This week, the market received several signals that are redefining the current dynamics. Ethereum announces a radical restructuring, the Fed tightens monetary policy, Strategy sells part of its reserves for the first time in a long while, and Solana tries to maintain a balance between institutional growth and memecoin chaos. Let's break down the key events.
Ethereum: A New Roadmap and Abandoning the EVM
Vitalik Buterin presented an updated concept of Lean Ethereum — the third major iteration of the network. The focus is on quantum resistance, privacy, and a fundamental restructuring of data storage. However, the boldest proposal is the potential abandonment of the Ethereum Virtual Machine (EVM) in favor of RISC-V or leanISA architectures. Block verification would then shift to recursive STARK proofs. This is not just an upgrade, but a change in the network's philosophy. If the plan is implemented, Ethereum could become one of the first major platforms ready for the post-quantum era.
The Fed: Hawkish Pivot and Threat to Miners
The minutes of the June FOMC meeting show a sharp tightening of sentiment within the U.S. regulator. The majority of committee members no longer expect a key rate cut by the end of the year, and several participants directly advocated for a rate hike. Interestingly, the boom in AI investments is mentioned as one of the factors behind persistent inflation — a chip shortage, rising equipment costs, and data center construction. This creates additional pressure for the crypto industry: miners find themselves in direct competition with AI giants for cheap electricity. Under such conditions, the profitability of Bitcoin mining could decline even further.
Strategy Sells Bitcoin: A Precedent Set
Strategy sold 3,588 BTC for $226 million. The official explanation is the need to finance quarterly dividends on preferred shares. This is the first time the largest corporate holder of Bitcoin has used part of its reserve as a financial instrument. An important signal: the reserve ceases to be a "sacred cow" and can be utilized for operational activities. Meanwhile, Bloomberg reports that the process of creating a U.S. strategic Bitcoin reserve has stalled — there is no agreed-upon management model, storage mechanisms, or clear departmental authorities. The irony is that the private sector has already begun to act, while the state is still discussing the concept.
Solana: Identity Split
By 2026, Solana finds itself in a paradoxical situation. On one hand — corporate payment products and institutional integrations; on the other — toxic memecoin schemes and wash trading. The network's main bet is the agent economy: autonomous AI systems need fast, cheap, and programmable payments, and technically, Solana is indeed better prepared for this than its competitors. However, the narrative crisis associated with memecoins will not resolve itself. The market will have to choose which Solana it actually needs.
My comment: The observed week is a classic example of "trend intersection." Ethereum is laying the foundation for decades to come, the Fed is restoring rigidity, Strategy is demonstrating that even "sacred" reserves can be liquid. And Solana is trying to outgrow its reputation. For investors, this is a time not for panic, but for reassessing risks and horizons.