Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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September 3, 2025

The Ethereum staking entry queue has surged to its highest level in nearly two years, reaching 860,369 ETH, worth approximately $3.7 billion, on Tuesday.

It marks the longest wait time since the Shanghai upgrade in 2023, which allowed for withdrawals and briefly triggered large-scale validator exits.

Institutional Influx Drives Renewed Confidence in Ethereum Staking: Everstake

According to staking protocol Everstake, the sudden rise reflects renewed confidence in Ethereum’s long-term potential and an influx of institutional capital.

“We haven’t seen queues of this size since 2023. It’s a strong signal that more people trust Ethereum and want to participate in securing it,” the firm noted.

The combination of rising Ether prices, currently hovering around $4,321, and relatively low gas fees has made staking more attractive to both retail users and corporate treasuries.

The increased staking activity also helps calm recent concerns about mass exits, which spiked when the staking exit queue briefly topped 1 million ETH on Aug. 29 before falling back by 20%.

Ethereum currently has 35.7 million ETH locked in staking contracts—around 31% of the total supply, according to Ultrasound.Money.

Notably, corporate treasury funds now hold 4.7 million ETH, worth over $20 billion, with the majority earmarked for staking.

StrategicEtherReserve data shows more than 70 treasury participants have already begun deploying long-term staking strategies.

The convergence of market conditions, price levels, and institutional involvement has pushed the staking entry and exit queues closer to balance for the first time since July.

That equilibrium suggests a healthier staking environment and growing demand for yield generation on Ethereum’s base layer.

While ETH has slipped 12.4% from its Aug. 24 all-time high, long-term holders appear to be undeterred. Instead of exiting, many are doubling down, waiting in line to earn yield on-chain.

Joseph Lubin Predicts 100x ETH Surge

Ethereum co-founder Joseph Lubin believes ETH could rally 100x or more over time, calling it Wall Street’s future infrastructure as TradFi shifts toward decentralized finance.

In an X post, Lubin said Ethereum will replace many siloed systems at institutions like JPMorgan and become the backbone for financial services, staking, and smart contract execution.

Backing the bullish stance of Fundstrat’s Tom Lee, Lubin stated he’s “100% aligned” with Lee’s view that Ethereum could flip Bitcoin in network value.

He compared the moment to 1971 when the U.S. dollar left the gold standard, signaling a tectonic shift in financial architecture led by Ethereum.

Lubin emphasized that ETH represents a new kind of virtual commodity — “decentralized trust” — that institutions will be forced to adopt.

He sees Ethereum’s decentralized rails powering everything from traditional finance operations to smart contract-based agreements, with massive upside as adoption scales globally.

Likewise, Lee has predicted that Ethereum will rally in the near term to $5,500, with an ambitious year-end target of $12,000.

During his August 26 guest appearance on the Amitis Investing program, Lee disclosed that institutional Wall Street sentiment toward Ethereum has shifted dramatically following the U.S. Senate’s passage of the GENIUS Stablecoin legislation.

Lee emphasized that Ethereum is the foundational blockchain infrastructure for traditional finance (TradFi), currently supporting over $145 billion in stablecoin supply.

Ether (ETH) jumped to $4,200 on Binance early Saturday, its highest since December 2021, after a two-day rally fueled by heavy trading and $207 million in short liquidations.

The move followed Friday’s breakout above $4,000 for the first time since December 2024, a technical milestone that drew in fresh buying and set the stage for Saturday’s push higher.

Miles Deutscher said these forced buybacks helped accelerate the rally. In an earlier post, he described an “on-chain wealth effect”: as ETH’s price rises, both large holders and retail investors see their positions turn profitable, prompting them to reallocate capital into smaller, higher-risk tokens in pursuit of bigger gains. This dynamic, he said, can amplify rallies beyond ETH itself.

Deutscher also mapped out a three-stage market rotation he expects could take months to unfold: an ETH-led mini altcoin season, a rotation into bitcoin that could lift BTC toward $120,000–$140,000 while altcoins lag, and finally a shift back into ETH and smaller tokens for a potential “blowoff” rally marking the cycle’s peak.

Crypto analyst Michaël van de Poppe called Saturday’s push to $4,200 a “wild move” and warned that buying at such elevated levels carried greater risk. While he sees ETH setting up for a breakout toward all-time highs, he argued that allocating capital to projects within the ETH ecosystem might deliver better percentage returns if momentum continues. He also said earlier that continued ETH strength could set the stage for substantial gains in altcoins, potentially rewarding portfolios positioned for a broader market rotation.

