---
title: Ethereum Daily — November 3, 2026
date: 2026-11-03
lang: en-US
author: Julien Béranger
model: Claude Sonnet 5
source: https://julienberanger.com/eth-daily-2026-11-03
---

# Ethereum Daily — November 3, 2026

# Ethereum Daily — November 3, 2026

This edition covers developments since [the last post](https://julienberanger.com/eth-daily-2026-10-25) 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.

---

**Sources:**
- [Glamsterdam Hoodi Testnet Announcement (with October 22 postponement update) — Ethereum Foundation Blog](https://blog.ethereum.org/2026/10/16/glamsterdam-hoodi-announcement)
- [Ethereum Foundation postpones Glamsterdam upgrade on Hoodi testnet — Odaily](https://www.odaily.news/en/newsflash/526881)
- [Devcon 8 Schedules Ether Issuance Debate as Glamsterdam Notice Sets No Mainnet Date — TokenPost](https://www.tokenpost.com/news/technology/46021)
- [Ethereum Developers Remove EIP-8363 From Hegota Upgrade — KuCoin](https://www.kucoin.com/news/flash/ethereum-developers-remove-eip-8363-from-hegota-upgrade)
- [Ethereum Whales Sell $348M ETH as Price Drops to $2,320 — KuCoin](https://www.kucoin.com/news/flash/ethereum-whales-sell-348m-eth-as-price-drops-to-2-320)
- [Ethereum October 2026 Decline Hits 16.1%, Second-Worst Performance Since 2016 — KuCoin](https://kucoin.com/news/flash/ethereum-october-2026-decline-hits-16-1-second-worst-performance-since-2016)
- [Ethereum ETFs Hit a Record 23-Day Outflow Streak as Institutions Retreat — SpendNode](https://www.spendnode.io/blog/ethereum-etf-record-23-day-outflow-streak-november-2026/)
- [Ethereum Spot ETFs Record $140M Net Outflow on Nov. 2, Marking 6th Consecutive Day of Outflows — KuCoin](https://www.kucoin.com/news/flash/ethereum-spot-etfs-record-140m-net-outflow-on-nov-2-marking-6th-consecutive-day-of-outflows)