Tron and Ethereum Advance the Deployment of Quantum-Resistant Algorithms (Issue 1 · Week 28, 2026)

01Latest Developments

Latest Developments

07-06 BitMine increased its holdings by 42,000 ETH last week, bringing its total holdings to 5.74 million ETH. Its stake in Ethereum rose to 4.8%, with staking rewards amounting to approximately $235 million. On the same day, the total value of liquidations across the network in 24 hours reached $205 million, of which short-position liquidations accounted for over $127 million, while Bitcoin and Ethereum together contributed more than $110 million in liquidations.

07-04 Wang Chun, co-founder of F2Pool, deposited 9,876 ETH into Binance, drawing market attention due to this large-scale capital movement on the blockchain.

07-02 The Wenzhou Public Security Bureau and other authorities published an article in Criminal Technology detailing the procedures for collecting evidence related to Bitcoin and Ethereum, including guidelines for retrieving data from exchanges and freezing assets.

07-01 Citibank lowered its 12-month target prices for Bitcoin and Ethereum to $82,000 and $2,240 respectively, forecasting zero net inflows into ETFs related to these assets over the next 12 months.

06-30 Sharplink purchased 10,000 ETH at an average price of $1,611, increasing its total holdings to 886,000 ETH. Dutch prosecutors have applied to declare the crypto platform Knaken bankrupt in the interest of the public, as the platform went offline at the beginning of June, causing funds belonging to 30,000 users to be stuck.

02Impact Analysis

This tracking indicates that the market’s marginal focus regarding the deployment of quantum-resistant algorithms is shifting from technical expectations to the balance between macro liquidity and regulatory pressures, with overall sentiment showing signs of convergence. There is significant divergence among institutional investors: BitMine increased its Ethereum holdings to 4.8% as of 07-06, generating $235 million in staking rewards, which offsets Sharplink’s purchase of 10,000 Ethereum at an average price of $1,611 on 06-30, demonstrating that the long-term investment strategy remains unchanged. However, short-term selling pressure and bearish expectations have intensified, with Citibank lowering its 12-month target price for Ethereum to $2,240 on 07-01 and predicting that net ETF inflows will drop to zero, thereby reducing the valuation premium resulting from technological upgrades.

Uncertainties related to regulation and compliance have further reduced market risk appetite. On 07-02, Chinese authorities disclosed guidelines for evidence collection and asset freezing related to virtual currencies, raising the compliance costs associated with on-chain fund flows. Meanwhile, the total value of liquidations across the network in 24 hours reached $205 million on 07-06, with over $127 million coming from short-position liquidations, and Ethereum and Bitcoin accounting for more than $110 million of these liquidations, indicating that leveraged funds react sharply to negative macroeconomic factors. Additionally, on 07-01, Dutch prosecutors requested the bankruptcy liquidation of the Knaken platform, resulting in the freezing of assets belonging to 30,000 customers. This highlights the destructive impact of lacking proper regulatory licenses on the industry ecosystem, making the deployment of quantum-resistant technologies unlikely to become a key factor shaping market sentiment in the short term. The industry structure is accelerating its shift toward larger, compliant institutions.

03Keep an eye on it later.

Ongoing Monitoring

1. Monitoring of Large-Scale Capital Flows on the Ethereum Network (Ongoing) Continuously track the ETH transfer activities of key addresses such as Wang Chun, co-founder of F2Pool. If there are again daily ETH transfers worth over $17 million to centralized exchanges like Binance, caution is needed regarding the risk of selling pressure.

2. Changes in Institutional Holdings and Fluctuations in Staking Rewards (Ongoing) Monitor changes in the holding proportions of institutions like BitMine, with a focus on their 4.8% ETH holdings and staking rewards of around $235 million to see if they experience significant adjustments due to market fluctuations.

3. Regulatory Compliance and Progress in Bankruptcy Proceedings (New) Track the progress of the Dutch prosecution’s bankruptcy proceedings and criminal investigations against the Knaken platform, especially the disposal plans for the assets of its 30,000 customers. Assess the potential impact of these developments on the compliant operation of crypto platforms.

4. ETF Capital Flows and Target Price Adjustments (New) Observe the market reaction following Citibank’s reduction of its 12-month target price for Ethereum to $2,240. Pay close attention to whether its prediction that “net ETF inflows over 12 months will drop to zero” holds true.

5. Market Liquidation Risk Thresholds (New) Monitor the total value of liquidations across the network on a 24-hour basis. If the scale of short-position liquidations approaches $127 million again, with Bitcoin and Ethereum together accounting for over $110 million, measures should be taken to prevent severe market volatility.

04Related Reads

1. “BitMine Increased Holdings by 42,000 ETH Last Week, Bringing Total Holdings to 5.74 Million”
2. “Total Liquidation Amount across the Network in 24 Hours Reaches $205 Million; Short Positions Dominate”
3. “F2Pool Co-Founder Wang Chun Deposits 9,876 Ethereums at Binance”
4. “Chinese Police Reveal Methods for Tracking and Seizing Cryptocurrencies”
5. “Goldman Sachs Lowers Bitcoin Target Price to $82,000”
6. “Sharplink Increases Ethereum Holdings by 10,000 Units and Repurchases 2.13 Million Shares”
7. “Dutch Prosecutors Request Knaken’s Bankruptcy on Grounds of Public Interest”
8. “Dutch Prosecutors Seek Bankruptcy Resolution for Crypto Platform Knaken”