ETHEUR
Ethereum / Euro
crypto Composite

I used to mainly trade stocks, so I was used to the rhythm of the market open and close.But after getting into crypto, the biggest change is that the market never sleeps. A lot of price moves happen at night, on weekends, or when you’re not even paying attention.I don’t stare at charts all day now, but I’ll open BYDFi sometimes to check BTC, ETH, trending coins, and the gainers/losers list to see the current market sentiment. When I first got into crypto, I only wanted to look at some popular coins and didn’t really care about anything else.The biggest thing I’ve noticed is that a 24/7 market is a double edged sword.There are more opportunities, but it’s easier to trade out of boredom or impulse.Has crypto being 24/7 changed the way you trade?

I agree they will use ETH to transact in NFTs but I just don’t see why any super intelligent agent would choose a volatile cryptocurrency over a dollar stablecoin

> we won't reach 50% staked because the yields will become unattractive.
This is where I think it's all wrong. What incentive does a DAT, or Coinbase, have not to stake it all and dominate and keep every possible penny for themselves? They can survive much longer than you or me. We exit, start selling our baseline ETH, and they increase their share.
Your arguments and rational are reasonable, though. I don't have the answer. I don't know if this is the answer, but I truly, in my heart of hearts believe all this will do is consolidate Big ETH players into even more power, and give the FUDsters another narrative why Ethereum as a whole is untrustworthy.
I think people are just pissed that ETH has found equilibrium around $1800.

Respectfully, I've read your post several times, I read it today and yesterday and 2 years ago when it was first posted. This conversation and variations of this proposal has been discussed many times, and like I already mentioned, you're not addressing anywhere what mechanism ensures that this proposal doesn't negatively affect home stakers. You're claiming it won't, but you're not actually backing this up with anything.
I don't think anyone is disagreeing that we *could* reach a point where *some* home stakers effectively aren't making a profit anymore.
What people are disagreeing with, is that this proposal does anything to remedy the situation. In fact, this proposal suffers from all the same issues, except it's much worse because it's going to speed up the timeline of when home stakers would become unprofitable while also introducing a dodgy new mechanic which could be abused.
Home stakers have higher operating costs per ETH staked, smaller stakes and don't get the same tax benefits as professional stakers do, meaning big entities will stay profitable for longer, correct? So knowing that home stakers are unprofitable before big entities, they will be the first to be pushed off the network as we get closer to the 50% mark. How does this proposal do anything to fix this problem? How does this proposal not just introduce a new mechanism for entities to more effectively outcompete home stakers?

Were we careless setting the current curve four years ago? It's a genuine question. It was designed to make staking less attractive as more ETH is staked.
To be honest, is 90% of ETH getting staked actually unhealthy? Why do we care if ETH inflates at up to 1.5% per year? It's not an unusual argument that inflation encourages spending, and 1.5% is still relatively low inflation in a currency. The remaining 10% of ETH has hundreds of millions times more units of account than all other sovereign issued currencies combined, so it is not an issue of scarcity.
If this whole game is to try to make Ethereum deflationary, I'm not sure it's worth it.

>**Dilution easy,**
>**More Ethereum squeezy,**
>**Discussion sleazy.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap

I fully believe this EIP had malicious intent. I've tried really hard to see it from all angles, there are people I highly respect on both sides, but it just doesn't make sense.
If ETH was at 10k, this wouldn't be a discussion.

I have already engaged with It both on the research forum, and here yesterday. I am past engaging with the arguments, I am now concerned about the lasting damage this EIP could cause.
I respect you. Way before I created this account to avoid doxxing, back when you were experimenting with fair value estimations of ETH under different regimes.
I have read all the material. I've followed the issuance discussion since 2020/2021 or so. I value Ethereum deeply for its values and properties as tech, more than I value engineered moneyness for speculative reasons.
As many others have said, here and in forums, the EIP is the one making counterintuitive claims without substantiating them enough.

I don't see it in terms of getting the price to do anything. In the short term the market is influenced by pretty much anything else. In the long-term a constant sell pressure from excess dilution does have a cumulative effect but that takes years and decades to play out.
I think of it in terms of setting up the issuance curve so that Ethereum can last with the properties we seek from it for decades to come. And that requires setting an issuance curve that allows to match a healthy stake ratio for any risk premium the market may demand for staking. If we can agree that 90% ETH staked is unhealthy, then why do we pay 1.5% yield for it? The protocol needs to align economic incentives with what it expects to receive from its stake.
That's the main concern.

