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Points of Focus
- ETH fell 1.65% this week, closing near $1,877 from $1,909.
- Sharplink staked $200 million in ETH through Lido on August 13.
- EIP-8363’s staking-reward burn proposal drew sharp backlash from developers.
ETH fell 1.65% during the week of August 7-14, opening at $1,909.14 and closing at $1,877.59 after swinging between an intraweek low of $1,852.33 and a high of $1,929.32, per TradingView data.
The move came alongside a major institutional staking allocation, one of Ethereum’s sharpest governance fights in months, and continued treasury accumulation from BitMine.
The price stayed choppy throughout, dipping to the $1,858 to $1,872 range early in the week, recovering toward $1,919 to $1,937 by August 7, then easing back to $1,882 to $1,900 by the close as broader risk-off pressure from Bitcoin’s pullback below $64,000 weighed on the market.
Momentum turns positive underneath a wall of resistance
ETH now trades at $1,877.17, and the moving average (MA) stack tells a mostly one-sided story: only the 10-day simple moving average (SMA), at $1,808.35, sits below spot as support.
Every other tracked average, from the 10-day exponential moving average (EMA) at $1,884.14 through the 200-day EMA and SMA near $2,463 and $2,488, sits above price as resistance.
The relative strength index reads 41.99, neutral but leaning weak. At the same time, momentum, at 187.39, and the MACD level, at -185.31, both signal upward movement despite the broader resistance overhead, a split worth watching if it resolves in either direction next week.
Sharplink stakes $200 million through Lido
Sharplink, one of the largest corporate holders of ETH, deployed $200 million from its treasury to staking via the Lido protocol on August 13, receiving wstETH in return and entrusting custody of the position to Anchorage Digital.
One of the largest publicly traded ETH treasuries is staking with Lido.@Sharplink has chosen Lido for a $200M ETH staking allocation, benefitting from daily staking rewards together with unparalleled liquidity and onchain utility.https://t.co/CqSHSyfrOH pic.twitter.com/qBAcDiTSq4
— Lido (@LidoFinance) August 13, 2026
The allocation follows Anchorage Digital’s integration of wstETH the prior month, which opened institutional access to Lido liquid staking for the first federally chartered crypto bank in the US.
“This is an exciting expansion in making our ETH even more productive, leveraging wstETH’s composability while maintaining institutional-grade risk standards,” said Sharplink CEO Joseph Chalom.
Lido currently holds roughly $16.5 billion in staked ETH, with stETH integrated across more than 100 protocols and around $10 billion in active use as collateral.
A staking-reward proposal splits the developer community
EIP-8363, a draft that would gradually burn validator rewards as Ethereum’s staking ratio approaches roughly 50% of supply, drew sharp pushback starting August 7.
Critics warned the mechanism could weaken DeFi liquidity and undermine the decentralization incentives it was meant to protect, even as a Prysm client team had already built an early draft implementation.
The proposal’s fate remains unresolved heading into next week, and its outcome carries direct weight for Sharplink’s new staking position and every other treasury now positioning around predictable ETH staking yield.
BitMine keeps buying, even as ETH slides
Tom Lee’s BitMine reported ETH holdings of 5,797,813 tokens as of August 2, equal to 4.8% of the 120.7 million total ETH supply, and added roughly 10,399 ETH the following week, bringing holdings to 5,805,238 tokens by August 9.
BitMine has now staked over 5 million ETH through its MAVAN platform, roughly 85% of its total holdings, as it continues working toward a self-set 5% supply target.
Security and infrastructure roundup
A Blockaid report found Ethereum suffered the highest hack-related losses of any blockchain in the first half of 2026, with 56 incidents, ahead of Solana, which overtook Arbitrum as the second-most-targeted network.
Attackers behind the Coldcard hardware-wallet exploit moved 64 BTC and 200 ETH into mixers on August 6, though most of the stolen funds reportedly remain traceable. Separately, the USM protocol was exploited for roughly 70.83 ETH on August 10 after an attacker split a large withdrawal into 64 small calls to bypass a redemption safeguard.
On the defensive side, the Ethereum Foundation’s Trillion Dollar Security initiative announced a grant to the Freedom of the Press Foundation on August 5 to fund WEBCAT, an open standard that lets browsers verify a website’s code matches what developers actually published, aimed at eliminating blind signing, the structural flaw implicated in the Bybit hack.
Glamsterdam, billed as Ethereum’s biggest upgrade since the Merge, remained on track to be activated before the end of August.
What comes next
This week paired real institutional conviction, a $200 million staking allocation, and continued BitMine accumulation with an unresolved fight over the issuance economics that conviction depends on.
Whether EIP-8363 advances toward Glamsterdam’s late-August landing or gets tabled is the detail that determines whether Sharplink’s new staking position and BitMine’s yield math hold up to the assumptions they were built on.
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