Ethereum Treasury Stock ETHZilla Surges on Influencer Backing and Strategic Asset Moves

ETHZilla (ETHZ), an Ethereum-based treasury stock, experienced a significant 14% price surge following endorsement from prominent investor Dimitri 'Capybara Stocks' Semenikhin, known for his involvement in the Beyond Meat meme stock phenomenon. The rally was triggered by Semenikhin's disclosure of acquiring a 2.2% stake in the company, highlighting the substantial discount between ETHZilla's market capitalization and its underlying net asset value as the core investment thesis. This strategic move by an influential figure in the crypto and traditional markets underscores growing institutional confidence in Ethereum-related financial instruments. The company's recent announcement of a $40 million Ethereum sell-off represents a pivotal moment in its treasury management strategy, potentially signaling either profit-taking or portfolio rebalancing amid evolving market conditions. This substantial transaction coincides with increased attention toward Ethereum-based investment vehicles that bridge traditional equity markets with digital asset exposure. The timing of Semenikhin's investment, coupled with ETHZilla's active treasury management, suggests a maturation phase for cryptocurrency-linked securities as they gain recognition from crossover investors who previously focused on traditional market opportunities. This development reflects broader trends in the cryptocurrency sector where established financial instruments are increasingly intersecting with digital asset innovations. ETHZilla's unique position as an Ethereum treasury stock provides investors with regulated exposure to Ethereum's ecosystem while maintaining corporate governance structures familiar to traditional equity participants. The 14% surge following Semenikhin's endorsement demonstrates how influencer credibility and fundamental valuation disparities can rapidly impact pricing in this emerging asset class, potentially setting precedents for how cryptocurrency-linked securities will be evaluated and traded in coming years as blockchain technology continues to reshape global financial markets.

ETHZilla Shares Surge 14% After Backing from Beyond Meat Investor

ETHZilla (ETHZ), an ethereum treasury stock, saw its shares jump 14% on Monday following public support from Dimitri 'Capybara Stocks' Semenikhin, a notable influencer in the Beyond Meat (BYND) meme stock rally. Semenikhin disclosed a 2.2% stake in the firm, citing the steep discount between its market cap and net asset value as the primary reason for his investment.

The company announced a $40 million Ethereum sell-off to fund share buybacks, a move directly influenced by Semenikhin's advocacy. His involvement draws parallels to Keith 'Roaring Kitty' Gill's role in the 2021 GameStop rally, marking another instance of retail investor influence on asset valuations.

ETHZilla's momentum continued after hours, extending gains from late last week. Semenikhin's pivot from BYND to ETHZ highlights a broader trend of traders seeking value in crypto-adjacent equities amid cooling meme stock fervor.

Ethereum Supply Dwindles on Exchanges as Breakout Looms

Ethereum's quiet strength contrasts with a cooling broader crypto market. Exchange reserves of ETH have plummeted, with Binance seeing an outflow of 820,000 ETH since late August—worth roughly $3.2 billion at current prices. This marks the lowest reserve level on the platform since May 2025.

Historical patterns suggest such drawdowns precede rallies. A similar depletion in May preceded a $1,000 price surge within weeks. The current exodus from exchanges signals long-term holding strategies and anticipation of higher valuations, reducing immediate sell pressure.

Binance's ETH reserves now stand at 3.87 million, down from 4.69 million two months ago. When assets migrate from trading platforms to private wallets, it typically reflects investor confidence in future appreciation rather than imminent liquidation.

MegaETH Token Sale Raises $50M in Minutes at $1B Valuation

MegaETH's token sale hit $50 million in commitments within five minutes of launch, achieving oversubscription at a fully diluted valuation of $1 billion. The Ethereum LAYER 2 project's rapid fundraising underscores growing investor demand for scaling solutions amid network congestion and high gas fees.

The sale, running through October 30, offers discounts for locked-up commitments and requires identity verification to ensure fair participation. MegaETH emphasizes community involvement with capped individual allocations, contrasting with traditional institutional-heavy raises.

This follows other successful Ethereum infrastructure fundraisers like Plasma's $373 million July round, demonstrating sustained capital inflow into Layer 2 solutions despite market volatility. The sector continues attracting attention as projects compete to solve Ethereum's throughput limitations.

MetaMask Airdrop Speculation Intensifies with New Claim Site

Speculation about a potential MetaMask airdrop has surged after the discovery of a new domain, claim.metamask.io. The password-protected portal has fueled rumors that Consensys may be preparing to distribute the long-rumored MASK token.

The site's design aligns with MetaMask's ecosystem, though no official confirmation has been provided. This development coincides with the launch of MetaMask Rewards, a loyalty program incentivizing on-chain activities like token swaps and bridging on Linea, Consensys' Ethereum Layer-2 network.

Earlier this month, MetaMask announced a $30 million rewards initiative, further stoking expectations of an impending airdrop. Community sentiment remains bullish as observers connect these developments to potential token distribution.

MetaMask Token Speculation Intensifies as Prediction Market Odds Surge

Betting activity on Polymarket reflects growing conviction in a potential MetaMask token launch, with implied probability reaching 34% this week. The Ethereum wallet's parent company Consensys has stoked expectations through executive comments and on-chain clues.

CEO Joe Lubin's September remarks about decentralization efforts "sooner than you'd expect" gained fresh relevance when users discovered a secured Vercel page at claim.metamask.io. While unconfirmed, the developer tool's involvement suggests controlled testing of reward mechanisms.

Market observers note the convergence of three factors: rising prediction market volume, Consensys' strategic patent filings for Web3 payment systems, and coded references to 'mUSD' in recent client updates. The potential integration of a stablecoin with MetaMask's planned debit card could create a self-contained financial ecosystem.

ETHZilla Executes $40M ETH Sale to Fund Share Buyback, Narrowing NAV Gap

ETHZilla, a Nasdaq-listed Ethereum treasury firm, has sold $40 million worth of ETH from its reserves to repurchase approximately 600,000 shares for $12 million. The MOVE aims to reduce the disparity between its stock price and net asset value per share, which reflects the market value of its Ethereum holdings.

The company's shares surged over 14% following the announcement. ETHZilla's strategy targets opportunistic buybacks while its stock trades below NAV, effectively decreasing share supply and increasing the proportional claim on assets for remaining shareholders.

Net Asset Value serves as a critical metric for crypto treasury firms, particularly those with substantial digital asset reserves like ETHZilla. The buyback program underscores the growing institutional sophistication in managing crypto-native balance sheets.