Cold data doesn't lie, today we're focusing on Ethereum.
BTC 62582, 24h +0.45%, 7d -4.41%
ETH 1664, 24h +1.00%, 7d -6.70%
ETH/BTC exchange rate 0.0266, continuing to weaken.
The Ethereum Foundation's holdings have dropped to a near 6-year low—only $209 million left. Compared to over $1 billion at the peak in 2021, that's nearly an 80% shrinkage. The foundation has laid off 20%, or 54 people, and slashed the annual budget by 40%. Vitalik plans to only spend 5% of the remaining funds annually after 2030, down from the current 15%. Based on the current $209 million holdings, 15% is $31.35 million/year, while 5% is only $10.45 million/year. A foundation managing a $200 billion market cap ecosystem has an annual budget just over $10 million.
ETH spot ETFs have seen net outflows for 4 consecutive days, with yesterday alone losing $82.35 million. It's not retail investors fleeing; it's institutions pulling out.
Wintermute has set a short-term target of $59,000 for BTC. If BTC hits 59K, with the current ETH/BTC rate of 0.0266, ETH would likely drop to around $1570—leaving about 5.6% downside potential from here.
In a nutshell: Ethereum is undergoing structural contraction—foundation downsizing, ETF capital outflows, and lagging behind BTC in price. This isn't just short-term volatility; it's a trend.
#链上数据 #ETH
BTC 62582, 24h +0.45%, 7d -4.41%
ETH 1664, 24h +1.00%, 7d -6.70%
ETH/BTC exchange rate 0.0266, continuing to weaken.
The Ethereum Foundation's holdings have dropped to a near 6-year low—only $209 million left. Compared to over $1 billion at the peak in 2021, that's nearly an 80% shrinkage. The foundation has laid off 20%, or 54 people, and slashed the annual budget by 40%. Vitalik plans to only spend 5% of the remaining funds annually after 2030, down from the current 15%. Based on the current $209 million holdings, 15% is $31.35 million/year, while 5% is only $10.45 million/year. A foundation managing a $200 billion market cap ecosystem has an annual budget just over $10 million.
ETH spot ETFs have seen net outflows for 4 consecutive days, with yesterday alone losing $82.35 million. It's not retail investors fleeing; it's institutions pulling out.
Wintermute has set a short-term target of $59,000 for BTC. If BTC hits 59K, with the current ETH/BTC rate of 0.0266, ETH would likely drop to around $1570—leaving about 5.6% downside potential from here.
In a nutshell: Ethereum is undergoing structural contraction—foundation downsizing, ETF capital outflows, and lagging behind BTC in price. This isn't just short-term volatility; it's a trend.
#链上数据 #ETH