ETHEUR
Ethereum / Euro
cryptoBitfinex

I’ve recently heard speculation that Hype and Near or Quant could replace BTC and ETH... That is absolute nonsense and doesn't warrant further attention.

[PROOF](https://imgur.com/a/6vc7FWr) For Sale at spot (via Kitco Ask Price at time of agreement): * 1998 1oz American Gold Eagle * 2010 1oz American Gold Eagle Payment Method: **Crypto Only** (BTC or ETH would be best, can probably make any of the other mainstream cryptos work if needed). Shipping via USPS Priority flat rate box. Free shipping. Buyer pays first. Please post & then send chat to initiate trade talks. Thank you!

Yeah i heard about that 1 ETH. Indeed it's not close. And i went to the "not your key, not your crypto" path so pools don't comply with what i believe is sanity regarding holding crypto long term

You dont need to do a lot of research it's simple. Bet on compliance and institutional readiness. Its a long road because institutions move at a snails pace. ETH, ARB, XRP, XLM, HBAR, QUANT, ALGORAND, SOL, AVAX... Where ever you see the biggest corporations and institutional partnerships putting their weight is where the train is headed. Much the the chagrin of Reddit you dont need to understand the tech, just follow the money and the ones actively working to be compliant. It will take a few years.

What do you guys think about ETH vs HYPE ?

Markets are moving on-chain. Perps already made that trip. They started as a way to trade with leverage around the clock, became the default, and on Hyperliquid they spread to stocks, indexes, oil, and companies that are not even public. Options are next. They are already the main event in traditional markets, and they barely exist on-chain. Jake Sylvestre, founder of Hypercall, laid this out in Financial Tech Times on October 2. S&P 500 index options averaged 4.6 million contracts a day in August, more than $3 trillion of notional. Every on-chain options venue combined did about $4.4 billion over the last 30 days. The S&P trades that in about 30 seconds. Over the past year, on-chain options did about $19.5 billion, and last month’s pace annualizes to more than $50 billion. Almost all of that is still the two biggest coins. Equity and index options, the actual market, have barely started. The flow underneath is already there. Hyperliquid is doing about $2.2 billion a day in perps on oil, the S&P 500, Nvidia, and other traditional assets. Options on those underlyings are a far bigger market. On-chain, that book has barely opened. Orange is Derive, and it is most of the book from November 2025 through September 2026. White is Rysk, cyan is Paradex, purple is Aevo, teal is Hypersurface. Hypercall is green. It is a rounding error through the summer, then it is the cap on the September bar. Left axis tops at $6 billion. September is the only month through $4 billion. September notional across the whole tape was $4.829 billion, up 121.7% from August. The line on the right axis, running toward $21 billion, is the cumulative path, not one month. Sylvestre’s own figures match that band. Hypercall launched June 1. Since then: $592 million notional, $536 million of it in September, a recent week at about $60 million a day. He calls that the largest on-chain equity options venue. He also calls it a rounding error. $60 million a day is under 1% of a normal Hyperliquid day, and about 0.002% of daily S&P options notional. The gap is the bull case. Marlon at u/momilio had the outside number: Hypercall notional went from $9.4 million in August to $538.8 million in September, about 57x, and ranked second for the month behind Derive. Some of that was a short-dated bear put spread whose market maker hedged on Hyperliquid and accounted for 15% of all S&P perp volume on HL that day. That is the product working as designed. **Why this one, and not another options app** Earlier on-chain options venues died for one reason. Anyone short an option needs a cheap, liquid hedge. That hedge did not exist for stocks, indexes, or oil. Hyperliquid’s perps fill it: same underlying, same USDC collateral, open every hour. Hypercall is built into that stack. Makers hedge S&P and single-stock options there, including on weekends. It is the options book using Hype’s liquidity as the hedge, not a separate venue hoping liquidity shows up later. A perp can get liquidated on a Sunday gap even if the trade is right by Monday. An option buyer knows the max loss going in. That is the premium. The longer markets stay open, the more that matters. Earnings hit after the bell. Macro prints on weekends. On August 26, the day Nvidia reported, Nvidia options on Hypercall did about $554,000, against under $10,000 a day the week before. Two days ahead of Micron earnings, Micron options did about $7.4 million. SpaceX options do not trade anywhere else. Live since launch: S&P 500, Nvidia, Micron, Apple, Microsoft, Meta, Alibaba, SanDisk, SpaceX, plus BTC and ETH. [https://x.com/MorningWoodRsch/status/2107096653635129848](https://x.com/MorningWoodRsch/status/2107096653635129848) Last 30 days the tape is $5.66 billion. Derive is still 78.7%. Hypercall is the green slice at 10.1%, ahead of Paradex at 7.5%, Rysk 2.6%, Aevo 1.1%. Second place, one quarter after launch, on a book that was basically one venue a month ago. That is the setup the public companies are positioning into. One wants to be the listed treasury. One wants to be the premium seller. **$SONI: leading to be the Hypercall DAT** SonicStrategy (CSE: SONI, OTCQB: SONIF) is out in front to be the public DAT for Hypercall. Same playbook as the other treasury names, different asset. Instead of sitting on a base-layer coin, it is accumulating SYN, the asset tied to Synapse Labs, which is building the options venue. If Hypercall becomes the on-chain equity options book, SONI is trying to be the stock you own to get that exposure without running the venue yourself. * September 23: 500,000 SYN at about US$0.23, roughly US$115,000. First treasury buy aimed at on-chain derivatives. Company cited a US$57.5 million fully diluted value at the print. * September 24: another 260,000 at about US$0.1923, roughly US$50,000. Total about 760,000 SYN. Combined cost about US$165,000. * CEO Dustin Zinger framed it as the treasury moving into derivatives as more real-world assets trade around the clock, and said the firm intends to keep expanding that book. * Synapse has proposed sending 70% of certain protocol fees to SYN buybacks. Not approved. Not live. If it clears, venue activity and demand for the treasury asset start to rhyme, which is the whole point of a DAT. The position is small next to a real treasury strategy. The seat is not. Nobody else public is positioned as the listed wrapper on Hypercall. SONI bought the stub in the same month the green band showed up, and it is the only CSE name marketing itself as that exposure. That is how these wrappers start: a small open-market position, a filing that names the venue, then a raise if the tape keeps going. September 22 it already had a proposed private placement of up to C$4.5 million on the board. **$LUXX: the one that wants to trade it** Luxxfolio (CSE: LUXX, OTCQB: LUXFF) is the other side of the same trade. It does not want to own the builder. It wants to use the venue. October 5 release. Non-binding letter of intent dated October 4. * Proposed program: sell covered calls through Hypercall on part of the treasury and book the premium as a second revenue line next to operations. * Premium is meant as extra capital for the existing accumulation strategy, subject to how the program actually performs and what the treasury needs. * Hypercall’s side of the LOI: fast-track product support, arrange market makers and liquidity, and handle onboarding and access. * CEO Tomek Antoniak: build that secondary revenue stream, then look at payout options and extra functionality for pool participants once the commercial terms exist. * No closed facility, no disclosed notional, no strike grid. An LOI does not pay premium. The positioning still matters. A listed company is asking to be a covered-call seller on a 24/7 options book, in the same month that book took 10% of on-chain notional share. If the program lists, LUXX is not a spectator. It is flow. SONI is the equity stub on the stack. LUXX is the corporate user of the product. Public markets usually get one of those first. Here they showed up together. That is the split. SONI is leading as the Hypercall DAT. LUXX wants to sell premium on the venue itself. Both landed in the same window the green band showed up. Options are moving on-chain, Hypercall is the book wired into Hype’s liquidity, September is when the volume inflected, and two listed companies are already choosing a side: own the builder, or trade the venue. Not advice. The SONI position is about US$165,000. The LUXX piece is non-binding. The volume is still nothing next to listed S&P options. This is the start of the curve, not a finished market.