12th dimensional chess:
* Too much ETH is staked
* Propose an EIP that's highly controversial but also the kind of thing everyone can have an opinion about
* People start talking about how they won't accept the other side so there will be an economic fork
* Stakers realize that if there's a fork they will have to either pick a side, or inactivity-bleed themselves to exit on both sides. Everyone else gets both coins
* Stakers unstake
* Problem solved

I have the same allocation - 80% stocks (mainly broad market ETF), 20% crypto. The 20% crypto allocation contains 10 different coins with BTC and ETH accounting for half the allocation (30% and 20% respectively). I'm old fashion - I believe diversification is key to risk adjusted out-sized returns.

**Source:** [https://x.com/toma\_adv/status/2084999236379197858](https://x.com/toma_adv/status/2084999236379197858)
https://preview.redd.it/rz54bqlzamhh1.png?width=680&format=png&auto=webp&s=3f7f8632b7daeab1b613acf918a85bf8f6687c93
July saw headline economics recover across the board. REV rose 34% MoM to $19.1M on resurgent memecoin activity, and app revenue climbed to $82.9M, its highest since February. The trading layer cooled, with DEX volume down 18% to $49.7B and tokenized assets retracing 58% off their June high as Robinhood Chain emerged as the category's first real challenger. The standout was the protocol layer, with SIMD 286 lifting block capacity to 100M CUs, the first Alpenglow admission gates live on mainnet, and governance moving onchain with the early July launch of SGPs. Looking ahead, stake signaling for SIMD 553 and SIMD 550 opened in early August, putting the first binding verdicts on Solana's demand- and supply-side emissions fixes. This preview provides excerpts from the
[Solana July monthly update on Lightspeed](https://solanalightspeed.com/reports/solana-july-2026-update).
https://preview.redd.it/yifwszd2bmhh1.png?width=680&format=png&auto=webp&s=2f846557b02af8420ecdd99e0ed62c5e02fcde36
[](https://x.com/toma_adv/article/2084999236379197858/media/2084970241138835456)
# Institutional Flows: ETFs and DATCOs
SOL ETP inflows totaled $18.9M in July, roughly flat against June's $19.1M (-1% MoM). While headline inflows remain far below May's $110.6M, July's figure came against a materially improved backdrop: BTC ETPs stabilized at +$223M after shedding close to $4.3B in June, their worst month since inception, and ETH ETPs returned to inflows at +$323M.
https://preview.redd.it/ti5m5ad3bmhh1.png?width=680&format=png&auto=webp&s=cf6e69122ef7673633d2ecedcd07edf6f7651b8f
On a market cap adjusted basis, July SOL ETP inflows amounted to 0.05% of SOL's market cap, up from 0.04% in June. Following a strong May, where SOL ETPs saw inflows equal to 0.25% of its market cap, July represents a meaningful decline in inflows. Relative to its market cap however, SOL continues to attract steadier ETP demand than BTC.
By contrast, Solana DATCO holdings were again roughly unchanged in aggregate at around 16.8M SOL, still constrained by limited secondary liquidity and persistent mNAV discounts.
# Financials
Solana's Real Economic Value (REV) totaled $19.1M in July, a 33.7% MoM increase from $14.3M in June. The increase was broad but concentrated in priority fees, which rose 44.8% to $12.2M as memecoin activity returned. Jito tips rose 21.3% to $3.3M, base fees rose 22.7% to $1.8M, and vote fees rose 7.1% to .
https://preview.redd.it/0q9nldr4bmhh1.png?width=680&format=png&auto=webp&s=80e018c4e0ce349cb680d577b9c6fdc92b13fbd9
Priority fees continue to take share from Jito tips, making up 64% of Solana REV in July, up from 59% in June, while Jito tips fell to 17% from 19%.
https://preview.redd.it/v93uy7z5bmhh1.png?width=680&format=png&auto=webp&s=e9bbb7723e3fd689cac0992c04d34ff827e2b66b
REV measures user demand to transact on a blockchain, tracking all value paid for transaction execution. Solana's share of network revenue increased from 10% in June to 16% in July, moving it up to the third-highest chain by revenue, behind Hyperliquid (33% of network revenue, down from 41%) and Tron (24%), and now ahead of Ethereum (8.5%).
https://preview.redd.it/qn0gavm7bmhh1.png?width=680&format=png&auto=webp&s=ea8fcd13a4cd7e23ad0eb5a12cbad0560780587a
