Cryptominium
Position Statement
As at 1 October 2026, 07:09 UTC · Reference RVP-FV4D-DKYL
A measurement, not a valuation. Not tax, legal or financial advice.
Sample. The amount is the largest token holding at the ENS DAO’s public treasury address when the sample was made, which anyone can read on the chain. Nobody asked for it and nobody paid for it.
The position
8,632,326.60 ENS · Ethereum Name Service
A stated amount. The amount was stated by whoever ordered this statement. This statement shows nothing about who holds these tokens, or whether anyone does.
- Ethereum:
0xc18360217d8f7ab5e7c516566761ea12ce7f9d72
At the price CoinGecko reported, $7.03 a token, the amount was quoted at $60,685,256. Each market below is measured against its own price at that moment, so its quoted figure can differ a little from this one.
Two kinds of market, shown apart
An on-chain sale needs only the tokens and the network fee. An exchange order book needs an account there, its checks passed, a country it serves, and the tokens already deposited. They are different things, so each is measured on its own. The figures below must not be added together or averaged.
On-chain: Ethereum
Quotes taken at about block 26,095,878 on Ethereum.
- Quoted value of the amount
- $61,054,860 at $7.0728 a token, the pools’ own price
- Sold in one sale, it would have returned
- $341,293 99.4% lost on the way out
The same token at five sizes
| Size | Tokens | Quoted value | Would have returned | Lost |
|---|---|---|---|---|
| 1% of it | 86,323.27 | $610,549 | $233,685 | 61.7% |
| 3.2% of it | 272,978.14 | $1,930,724 | $299,098 | 84.5% |
| 10% of it | 863,232.66 | $6,105,486 | $327,353 | 94.6% |
| 31.6% of it | 2,729,781.36 | $19,307,242 | $337,763 | 98.3% |
| The whole amount | 8,632,326.60 | $61,054,860 | $341,293 | 99.4% |
How much could have been sold
Even the smallest size quoted, $610,549, lost more than 10%. How much could have been sold within a smaller loss lies below that size, and was not measured.
- 7 pools of any size held this token on Ethereum, across 3 exchange protocols. The largest held 50.1% of the liquidity.
- This token trades mostly where an on-chain quote cannot see: its reported daily volume was 22 times its on-chain liquidity. The figure above is for an on-chain sale only.
- Confidence in this measurement, as our Sellability check labels it: medium.
Order book: Kraken
ENS/USD. 90 bid levels read. Best bid $7.03.
- Quoted value of the amount
- $60,685,256 at Kraken’s best bid
- The bids we read covered
- $228,211 of the $60,685,256 quoted
The book was not deep enough for the whole amount. Selling into every bid we read would have returned $93,588. The rest had no bid in the book at that moment. No return is stated for the whole amount.
How much could have been sold
- With under 1% lost: about $59,147
- With under 3% lost: about $61,595
- With under 5% lost: about $74,373
- With under 10% lost: about $74,715
Worked out from the bids themselves, against the best bid.
An order book is the bids standing at one moment. It needs an account at Kraken, its checks passed, a country it serves and the tokens already deposited there, and the figures are before its trading fees.
Order book: Coinbase
ENS/USD. 203 bid levels read. Best bid $7.04.
- Quoted value of the amount
- $60,771,579 at Coinbase’s best bid
- The bids we read covered
- $67,443 of the $60,771,579 quoted
The book was not deep enough for the whole amount. Selling into every bid we read would have returned $57,966. The rest had no bid in the book at that moment. No return is stated for the whole amount.
How much could have been sold
- With under 1% lost: about $25,854
- With under 3% lost: about $34,585
- With under 5% lost: about $34,679
- With under 10% lost: about $36,275
Worked out from the bids themselves, against the best bid.
An order book is the bids standing at one moment. It needs an account at Coinbase, its checks passed, a country it serves and the tokens already deposited there, and the figures are before its trading fees.
Exchanges read, and not read
- Read: Kraken and Coinbase.
- Binance was not read: its order book cannot be reached from our servers.
- No other exchange was read. A market on one of them is not on this statement.
What is not on this statement
- Who holds these tokens, or whether anyone does. No balance was read.
- Network fees, exchange trading fees, and any tax the token’s own contract takes on a sale.
- A sale made in several parts or over time, which would have returned a different amount.
- Any chain or exchange not named above.
How it was made
- Nothing was sold. No wallet was connected and nothing was signed.
- On each chain, the amount and four smaller sizes were quoted for a sale into USDC by live routing through the pools.
- A size whose quote contradicted a larger one, or came back above the pools’ own price, is shown as not quoted.
- On each exchange, the standing bids were read once and the amount was walked down them from the best bid.
- “Lost” is the difference between the quoted value and the return, as a share of the quoted value.
- This is the measurement our free Sellability check makes, kept. The method is published at https://cryptominium.com/methodology.
What this statement does not say
It is not a valuation, an appraisal or an audit, and it does not set a figure for tax. It is not evidence that anyone holds the amount stated. Whether a realizable figure may be used for a given purpose is a question for a qualified adviser. A sale made at another moment, in another size, or in several parts would have returned a different amount. Cryptominium measured; it did not advise, and it holds no assets for anyone.
Checking this copy
Reference RVP-FV4D-DKYL. This statement is kept at https://cryptominium.com/statement/position/sample. Enter the reference or the fingerprint at https://cryptominium.com/statement/verify to confirm it was issued by Cryptominium and has not been changed.
SHA-256 001854e7c35bdecf266c25301cde0e44f8a6334c905341dbedbfcba40fb38b57