A decentralized pool. They're hoping to reduce the minimum stake to 1 ETH but that will take some scaling improvements.

What does it cost to send ETH on L1, do you know? Last time I checked it was $0.007 and takes an average of 6 seconds.

Kudos to BLAST for making an announcement, setting a date and providing detailed instruction for users to withdraw funds, or bridge to another network rather than just doing a runner or staying silent. A shame it wasn't able to generate enough in fees to maintain it's operations. BLAST was one of my most successful airdrops, in terms of reward for effort input - hundreds of dollars worth of BLAST tokens simply from staking a couple of ETH, on top of the stake rewards of course. Good times. 🫡

this sqlana fanboi form drokworks: [https://xcopy.uk/minnus/status/2105308939378184363](https://xcopy.uk/minnus/status/2105308939378184363) but yeah I agree it's kind of obvious just wanted to say the ETH L2 model may not be the endgame

No wonder the liquidity is drying up, the trend is ETH going at stake not at market depth. This is not good for the quality of the asset. Less liquidity means more slippage in and out.

Nobody is selling their staked ETH anyway

They took away the decentralisation part of the project with the insane amount of ETH you need to stake to run a validator. It's WAY above folk's paygrade and only early miners and rich folks can afford to run a validator. Agreed that it makes transaction faster, needing less validators but, yeah, no more decentralization as their was with gpu mining (which wasn't a good solution either, agreed)

ETH having less liquidity than BTC feels more like a benchmark problem than an Ethereum problem. BTC is the deepest crypto market by a mile, the more useful question is whether ETH liquidity is sufficient for actual institutional size, and whether that depth is improving over time.

