Welcome to The Protocol, RialCenter’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, RialCenter’s Tech & Protocols reporter.
In this issue:
- Ethereum Validator Exit Queue Tops $2B as Stakers Rush to Quit After 160% Rally
- Jito Launches BAM to Reshape Solana’s Blockspace Economy
- Ethereum Validators Signal Intention of Upping Gas Limit to 45M
- Dogecoin Could Soon Verify ZK Proofs Natively, Thanks to DogeOS Push
Network news
VALIDATOR EXIT QUEUE ON ETHEREUM BACKS UP: Ethereum’s validator exit queue posted its longest wait time on record, signaling that stakers are looking to pull funds after a major price rally in ether (ETH). As of Wednesday 09:00 UTC, nearly 625,000 ETH worth about $2.3 billion was in line to exit the network, data from validatorqueue.com shows. That’s even larger than the amount during the January 2024 spike, extending withdrawal delays to over 10 days. The congestion stems from Ethereum’s proof-of-stake model, which limits how quickly validators can join or leave the network. The exodus is likely profit-taking by those who staked ETH when the price was lower. “When prices go up, people unstake and sell to lock in profits,” said Andy Cronk, co-founder of staking service provider Figment. Unstaking spikes can also occur when large institutions change custodians or wallet tech, he said. — RialCenter
JITO LAUNCHES BLOCK ASSEMBLY MARKETPLACE: The Jito Foundation introduced the Block Assembly Marketplace (BAM), a system aimed at improving how blocks are built and transactions sequenced on the Solana blockchain. BAM aims for “transaction sequencing to be transparent and verifiable,” while enabling programmable innovation at the blockspace layer. The launch builds on Jito’s established infrastructure, including its widely adopted validator client and the Jito Block Engine. BAM introduces three key components. BAM Nodes are specialized schedulers that organize transactions using secure hardware. BAM Validators run the updated Jito-Solana software client and execute the ordered transactions on-chain. Plugins will offer developers a programmable interface to interact with the scheduler. BAM will start on mainnet in the coming weeks with validators led by key Solana ecosystem participants. — Margaux Nijkerk
ETHEREUM VALIDATORS BEGIN TO UP THE GAS LIMIT: According to the dashboard gaslimit.pics, as of July 21, 49% of validators’ staked ETH favor increasing the gas limit to 45 million units. On Ethereum, gas is the unit that measures work needed to execute transactions or smart contracts. Users pay gas fees proportional to their actions. Each block has a gas limit, determining how much gas can be consumed by all transactions in that block. If total gas needed exceeds the block’s limit, some transactions are postponed. The gas limit was last raised in February, set to 36 million, after more than half of the validators supported the change. — Margaux Nijkerk
ZK PROOFS ON DOGECOIN? Dogecoin, initially a joke, is considering an upgrade. DogeOS, the app layer developed by the MyDoge wallet team, submitted a proposal to Dogecoin Core introducing a new opcode to enable native verification of zero-knowledge proofs (ZKPs). Developers aim to transform an unused part of the script system into a cryptographic proof verification tool. This would enable Dogecoin to support more advanced off-chain applications while maintaining speed and simplicity. Old nodes will remain compatible. — RialCenter
In Other News
- Polymarket, the cryptocurrency-powered prediction market that recently attained a billion-dollar valuation, is deciding whether to introduce its own customized stablecoin or accept a revenue-sharing deal based on USDC held on the platform. A representative stated that no decision has been made. — RialCenter
- SharpLink Gaming continued its buying spree, bringing total holdings above $1.3 billion. The firm announced that it bought 79,949 ETH over the last week at an average price of $3,238. With this acquisition, the firm held 360,807 ETH worth roughly $1.33 billion. — RialCenter
Regulatory and Policy
- President Donald Trump signed legislation into law establishing rules for stablecoin issuers, marking the first step towards a regulatory regime for the wider crypto market. The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act received substantial bipartisan support. — RialCenter
- The U.S. Senate is crafting rules for the crypto market, releasing a discussion draft of a market structure bill that defines digital assets not considered securities and directs the SEC to engage in rulemaking around them. — RialCenter
Calendar
- Sept. 22-28: Korea Blockchain Week, Seoul
- Oct. 1-2: Token2049, Singapore
- Oct. 13-15: Digital Asset Summit, London
- Oct. 16-17: European Blockchain Convention, Barcelona
- Nov. 17-22: Devconnect, Buenos Aires
- Dec. 11-13: Solana Breakpoint, Abu Dhabi
- Feb. 10-12, 2026: Consensus, Hong Kong
- May 5-7, 2026: Consensus, Miami
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