Market intelligence platform Santiment noted that ETH’s climb above $4,000 on Aug. 8 was the first since Dec. 16, 2024, and came with a sharp increase in bullish language from retail traders. Mentions of terms like “buying” and “bullish” roughly doubled compared with “selling” and “bearish.” The firm cautioned that overconfidence can sometimes lead to short-lived pauses even during strong uptrends.

Technical Analysis Highlights

• According to CoinDesk Research’s technical analysis model, between Aug. 8 at 07:00 UTC and Aug. 9 at 06:00 UTC, ETH rose from $3,914.59 to $4,160.29, a 6% gain, trading between $3,885.03 and $4,194.53.
• The first breakout occurred at 13:00 UTC on Aug. 8, pushing prices above $4,000 on 646,459 ETH in volume, nearly triple the 24-hour average of 218,847 ETH.
• A second surge at 05:00 UTC on Aug. 9 lifted prices to the session peak of $4,194.53 on 714,461 ETH in volume, again more than triple the daily average.
• In the final hour (Aug. 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 before retreating to $4,158.50, with $42.52 in intraday swings.
• Buying briefly pushed prices above $4,190 before profit-taking set in, establishing support between $4,155 and $4,160, suggesting consolidation as larger players locked in gains near the psychological $4,200 level.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Jeremy Allaire, founder and CEO of Circle, the USD Coin (USDC) issuer that went public this month, called stablecoins the “highest utility form of money ever created” in an X post on June 15. He added, however, that the stablecoin industry is yet to experience a significant disruption.

Programmability of stablecoins will usher in change

Allaire’s comments were a response to an X post by Sam Broner, partner at a16z Crypto, who claimed that “stablecoins are better because they encourage competition.”

Broner noted that with fixed and marginal costs of building a fintech becoming lower, now “anyone can program money.” This means competition, which in turn leads to cheaper and better services that are more accessible, he wrote, adding:

“Speed & cost (< 1 second, 1 cent) matter, but it’s the permissionless programmability that’s going to change the market.”

In other words, stablecoins need to provide less than 1 second speed of transactions, and the cost needs to be around $0.01. However, it is the permissionless programmability that will usher in a revolution.

Stablecoin industry has not reached iPhone moment yet

When Apple launched the first iPhone in 2007, it revolutionized the mobile phone industry, triggering a wave of programmable smartphone adoption. The iPhone moment, therefore, refers to a disruptive innovation that pushes the technology towards widespread adoption.

According to Allaire, the stablecoin industry is yet to reach that tipping point, but he foresees it to be “soon.” At that tipping point, “developers everywhere will realize the power and opportunity of programmable digital dollars on the internet,” he noted.

Several members of the crypto community also believe that stablecoins have yet to go mainstream. One X user named Omar wrote:

“Today, stables are more expensive relative to a range of other choices – leaving a subset of customers who they make sense for [sic] (i.e. those without other options).”

Omar added, however, that he expects the cost of stablecoin transactions to “flip over time.” Another user noted that while stablecoin’s proliferation in the payments space dominated by cards has been minimal so far, it has the potential to grab a significant bulk of the market share in the future.

It is worth noting that just last month, Nobel prize-winning economist Paul Krugman said that “stablecoins do not serve any clearly useful function.”

Mentioned in this article

The gambling mentality is becoming the dominant mindset among crypto traders amid a surge in memecoin discussions, according to analytics firm Santiment.

In a new report, Santiment says that memecoin mindshare is making a comeback despite the recent high-profile collapses of several assets in the sector.

Santiment says that the rise in memecoin-centered discussions on social media suggests an increase in speculation and short-term investing mentality.

“Memecoins, in particular, are once again gaining considerable attention. Online discussions about these high-risk tokens have proliferated as traders embrace a ‘gamble’ mindset, rather than a calculated investment approach.

Notice how social volume has been creeping up for top market cap meme coins, and declining for layer-1s and layer-2s. This is a telltale sign that traders are increasingly investing based solely on speculation and short-term gains.”

Santiment says that currently, the rise in online discussions about altcoins, altseasons and bull markets suggests that the crypto market will likely witness a correction.

“Historically, the best times to invest in altcoins have been when crowd interest is between low and practically nonexistent. But at this current stage, with buzzwords like ‘altcoin,’ ‘altseason’ and ‘bull cycle’ trending, caution is advised, with retailers looking for any opportunity to buy minor dips. Markets move opposite to crowd expectations, so when the crowd’s excitement peaks, it often signals that prices are nearing exhaustion.”

Read the full Santiment report here.