In addition to REV, token holder net income amounted to -$0.7M in July, a narrowing of the deficit by 33% compared to June's -$1.1M. Token holder net income remained negative, meaning operator payments continued to exceed REV over the month. The metric represents the value distributed to the token, either in the form of SOL burn or staking rewards, and is calculated as REV less any Operator Payments (e.g., validator commissions, Jito's take rate, LST management fees, etc.).
https://preview.redd.it/fike8rx8bmhh1.png?width=680&format=png&auto=webp&s=8c6f132ead1c120916ef4d1edeba70dc0322a298
# Applications
# Revenue
Application revenue serves as an indicator of success for businesses within an ecosystem. While we tend to focus on REV, the true metric of an ecosystem's product market fit is the revenue generated by user-focused applications.
Solana apps generated $82.9M in revenue in July, up 5.6% MoM from $78.5M in June and the highest monthly figure since February. Bear in mind, we are currently tracking a subset of applications, so we presumably underestimate total app revenue on the network, though only marginally.
https://preview.redd.it/jaek7adpbmhh1.png?width=680&format=png&auto=webp&s=2f54af90a22a3996cc38a9136b5ea9b99f4eb5af
The highest revenue-generating apps on Solana in July were Pump ($32.6M, 39% of Solana app revenue), Collector Crypt ($10.7M, 13%), Pacifica ($6.2M, 7%), and Jupiter ($4.7M, 6%). Pump's figure marks a sharp reacceleration and its highest share of app revenue in months, driven by memecoin resurgence. Collector Crypt cooled from June's all-time high of $16.0M but remains the clear number two. Trading tools had a strong month, with Fomo ($3.8M), Axiom ($3.5M), and GMGN ($3.2M) all placing in the top eight.
# DEX Activity
Solana DEX volumes amounted to $49.7B in July, down 18.0% MoM from $60.5B in June. Regarding DEX composition, 42% of total volumes came from the SOL-stablecoin pair (down from 47% in June), with memecoins jumping to second at 23%, up sharply from 13% in June, and stablecoin swaps third at 22%. The memecoin share nearly doubling while overall volume declined points to a rotation rather than an expansion in flow.
https://preview.redd.it/ncc1attqbmhh1.png?width=680&format=png&auto=webp&s=07f6b79b00f58f7b9848c189c3cc206f70341be9
Regarding DEX dominance, BisonFi remained the leading prop AMM by trading volume in July with $6.2B, representing 12.5% of volume, down from 18.1% in June. The memecoin rotation showed up in venue share, with Pump's AMM taking 19.1% of total DEX volume, nearly double June's 10.4%, making it the largest single venue for the month.
https://preview.redd.it/4a1iyzrrbmhh1.png?width=680&format=png&auto=webp&s=b9669609454a8613335b238266bbc70f224e45a5
Tokenized asset volumes retraced to $1.6B in July, down 58% from June's all-time high of $3.9B, as the post-SpaceX-IPO surge normalized. The product buildout continued regardless, with xStocks, Backpack, and Ondo tokenizing SK Hynix’s ADR shares (SKHY) upon its Nasdaq listing.
https://preview.redd.it/4cdts30tbmhh1.png?width=680&format=png&auto=webp&s=67322b78ef8f739e48e7e6158e54644a49e7ef44
Competition is also arriving, with Robinhood Chain’s launch in early July. While Solana still holds a majority of tokenized equity volume, Robinhood Chain has made a significant dent in market share, peaking at 70% on July 25th. Over the second half of July, Solana held an average market share of 72%, next to Robinhood Chain’s 28%.
https://preview.redd.it/4bxht28ubmhh1.png?width=680&format=png&auto=webp&s=5331c8fdad5e58f22157068c4e60014d04039a71
Notably, prop AMMs on Solana deepened their involvement in tokenized asset trading even as volumes fell, quoting 38% of volume in July, up from 31% in June on a monthly basis.
https://preview.redd.it/vc19aacvbmhh1.png?width=680&format=png&auto=webp&s=0db5f49addda0dd177763c08589099860a25e765
# DEX Aggregators
Jupiter's share erosion paused in July, with its share of DEX aggregator volume stabilizing at 71%. OKX took 14.6% of DEX aggregator share in July, its highest ever, while DFlow gave back share, falling to 10.8% from 13.6% in June. Total aggregator volume fell 26% MoM to $31.0B, a steeper decline than overall DEX volume.
https://preview.redd.it/s7dc0zhxbmhh1.png?width=680&format=png&auto=webp&s=8ea6feb5cfc58663f3ac923d3e7d8aea830215e3
# Launchpads
Launchpad monthly revenue rose 20% MoM in July to $21.9M from $18.2M in June, led by Pump with $21.5M in revenue. Pump’s dominance grew slightly from 97% in June to 98% in July, matching its highest ever share and effectively securing total dominance over the sector.
