold Bored Ape Yacht Club (BAYC) #32 on OpenSea for 12.5 ETH, totaling around $28,000. He is currently holding a 25x long position of 540 ETH, with an entry price of $2,304.23, liquidation price of $2,203.40, and an unrealized loss of $32,000.

Bitcoin and Ethereum ETFs See Massive Outflows: $1.47B BTC, $391.22M ETH in 7 Days

Nov 6 Update: #Bitcoin ETFs: 1D NetFlow: -4,832 $BTC(-$366.66M)?? 7D NetFlow: -19,343 $BTC(-$1.47B)?? #Ethereum ETFs: 1D NetFlow: -25,590 $ETH(-$57.31M)?? 7D NetFlow: -174,687 $ETH(-$391.22M)??

A new address heavily holding Ethereum (ETH) has added another 3,500 ETH to its holdings.

According to on-chain data analyst @ai_9684xtpa, a new address heavily invested in Ethereum (ETH) added $7.77 million to its positions again, having accumulated over $22.53 million worth of ETH in the past week. Three hours ago, the address withdrew 3,500 ETH from Binance, lowering the average entry price of its total holdings of 9,777.4 ETH to $2,305.05, with an unrealized loss of $641,000 as of now.

Ethereum Foundation calls for self-audit of Glamsterdam’s eight invariants, Hoodi fork remains delayed.

Per the Ethereum Foundation blog, researcher Marius van der Wijden’s post notes that Chainsecurity recently found some projects rely on specific invariants, which will be broken by EIP-8037 and EIP-8038 in the upcoming Glamsterdam upgrade. The two proposals restructure gas pricing for operations and states. Based on these findings, the Ethereum Core Developers (ACD) has decided to delay the hard fork process and will not execute the fork on the Hoodi testnet until the issue is resolved. The post adds that while the Foundation is collaborating with multiple audit firms and conducting internal audits, it cannot cover all on-chain projects and their off-chain code. To address this, the Foundation is publicly calling on contract developers, auditors, and others to self-audit their projects against the eight invariants set to be broken. The Foundation has also released a related repository containing invariant explanations, examples, and self-check prompts.

Yesterday, U.S. spot Bitcoin ETFs posted net outflows of $430.2 million, while Ethereum ETFs saw net outflows of $99.9 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs posted a net outflow of $430.2 million yesterday, while U.S. Ethereum ETFs recorded a net outflow of $99.9 million.