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Generated Image: Midjourney

This followed Bitcoin’s drop to $76,000 amid a sharp and aggressive retracement from the mid-$80,000 range it traded in for the past several weeks.

NUPL and NUL are valuable tools for assessing the behavioral state of Bitcoin holders. These metrics are derived from the difference between Bitcoin’s current market price and the realized price — the average price at which all coins were last moved on-chain.

NUPL = (Market Cap – Realized Cap) / Market Cap
NUL = (Realized Cap – Market Cap) / Market Cap

NUPL shows the ratio of unrealized profits in the network. A high NUPL suggests that most coins are profitable, while a low or negative NUPL indicates widespread losses. NUL, its inverse, measures unrealized losses.

A high NUL suggests that many coins are held below their acquisition cost, which is typically associated with capitulation or fear. Together, these indicators help identify market cycles, sentiment transitions, and inflection points that precede major moves.

A NUL of 0.0578 meant that 5.78% of Bitcoin’s market cap was in an unrealized loss. This implies that a considerable cohort of market participants, mostly those who entered near Bitcoin’s March peak, found themselves holding BTC at a loss. This is a meaningful psychological shift, as it signals the onset of fear among short-term holders and the sharp cooling of the bullish sentiment we’ve seen at the beginning of the year.

To put this in context, the lowest NUL reading before 2025 occurred on Dec. 15, 2024, when it reached 0.0. That day, Bitcoin was trading above $104,000, and nearly all holders were in profit. Around the same time, NUPL peaked at 0.6349, a level historically associated with euphoric sentiment and overheated market conditions. These readings were consistent with a mature bull phase, often followed by distribution and increased volatility.

The transition from those extreme highs to the current mid-range suggests a market undergoing correction rather than collapse. NUPL remains above 0.4, indicating that most investors are still in profit. However, a rising NUL implies that losses are growing among recent entrants, particularly those who bought into strength late in the cycle.

First, April’s elevated NUL and declining NUPL reveal that the market has shifted from a risk-on to a highly reactive, cautious sentiment. Profit margins have compressed, and a growing share of coins have slipped into loss. This shows that short-term holders are under immense pressure, and the market recalibrates after a rally.

Second, the relatively modest rise in NUL, still well below 0.1, indicates that this is not a widespread capitulation event. Historically, NUL levels above 0.1 have been associated with deep bear markets and network-wide stress. The current 0.0578 level points to a correction with localized losses, likely centered around recent buyers.

Third, NUPL’s resilience above 0.4 supports the thesis that long-term holders remain largely in profit and unshaken. These holders typically serve as a stabilizing force during volatility, and their conviction often sets the foundation for new accumulation zones.

Fourth, Bitcoin’s price action shows that while the price dropped significantly from its peak, it remained in a historically elevated range above $76,000 and up to $85,000 in April. This further supports the view that the drawdown was technical rather than structural, with little evidence of panic selling or systemic deleveraging.

The NUPL and NUL data clearly show a market in transition. The recovery in both ratios as of April 10 shows that the broader market structure remains intact, with most holders still in profit.

This setup resembles historical phases in which the market consolidates before setting the stage for a new upswing, provided macro conditions remain favorable.

The post Unrealized losses hit highest level since October 2023 as Bitcoin dropped to $76k appeared first on CryptoSlate.

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After a prolonged period of reduced activity, the Solana network and ecosystem have regained traction once again with network activities surging to new levels. SOL’s price may be struggling with heightened volatility, but its network has displayed resilience, painting a bullish future for SOL.

TVL On Solana Surges To 22-Month High

The Ethereum network‘s strongest rival and contender, Solana, is gradually claiming the spotlight in the broader DeFi sector as a result of its recent milestone. With the SOL ecosystem surging again, it continues to cement its position as a leading blockchain in the ever-evolving world of cryptocurrencies.

Informative platform IC News stated that the Solana network is experiencing notable growth as its Total Value Locked (TVL) surges despite SOL’s downturn of 9% between March 28 and April 4. The platform stated that SOL’s TVL spiked to its highest level since June 2022, marking a 22-month high. 

SOL’s TVL rose by an additional 53.8 million SOL, reflecting an over 14% monthly rise since June 2022. This milestone signifies increased activity throughout the network’s DeFi protocols, robust ecosystem participation, and a fresh wave of investor confidence. 

Even with SOL’s price bearish performance, IC News highlighted that the Solana network consistently outperforms other networks like BNB Chain in terms of trading volume and deposits. Presently, SOL’s TVL is valued at $6.5 billion, putting the network ahead of the BNB Chain by over $780 million.

