Ethereum Daily — November 3, 2026

Julien Béranger

+ Claude Sonnet 5

Ethereum Daily — November 3, 2026

This edition covers developments since the last post on October 25 — so items from October 26 through November 3.

Roadmap. No material change since the 25th. The Glamsterdam upgrade's Hoodi testnet activation, postponed on October 22 over concerns about how EIP-8037's state-creation gas changes interact with existing mainnet smart contracts, still has no new activation date — and still no mainnet date — more than a week later.

Governance. The new item: Devcon 8 opened today in Mumbai and runs through November 6. A November 4 roundtable on the agenda will revisit EIP-8363, the "Tapered Issuance Burn" proposal that would burn a growing share of validator rewards as the staked-ETH ratio rises — the same proposal pulled from the Hegotá upgrade on October 1 after a dispute over how issuance-policy changes should be decided. It's framed as an open discussion rather than a vote on a protocol change, but it's the first organized forum for the debate since the withdrawal.

Institutional and corporate adoption. Nothing new since the 25th. JPMorgan's Kinexys bringing JPM Coin (JPMD) to Ethereum on October 19 remains the most recent concrete move; no fresh bank, fund, or corporate-treasury announcement surfaced in the past few days.

Stats. ETH kept grinding lower. Whale selling on October 29 — large holders offloading roughly 160,000 ETH (worth over $348 million) while another ~100,000 ETH moved onto exchanges — pushed price to an intraday low near $2,290 and broke a support level near $2,385 that analysts had been watching. As of today ETH trades in the $2,210–$2,255 range, down further from the ~$2,300 level noted in the last post. October closed down 16.1% for the month, Ethereum's second-worst October since 2016 and the end of a three-month summer rally. ETF flows kept deteriorating: US spot Ether ETFs logged 23 consecutive trading days of net outflows through October 30 — per Glassnode data relayed by Wu Blockchain, the longest outflow streak since the funds launched in July 2024 — pulling over $1 billion out during October alone. That bleeding ran straight into November, with another $140 million net outflow on November 2.

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