https://preview.redd.it/q5y7ne0zbmhh1.png?width=680&format=png&auto=webp&s=4ac1b2ec7753f8ec3c39752236de5d151ccea2fa
# ICM / Raises
July was a notable month of MetaDAO raises, with [Laso Finance](https://laso.finance/), a privacy-focused card issuer, completing its raise on July 4th, with over $25M in commitments against a $750k minimum amount. As noted in the June update, MetaDAO raises, which have historically seen a spike in last-minute commitments, now feature a time-based component to encourage early commitments. Laso Finance opted to keep $1M of the $25M in commitments. The raise’s time-based component is evident when looking at the commitment volumes per day, which are meaningfully shifted towards the first two days of the raise. This is in stark contrast to past raises where a majority of commitments arrived in the last hours of the raise.
https://preview.redd.it/6kr18050cmhh1.png?width=680&format=png&auto=webp&s=965a5656f90f18e365a6dcc79f1ee37cae68300e
Later in the month, [Credible Finance](https://credible.finance/), a merchants focused payments business, launched its raise, with a $2M minimum raise amount. The Colosseum sponsored raise saw upwards of $32M in commitments, with Credible opting to keep $4M to fund their business operations.
Finally, [Rip Cars](https://ripcars.io/), a gacha platform for Hot Wheels, rounded off the month’s curated launches, with a goal of . This was the first MetaDAO raise that employed an [ownership score](https://score.metadao.fi/), a time and value weighted score focused on ownership coins, including MetaDAO’s native token META. The raise ended with just under $32M in commitments, with Rip Cars opting to keep $250k, the minimum amount they were looking to raise. MetaDAO continues to experiment with varying allocation methodology to best distribute ownership tokens to longer term investors.
On the permissionless side, June’s raise cadence has picked up, with 3 protocols successfully raising funds on Futardio. ORDR, Basket, and Kimia, raised through the platform, with ORDR seeing over $9M in commitments.
# Stablecoins
Solana's stablecoin supply grew 9.1% MoM to close July at $15.7B . The growth was led by USDT, which expanded 47% to $3.4B (22% market share), and USDGO, which grew 29% to $1.1B (7% share) and is up roughly 20x since its February launch. USDC supply was effectively flat at $7.5B, taking its market share down to 47%, its lowest ever, from 52% in June. Stablecoin supply outside USDC and USDT reached a record near $4.8B, roughly 15x its level at the start of 2025.
https://preview.redd.it/qcp952k2cmhh1.png?width=680&format=png&auto=webp&s=7861d70720ffcdc6e06bf92edb0b728d04ef62fa
# Looking Forward
July marked a turn in headline economics, with REV up 34% MoM to $19.1M, app revenue reaching $82.9M, and launchpad revenue up 20%. The offset was the trading layer, where DEX volume fell 18% to $49.7B and tokenized assets normalized to $1.6B after June's SpaceX-driven spike, though prop AMMs deepened their quoting share of the category to 38%.
Looking ahead, August is set up as the month governance produces its first verdicts. Stake signaling for SIMD 553 and SIMD 550 opened in early August, and Agave 4.2's mainnet feature activation is targeted for August 17th. The first stage of Alpenglow's consensus logic already ships dormant in validator clients and is expected to be switched on for mainnet within the month, ahead of full activation around October.
On the capacity side, the early read on 100M CU blocks is that the headroom is working as tail relief. Median blocks are barely fuller, while p99 blocks run 51% hotter. The metric to watch from here is transaction quality. Failed-transaction share and tail fees both rose through late July, a pattern that has historically preceded acute congestion, and August will show whether the bigger blocks bend that curve.
The information contained in this report and by Blockworks Inc. and related affiliates is for general informational purposes only and is not intended to provide legal, financial, or investment advice. The report should not be construed as an offer or solicitation to buy or sell any security, token, or financial instrument and does not represent any recommendation or endorsement of any investment or financial product or service. Blockworks Inc. and related affiliates are not registered as a securities broker-dealer or an investment advisor in any jurisdiction or country.