Furthermore, its Decentralized Exchange (DEX) volumes demonstrated remarkable resiliency as Total Value Locked (TVL) reached its highest level since June 2022. The Solana network currently dominates the DEX market share by about 24%, outperforming the BNB Chain and BASE networks, which control 12% and 10% of the DEX market share, respectively.

Should the network growth continue, it could lead to a price recovery for SOL in the upcoming weeks since heightened investor participation and DeFi activities often influence short-term price spikes. 

New Make-Or-Break Zone For SOL’s Price

SOL’s network performance may have improved, but its price continues to struggle to regain upward momentum, causing it to revisit key support levels. Technical expert and trader, Ali Martinez, delving into the altcoin’s action, has revealed a new make-or-break zone as volatility intensifies.

Ali Martinez highlighted that the $120 level is a make-or-break zone for SOL, urging investors to observe its next move. This is due to the major trend shifts that have happened at this level in the past.

Data from CoinMarketCap shows that Solana’s price has taken a significant hit, falling below the $100 mark with a nearly 18% drop in the last 24 hours. Despite this sharp decline, investors are demonstrating remarkable confidence, capitalizing on the recent drop as indicated by a more than 257% increase in trading volume in the past day.

Featured image from Unsplash, chart from Tradingview.com

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XRP has traded beyond key support levels and shows signs of strength as the broader crypto market struggles with sustained sales pressures and macroeconomic headwinds. While many digital assets have been struggling with sudden revisions in recent weeks, XRP is one of the most resilient performers, surpassing the key technology zone and raising investor interest.

Related readings

With market sentiment slowly recovering, many traders are focusing on XRP as a potential leader in the next wave of profits. Analysts believe that once the market stabilizes, it could become one of the first Altcoins to return to its previous highs. This optimism is supported by fresh on-chain data.

According to GlassNode metrics, the XRP network has recorded nearly 627,000 active addresses. This surge in network use suggests an increase in profits and adoption. This is a sign of bullishness that often leads to price acceleration. High address activity usually indicates that more users interact with the network through transactions, accumulation, and transactions.

If the broader market situation improves, this surge in activity could further drive XRP rise. As it stands, XRP is well above its main support range and looks ready for a breakout once bullish momentum returns to the market.

XRP Network Activity is where the Bulls protect key levels

Macroeconomic uncertainty and burgeoning volatility continue to shake up both the crypto and stock markets, fostering widespread fear and causing panic sales across asset classes. US trade war concerns, inflationary pressures and volatile policy moves have kept investors ahead of the board, leading to deep revisions in most cryptocurrencies. But amid this uncertainty, XRP stands out for its incredible resilience.

Related readings

Compared to major altcoins like Solana and Ethereum, both suffered significant losses, XRP remains at a strong technology level. The Bulls are able to defend key demand zones, and their current focus is reclaiming key supply areas to validate new uptrends. Despite the weaknesses of the overall market, the asset’s ability to hold support has attracted attention from both analysts and investors.

Top analyst Ali Martinez shared GlassNode’s on-chain data and revealed that XRP’s network activity is rising rapidly. With the highest 627,000 active addresses since April 2023, XRP shows new signs of adoption and use. Historically, active address spikes have correlated with bullish momentum. This is because the increase in participation usually reflects investors’ trust and trading demand.

If XRP maintains its support base and continues to show the strength of the network’s foundations, it could become one of the first altcoins once market sentiment recovers. The rise in active addresses may be an early indicator that greater movement is on the horizon.

After a small gathering, prices get stronger – turn to a $3 breakout

The XRP is trading for $2.41 after a few days of sharp swings between support and resistance. The tokens surged more than 33% at $1.89 from their recent lows, showing strong bullish momentum despite overall market uncertainty. This rebound has placed XRP among the top-performing assets in the crypto space, attracting new attention from traders and analysts.

The $2.30 level now exists as the main short-term support zone. If XRP is held above this level, the Bulls could push towards the psychological $3 mark. A clean breakout of over $3 can open the door for gatherings heading towards a range high and potentially new, top highs, depending on the sentiment of the wider market.

However, if XRP can’t maintain support at $2.30, then it’s possible to pull back to a low demand zone of $2.00, or even at a level of $1.89. This slows the pace of recovery and increases sales pressure in the short term.

Related readings

For now, XRP’s price structure remains bullish, but maintaining momentum will depend on exceeding critical levels as the broader market stabilizes. All eyes are in the next move.

Dall-E special images, TradingView chart