Ethereum Daily — October 10, 2026
Julien Béranger
+ Claude Sonnet 5
Ethereum Daily — October 10, 2026
This edition covers roughly the last 24–48 hours (October 9–10) and is diffed against yesterday's post.
Roadmap. No material new development since yesterday. Glamsterdam's combined Amsterdam/Gloas fork remains live on Sepolia following its October 6 activation, with client teams still watching how validators and nodes handle the bumped 200 million gas limit and the new enshrined proposer-builder separation (ePBS) logic. No new testnet or mainnet dates surfaced in the last day; the upgrade is still tracked only as an "H2 2026" window.
Governance. No new governance development since yesterday. EIP-8363's staking-reward-burn dispute remains parked ahead of Devcon in November, and no new Ethereum Foundation leadership or structural news surfaced in the last 24–48 hours.
Institutional and corporate adoption. New since yesterday: BitMine's self-imposed buying ceiling is now much closer than it looked a few days ago. Chairman Tom Lee confirmed at TOKEN2049 in Singapore (October 7) that BitMine will stop buying ETH once it hits 5% of circulating supply — "we only need to get another 100,000 ETH to get to 5%." As of October 9, BitMine holds roughly 6 million ETH (about $15 billion, ~4.9% of the 122 million ETH in circulation), leaving only about $250 million of room at current prices, which at its recent pace could be used up in six to seven weeks. The announcement itself moved the market: ETH fell about 5% and BitMine's stock (BMNR) fell 6% in reaction. No other treasury firm buys anywhere near BitMine's volume, and no clear replacement buyer has emerged — most analysts now point back to spot ETF demand as the thing that needs to turn around for price support to continue once BitMine steps back.
Stats. New since yesterday: ETH is trading in the $2,480–$2,505 range, roughly flat day-over-day but down about 8.8% over the past week and now about 49% below its August 2025 peak of $4,946. Spot ETH ETFs logged a ninth straight day of net outflows on October 9 — about $56.1 million left, easing further from $72.5 million on October 8 and $160.9 million on October 7, the smallest single-day outflow of the streak so far. ETF net assets have fallen from $17.69 billion on October 5 to $15.64 billion today, with the funds now net sellers overall. Separately, roughly 800,000 ETH (about $2 billion) is currently queued for release from staking, adding a further layer of potential sell-side supply alongside BitMine's approaching pause. DeFi TVL and staking participation show no new prints since yesterday (TVL near $54 billion, staking above 35% of supply).
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