**TL;DR:** According to CoinGecko, ETH liquidity is now less than half of BTC's, down from 60% in 2025. ETH has median daily liquidity of $13M–$14M at the 0.15% market depth level. However, most exchanges have over $1M liquidity on each side, with Binance leading at $3M. This is not necessarily a problem, as ETH has substantial liquidity and a growing ecosystem. --- *This is an AI-generated summary, always make sure to verify the accuracy of the information provided.* *^(my-tldr v0.0.13)*

ETH has a liquidity problem.

Vivek Raman (Etherealize) on twiter: How are exchanges tokenizing stocks? \- Coinbase: on Base, an ETH L2 \- Robinhood: on Robinhood Chain, an ETH L2 \- Kraken: on Ink, an ETH L2 And today: \- OKX + ICE, on X Layer, an ETH L2 With L2s, exchanges own the rails and connect to the largest public blockchain: Ethereum. [https://nitter.meowing.monster/VivekVentures/status/2107081894873432422](https://nitter.meowing.monster/VivekVentures/status/2107081894873432422)

Yes but ETH uses proof of stake, which invites concentration of wealth, leading to centralization.

1. Upside is relatively limited for Ethereum. 2. Of course ETH leads in TVL and stablecoin supply, but the relative market share has not been growing over the last 4 years or so. Basically ETH went from 100% in 2020 and prior, to ~50% in mid 2022 and it continues to hover around 50-60%. It is retaining its share, but seeing as the growth is far more helpful for smaller chains, I see this is as a threat to ETH. 3. ETH is having identity/narrative struggles, L2s were the plan for scaling, now they're scaling the L1 and we're at the point when we don't hear about new L2s launching, we hear about older L2s dying. Not to mention the economic alignment is kinda borked. 4. ETH's position as the clear leader in smart contracts has never been more challenged than it is now and basically that lead has been perpetually shrinking since Solana launched. 5. The biggest tradfi institutions are launching on many different networks, not just Ethereum. 6. Sentiment and mindshare around the ETH has probably never been lower (sentiment probably bottomed recently), I rarely see people bullpost ETH or talk about using things on the L1, this is anecdotal but as a decade long ETH holder, I feel like I've got a decent feel for it. ETH has always been my biggest bag or second biggest bag, but it's not a coin I'm too hyped on holding right now.

It definitely feels like ETH is waking up again. I’m curious if this is the start of a bigger move or just a short-term breakout. $2.7k still feels pretty far from the previous ATH though. What price level would you want to see ETH hold before getting more confident that the trend has really changed?

>**Chainlink throws the dice,** >**The right liquidation price,** >**Litigate with spice.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap

The raw queue size sounds dramatic, but the more useful question is what share of total staked ETH it represents and how quickly the queue is clearing. A larger exit queue doesn’t automatically mean validators are abandoning Ethereum - some exits can be routine rebalancing, withdrawals, or profit-taking.

> on-chain metrics & liquidity You put ETH in category C... * There is more value in Stablecoins on Ethereum than on every other chain combined, even if you count Ethereum's rollups (Arbitrum, Base, Optimism etc) as part of the 'Other Chains' category: https://visaonchainanalytics.com/supply * There is more value in DeFi on Ethereum than on every other chain combined, even if you count Ethereum's rollups (Arbitrum, Base, Optimism etc) as part of the 'Other Chains' category: https://defillama.com/chains > market sentiment & narrative * Blackrock, the biggest asset manager in the world has built multiple projects tokenizing traditional financial assets on Ethereum: https://ethereumadoption.com/built-on-ethereum?view=byEntity#entity-blackrock * UBS, the biggest wealth manager in the world has built multiple projects tokenizing traditional financial assets on Ethereum: https://ethereumadoption.com/built-on-ethereum?view=byEntity#entity-ubs * JP Morgan, the biggest bank in the world by market capitalization has built multiple projects tokenizing traditional financial assets on Ethereum: https://ethereumadoption.com/built-on-ethereum?view=byEntity#entity-jpmorgan * Fidelity, the 3rd biggest asset manager in the world has built multiple projects tokenizing traditional financial assets on Ethereum: https://ethereumadoption.com/built-on-ethereum?view=byEntity#entity-fidelity What narrative do you think other projects have that is more convincing than literally the biggest financial institutions in existence choosing to deploy there?

agreed. ETHBTC not breaking out this cycle would mean under-performing BTC for 2 cycles in a row and, as far as I am concerned, refute the ETH investment thesis. In this case I would commit sudoku

I remember there was some hype around new groups that was created this past year, with the mission of marketing ETH and focusing on attracting investors / capital. Anyone that has followed them? How are they doing? Are they actually doing something?