Ethereum developers are discussing a new token standard called pERC‑20. It would let users hold and transfer tokens without publicly revealing balances, transaction amounts, or counterparties.
Meanwhile, ConsenSys CEO Joe Lubin predicted Ethereum will transition to ZK technology within three to five years. Against that backdrop, Tom Lee’s Bitmine bought 125K ETH▼$1,632.89 for $205M in just three days—despite sitting on nearly $10B in unrealized losses.
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pERC‑20 and ZK Tech: How Ethereum Is Solving the Privacy Problem
Unlike standard ERC‑20 tokens, pERC‑20 tokens would work like encrypted cryptographic “notes.” The total supply would remain visible so the network can verify that no new tokens are being minted in secret.
The privacy conversation is heating up again thanks to new solutions like Starknet’s STRK20. The vision now goes beyond private transfers to confidential DeFi—swaps, staking, lending, and other on-chain operations.
ConsenSys CEO Joe Lubin told The Block that integrating zero-knowledge proofs and improving network interoperability will reboot the current ecosystem roadmap. In his view, developers should focus on increasing the main blockchain’s throughput through the Lean Ethereum project, proposed by Ethereum Foundation researcher Justin Drake.
Read more: Best Privacy Coins 2026 — Why Monero, Zcash & DASH Are Making a Comeback
“We always knew zero-knowledge proofs would be important. We thought they’d first become meaningful on Layer 2. And we were right,” Lubin said.
He expects Ethereum (ETH) to transition to a ZK-proof-based protocol within three to five years. That would unify fragmented liquidity into a single execution environment without cross-chain bridges.
Bitmine Accelerates ETH Buying: 125K Coins in 3 Days
According to Lookonchain, Bitmine bought 25K ETH on June 10, worth about $41M. Over the past three days, the company has purchased 125K ETH for $205M. Bitmine hasn’t officially confirmed these buys yet—it typically discloses data weekly—but the figure is in line with last week’s reported acquisition of 126,971 ETH for $207M.
Bitmine’s total treasury portfolio has now reached 5,543,872 ETH—4.59% of Ethereum’s circulating supply. The company is closing in on its 5% target.
Bitmine’s unrealized loss across all positions is estimated at $9.9B. Company chairman Tom Lee said the current drop doesn’t reflect Ethereum’s fundamentals, which is why the firm is accelerating its purchases.
Meanwhile, ether is down more than 44% since the start of the year, trading around $1,650. Over the past 24 hours, the token’s price rose 2%. Over the past seven days, it fell 6.5%.
Learn more: Best Ethereum Tokens and Projects to Invest in 2026
