@LeonWaidmann
An on-chain analyst who reads Ethereum's supply data — staking, exchange balances, corporate treasuries — and almost always reads it bullish. That worked at the June lows: “Hard to find a cleaner bottom signal than this!” came at $1,621 on 11 June, before a 71.2% rise. It failed in May: “I am bullish ETH here” came at $2,339, before a 33.0% fall.
In short. Leon Waidmann posts on X as @LeonWaidmann to about 13,000 followers. Most posts are charts of Ethereum network data with a bullish reading; a few say outright what that means for price. On our sample of six such posts from 1 April to 14 August — one on Bitcoin, five on Ethereum — the record is 4 played out, 1 went against, 1 open. His 1 April Bitcoin call, his 3 June and 11 June Ethereum calls near the lows and his 9 July “undervalued” post played out. His 12 May “bullish ETH here” went against. His 14 August call that Ethereum would beat Bitcoin is open.
Leon Waidmann has been on X since December 2013 and has about 13,000 followers. His bio tags @Lisk, and news write-ups of his posts call him Lisk's head of research or head of business development. His Linktree links to research from Onchain AG, a German-language podcast called BlockBlick, his articles for the German crypto site BTC-ECHO and a free Substack, On-Chain Insights, whose last post was in November 2023.
His method is on-chain supply data: the share of ETH staked, ETH and BTC balances on exchanges, corporate ETH treasuries, stablecoin supply and network activity, most of it charted from Glassnode, CryptoQuant, Token Terminal and growthepie. Nearly every post ends on a bullish note. In the six months we read we found no bearish price call, which his bio's “Delusional Optimist” makes no secret of.
This page grades posts that make a claim about price: a recovery, a bottom, “bullish ETH here”, “undervalued”, or Ethereum beating Bitcoin. We left out the many data posts that end with only “Bullish.”, and a 15 October post saying he “wouldn't be surprised to see NEW ALL-TIME HIGHS in the coming months”, because it sits under a chart of application revenue and does not say whether he means price. One factual slip: on 26 September he wrote “ETH is back near $3,000”; that day's mark was $2,691.
Sources: x.com/LeonWaidmann (captured via api.fxtwitter.com) · linktr.ee/LeonWaidmann · lisk.com · CoinGecko
Supply first, price later. Leon Waidmann argues that ETH leaving exchanges and going into staking must, in time, push price up. In June and July, with ETH near its lows, that reading was right: three posts from 3 June to 9 July came before rises of 49% to 71%. In May it was early: the same kind of data came before a 33% fall. Because he rarely turns bearish, his posts are more useful as a read on long-run supply than as timing.
Bullish throughout. Every post we read from April to October was bullish on Ethereum, and from August he said he favoured Ethereum over Bitcoin.
Six dated posts from @LeonWaidmann — one on Bitcoin, five on Ethereum — each captured verbatim from X and charted against real price. The tally is 4 played out, 1 went against, 1 open. The 1 April Bitcoin recovery call, the 3 June and 11 June Ethereum calls and the 9 July “undervalued” post played out. The 12 May “bullish ETH here” post went against. The 14 August call that Ethereum would beat Bitcoin is open.
“If demand returns, ETH has the stronger setup for a potential supply squeeze. One reason I’m increasingly bullish on ETH over BTC.”
Posted at $1,884, with Bitcoin at $63,429. Both rose to their highest marks on 22 September: Ethereum to $2,775 (+47.3%), Bitcoin to $86,597 (+36.5%). Since then Ethereum has given back more. It sits at $2,426 (+28.7%) against Bitcoin's $81,512 (+28.5%), so the lead is gone. He repeated the call on 28 August at $2,511; Ethereum is −3.4% since then and Bitcoin +1.5%. No date was given — open.
𝕏 Post“increasingly bullish on ETH over BTC” — @LeonWaidmann on X↗ x.com“Ethereum seems highly undervalued! For the first time in history, the value locked ON Ethereum is bigger than the value OF Ethereum itself!”
