ETHEthereum Price

Blockchain security firm CertiK reports that approximately 64 Bitcoin ($4.17 million) and 200 Ether ($380,000) linked to the Coldcard exploit were sent to cryptocurrency mixers Wasabi Wallet and Tornado Cash, respectively, this week. These protocols obscure the on-chain trail of stolen funds. The Coldcard attack, now 2026's third-largest crypto hack, drained at least $100 million in Bitcoin from 7,300 wallets, with total losses potentially reaching $130 million. Analysis from TRM Labs and Galaxy Digital suggests multiple attackers, including copycats, exploited a 2021 firmware bug that weakened wallet seed randomness. While some stolen assets have been moved to mixers, most victim funds reportedly remain in attacker-controlled addresses.

On August 6, the Kite Foundation announced it detected and thwarted an attack on its $KITE token on the Ethereum mainnet, confirming no tokens were stolen. The incident adds $KITE to a list of DeFi protocols, including Boltz, AQUA, and ZEUS, targeted recently. While the security monitoring system flagged and stopped the unusual transfer activity, the event has drawn attention to the project's declining position. After entering the top 100 cryptocurrencies in early 2026 with a market cap exceeding $363 million, $KITE has since fallen over 67% from its March peak and now ranks 123rd. This attack occurs amidst a surge in AI-powered exploits, as noted in recent incidents affecting other platforms. Commentators warn that AI-assisted attackers are becoming more sophisticated, posing significant challenges for security teams. Kite, which bills itself as an AI-first blockchain payment infrastructure, has emphasized its security audits and bug bounty program. The foundation's response aims to restore trust as the broader DeFi sector grapples with increasing security threats, with total crypto theft reportedly around $16.9 billion.

Money continued to flow rapidly into the largest cryptocurrency ETFs. Bitcoin and Ethereum ETFs collectively attracted over $305 million in inflows, with BlackRock again leading the charge, marking the third consecutive session of strong institutional demand. The broader market picture was mixed. Hyperliquid ($HYPE) ETFs finally saw renewed buying interest, while XRP ($XRP) ETFs faced outflows, and Solana-based products remained stagnant. In a strong session, Bitcoin ETFs recorded a net inflow of $244.42 million across five funds. BlackRock's IBIT dominated with $196.83 million, followed by ARK 21Shares' ARKB at $37.63 million and Fidelity's FBTC at $11.28 million. Vaneck's HODL was the sole fund to see an outflow (-$14.67 million), barely impacting the category's overall positive trend. Total trading volume reached $1.58 billion. Ethereum ETFs also continued their positive run, attracting $60.86 million. BlackRock's ETHA led with $50.34 million. The staking-oriented ETHB and Fidelity's FETH followed. No Ethereum ETF saw outflows. Among smaller tokens, Hyperliquid ETFs saw a minor but notable inflow of ~$966,690, potentially signaling easing selling pressure. Conversely, XRP ETFs experienced a $3.58 million outflow. Solana ETFs saw no net activity. The session solidified Bitcoin and Ethereum as the focal point for institutional capital, with BlackRock as the dominant source of demand, while activity in altcoin ETFs remained volatile.

Crypto analyst Ali Martinez predicts that Ethereum could rise to $3,000. The prediction is based on Ethereum breaking above the key on-chain price level of 0.8 MVRV (Market Value to Realized Value) around $1,800, which has historically signaled a transition from a weak phase to a recovery phase. Martinez notes that Ethereum has returned to the MVRV support level. Past recoveries to this level over the past six years have often led to the asset reaching or exceeding its realized price. Additionally, he highlights a "golden cross" in the MVRV Momentum indicator, comparing Ethereum's returns to its 160-day moving average. Similar signals in the past were followed by rallies of 50% to 166%. Other analysts also foresee a potential rally. Trader Ted Pillows suggested that holding above $1,800 could push the price to $2,000, while Michael van de Poppe indicated that holding that level might lead to a rise to $2,000 and then $2,300. Currently, Ethereum is trading at $1,909, having declined nearly 1% over the past week.

Ethereum's EIP-8363 proposal, aiming to taper and eventually stop issuance rewards once 50% of ETH is staked, has sparked intense debate. Proponents, including authors Justin Drake and Jerome de Tychey, argue the network is overpaying for diminishing security gains, unfairly diluting non-stakers. However, critics from across the ecosystem fiercely oppose it. They contend the proposal could severely damage decentralization by making solo staking uneconomical, disproportionately favoring large institutional players. It's also seen as a threat to DeFi, where staking derivatives are deeply integrated as collateral. Figures like Ether.fi's Mike Silagadze and Aave's Stani Kulechov warn it could destabilize lending markets and drive capital to other yield-bearing assets. Furthermore, critics like Bitwise's Dr. Steve Berryman argue the "problem" of excessive staking is overstated, with market forces naturally capping participation, and that Ethereum's sub-1% inflation is not burdensome. A core criticism is that the change undermines the predictability and stability valued by institutions, creating harmful uncertainty. The rushed publication timeline ahead of a hard fork deadline also drew ire. The backlash highlights the extreme difficulty of altering Ethereum's economic foundations, where any adjustment creates clear winners and losers.