Ethereum Foundation Shows Progress on P2P Networking as Institutional ETH Buys Rise

Early performance of PeerDAS demonstrates that the Ethereum Foundation can now deliver complex networking improvements at scale, Ethereum co-founder Vitalik Buterin said.

In a post on X late Monday, Buterin acknowledged that one of Ethereum’s longest-standing technical gaps—limited in-house expertise in peer-to-peer (P2P) networking—is finally closing. He noted that Ethereum historically focused heavily on crypto economics, byzantine fault-tolerant consensus, and block-layer research, often taking the network layer for granted.

“But the sentiment has changed,” Buterin wrote, highlighting early PeerDAS results as proof that the Foundation can implement sophisticated networking upgrades, crediting Raúl Jordan and other contributors for getting the system running.

PeerDAS is a prototype for Data Availability Sampling (DAS), a key component of Ethereum’s sharding roadmap. The system allows light clients to verify shard data by sampling small portions, improving scalability while preserving decentralization and security.

Buterin also noted last week that Ethereum still requires a functional on-chain gas futures market. He argued that prediction markets on BASEFEE could give users clearer guidance on future gas costs and allow teams to hedge congestion risk years in advance.

These updates coincide with renewed institutional accumulation of ETH. BitMine Immersion Technologies, Ethereum’s largest corporate holder, purchased 138,452 ETH last week—about $435 million—bringing its treasury to 3.86 million ETH. Chairman Thomas Lee said the firm accelerated purchases following the Fusaka upgrade and in anticipation of easing macro conditions supporting risk assets in early 2026.

BitMine’s recent buying pace follows months of slower accumulation, with the firm framing its purchases as a strategic bet on Ethereum’s execution layer and scaling roadmap rather than short-term positioning.

Whether this institutional demand aligns with Buterin’s push for a stronger P2P networking layer could shape sentiment around Ethereum’s next scaling phase, particularly as debates around future blockspace costs continue to evolve within the community.