Then you can exchange any ETH 1-to-1 for a staked derivative so it's not worthless???

Look at the CAGR Chart (this is not the CAGR chart but see in Tradingview "logarithmic chart") - It's a 5 year consolidation into a Breakout soon. Hopefully. At least it's the bottom of the range and the probably easiest +100% you will get this time around. No leverage, just pure eth or BMNR stock.
Catalysts for ETH:
\- Clarity Act
\- AgentIc AI
\- 24/7 On Chain Money Markets (See BlackRock)
\- Iran war Resolve
The time is now - and I would suggest you to buy before the clarity act gets passed.
Institutions lean into krypto for the first time without high prices. They buy cause it has value, not because they need to chase the performance.
ETH had it's lowest RSI hit ever 1 month ago with RSI 13.
ETH/BTC ratio may be setting up for a breakout of the trend. If ETH dominance rises. We get another Upside run soon.
The Krypto cycle may be broken. This time ETH will be the one to buy.
I also bought some 2028 options with 35, 30, 25, 22, 20 strikes.

For this topic, anything under 100 ETH is pretty much pocket change. MMs can hedge them in nanoseconds

I understand your worry. I really do. You fear this is a slippery slope that might turn ETH into a deflationary memecoin that focuses on "muh decreasing supply". I wouldn't want that either. My hair is deflationary and scarce too, but unfortunately they don't seem to increase in value.
But can you honestly tell me that you believe that the issuance curve that was picked back in 2019 with not really much thought except "it works, it's conservative because the Merge is already complicated and we don't need any more risk right now, we'll revisit it in the future" is the best Ethereum can do?
Because I can't say that. We definitely can do much better.
Also, on gold: Being a store of value was supposed to be one of the usecases of ETH since day 1. And that requires at least *some* features of gold. I agree that productive uses are more important and the main driver, but holding requires at least some incentives. Unless you don't consider SoV a legitimate use of ETH.
I've been a proud Ethereum Maxi since 2018, by the way. But not in the unhealthy way Bitcoin Maxis are. I'm simply following the best blockchain, it's just that nothing else has even come close to challenging it in technology, ethos, or adoption.

>It doesnt
Good, so we'll agree this EIP is a dud, right?
>how much does it matter if home stakers are 0.01% of the staked ETH vs 0.001%? I dont see a meaningful difference in network security.
Do you not know how much stake is from home/hobbyist/independent stakers? Because it's not 0.01%. Do you want me to tell you how to check?

It doesnt, but how much does it matter if home stakers are 0.01% of the soaked ETH vs 0.001%? I dont see a meaningful difference in network security.

> The whole notion of "real" or "net" yield is parasitic. It only matters so long as the fiat economy matters more than ETH does.
What makes you say that?
Getting x% yield when ETH supply increase is y% is in principle the same as getting (x -y)% yield without supply increase: you end up with the same share of the total supply. That has nothing to do with fiat.

**ALL HAIL THE ETERNAL CRAB**
🐻 ⚡ 📈 🌊 📈 ⚡ 🐻
⚡ ⚡ 📉 📈 📉 ⚡ ⚡
📈 📉 📈 🐋 📈 📉 📈
🌊 📈 🐋 🦀 🐋 📈 🌊
📈 📉 📈 🐋 📈 📉 📈
⚡ ⚡ 📉 📈 📉 ⚡ ⚡
🐻 ⚡ 📈 🌊 📈 ⚡ 🐻
**$1000---$1912-------------$5000**
**2021----------2026----------∞**
*Issuance change or not, ETH will find a balance.*
*Both in staking APY and in price.*
*It has been prophesied.*