Ethereum (ETH)

The Ethereum 100K–1M ETH balance cohort just printed 11.04M ETH — the lowest reading on the entire chart history.
Framework note: this metric tracks the total ETH supply held by addresses with balances between 100,000 and 1,000,000 native units.

The cohort represents large whale wallets — institutional-scale positions sitting below the most extreme concentration tiers (smart contracts, exchanges, foundation reserves).

What the chart shows over the past four years:
— Early 2022 peak: ~28.83M ETH held by the cohort.
— Mid 2023 plateau: ~17M ETH. Stable for roughly 12 months.
— Mid 2024 rally to ~22M ETH as price ran toward $4.5K.
— Mid 2025 onward: sustained decline.
— Current: 11.04M ETH. The lowest reading visible in the dataset.

Total reduction from the early-2022 peak: approximately -17.8M ETH, or roughly -62% of the cohort's holdings.

What's notable about the timing: the cohort reduced through multiple price rallies. The peak-to-current decline is not concentrated in a single drawdown window — it's spr

Privacy By Choice?

Kieran Mesko on why opt-in privacy in a DeFi context does not require the entire system to be private: public auditability of DeFi protocols has genuine value.

If a lending protocol claims to be two times overcollateralized, anyone can verify that claim by summing the outstanding debt and checking it against the collateral balances.

This is one of the things that makes Ethereum DeFi meaningfully different from running the same logic on a centralized server.

Forcing everything private would eliminate that auditability.

The correct design preserves public verifiability of system-level properties while giving individual users the option to conduct their own transactions privately.

Bitcoin Takeover S17E27 with @mesquka

Most people still holding $eth are likely ready to go down with the ship; at least I am.

Ethereum is a bastion of freedom and self-sovereignty in an increasingly controlled world.

No amount of number go down could get me to sell. Even with most of my net worth in eth, I would hold it to literal zero.

I would rather take a chance on eth and be wrong than give up hope on the most inspiring invention of my generation.

Come zero or valhalla, I'll be here.

Believe in somΞthing.