Ethereum Sets Oct. 6 Sepolia Upgrade as QNT Whales Move $9.93M
The market roundup also includes a ZEC trading loss, Binance contract changes, a Bitcoin MVRV recovery and a sharp gold decline.
The Ethereum Foundation will activate the Glamsterdam upgrade on Ethereum’s Sepolia testnet Oct. 6, while crypto markets also saw large QNT transfers, a major ZEC trading loss and changes to perpetual-contract terms.
The Sepolia event marks the next public-testnet step for Ethereum’s Glamsterdam upgrade. Glamsterdam is a protocol upgrade, so Ether (ETH) holders will not need to convert or upgrade their holdings.
Two dormant whales moved more than 42,400 Quant (QNT) tokens valued at $9.93 million after more than three years of inactivity.
A whale lost more than $450,000 after taking a five-times leveraged long position in Zcash (ZEC) worth $5.8 million.
Binance will adjust leverage and margin requirements for multiple U-margined perpetual contracts.
Bitcoin (BTC) long-term holders’ market-value-to-realized-value ratio rose to 1.35, returning the group to an overall profitable position.
Gold recorded an unusually sharp decline compared with the past two decades as rising U.S. Treasury yields disrupted precious-metals markets. Gold stabilized and rebounded, although pressure remained as markets awaited U.S. economic data.
The Smarter Web Company received shareholder approval to launch MORE, described as the United Kingdom’s first Bitcoin-backed preferred stock.
The next defined step for Glamsterdam is its activation on Sepolia on Oct. 6.
