Why Ethereum's Biggest Upgrade Since the Merge Has Whales Buying Millions




Ethereum is going through one of its most important development phases right now, and the smart money appears to be paying attention. The Glamsterdam upgrade, planned for the second half of 2026, just entered its final devnet testing stage with ten Ethereum Improvement Proposals locked in for inclusion.

The two headline changes are massive. Enshrined Proposer-Builder Separation will move block building duties directly into the Ethereum protocol, removing the need for trusted third-party relay software. Block-Level Access Lists will allow the network to know which accounts a transaction will touch before it runs, opening the door to parallel transaction processing instead of the current one-by-one method.

What makes this moment interesting is who is buying. BitMEX co-founder Arthur Hayes has purchased over $10 million in ETH across three separate transactions in just four days. His wallet received 3,000 ETH on June 15, another 1,400 ETH on June 17, and 1,500 more ETH on June 18. All while ETH trades near $1,750, well below where many expected it to be by mid-2026.

Hayes recently sold positions in several altcoins but kept Ethereum as a core holding throughout. In a June thesis, he projected ETH could reach $10,000 to $20,000 before this cycle ends.

The Glamsterdam upgrade also includes a gas repricing overhaul that could make simple ETH transfers up to 71% cheaper and a state creation cost adjustment to prevent database bloat as the network scales.

For the full breakdown of every EIP included in Glamsterdam, how Hayes timed his purchases, and what the upgrade means for ETH holders, read the complete analysis on CryptoNewsLive.org.

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