Posted at $1,742. Ethereum never closed lower after the post. It rose to $2,775 (+59.3%) on 22 September and sits at $2,426 (+39.2%). Played out.
𝕏 Post“Ethereum seems highly undervalued!” — @LeonWaidmann on X↗ x.com“Staking Rate at all-time high! Staking Exit queue at 0! Price at Cycle lows! Hard to find a cleaner bottom signal than this!”
Posted at $1,621. Ethereum rose to $1,795 (+10.7%) on 16 June, then dipped to $1,566 (−3.4%) on 26 June, its lowest mark this year. From there it rose to $2,775 (+71.2%) on 22 September. It sits at $2,426 (+49.7%). The low came 15 days later and only 3.4% lower — played out.
𝕏 Post“Hard to find a cleaner bottom signal than this!” — @LeonWaidmann on X↗ x.com“ETH price is stuck near $1.9K. Everyone's bearish. The onchain data tells the opposite story!”
Posted at $1,858. Ethereum first fell to $1,566 (−15.7%) on 26 June and closed back above the post price on 15 July. It then rose to $2,775 (+49.3%) on 22 September and sits at $2,426 (+30.5%). Early by about a month, then right — played out.
𝕏 Post“The onchain data tells the opposite story!” — @LeonWaidmann on X↗ x.com“The fundamentals are catching up. The chart is setting up. I am bullish ETH here.”
Posted at $2,339, with a chart showing what he called “classic accumulation before a major move”. Ethereum never closed higher until 22 August. It fell to $1,566 (−33.0%) on 26 June, later reached $2,775 (+18.7%) on 22 September, and sits at $2,426 (+3.7%). The major move came, but downward first — went against.
𝕏 Post“I am bullish ETH here.” — @LeonWaidmann on X↗ x.com“Every major BTC recovery started exactly like this. Buyers are loading. Watch closely.”
Posted at $68,107, on a chart of stablecoins flowing back onto exchanges. Bitcoin rose to $82,018 (+20.4%) on 11 May, then fell to $58,566 (−14.0%) on 1 July. It went on to $86,597 (+27.1%) on 22 September and sits at $81,512 (+19.7%). The recovery came, with a deep dip in the middle — played out.
𝕏 Post“Buyers are loading.” — @LeonWaidmann on X↗ x.comOutcomes are our read of the stated claim against real price. None of these posts names a target or a date, so we graded the direction that followed. Every quote is a verbatim X post, linked on its card and reproduced in full in the verified corpus; emojis at the end are left out. Prices are CoinGecko daily marks taken at 00:00 UTC, so a post is measured from the mark at the start of its day, and intraday highs and lows do not show. Near-term marks can flip.
Leon Waidmann does not sell a course or a signals group that we found. Here is what we did find.
His X bio tags @Lisk. Lisk's own site describes a money-operations product for finance teams built around stablecoins, with crypto holdings on Base, Coinbase's Ethereum layer-2. Many of his posts chart stablecoin and Ethereum growth, which is good news for that business.
His Substack, On-Chain Insights, has no paid tier; its last post was in November 2023.
His Linktree links to his articles for BTC-ECHO and to the German-language BlockBlick podcast. We did not find whether he is paid for them.
“Hard to find a cleaner bottom signal than this!”
11 Jun 2026 · before a 71.2% rise“I am bullish ETH here.”
12 May 2026 · before a 33.0% fall“Ethereum seems highly undervalued!”
9 Jul 2026 · Ethereum never closed lowerQuotes transcribed from his own public sources; stated views, not recommendations.
Leon Waidmann posts on-chain charts on X almost daily. We graded X posts only.
An on-chain data analyst who posts as @LeonWaidmann on X to about 13,000 followers. His bio tags Lisk, and he has written for the German crypto site BTC-ECHO. Most of his posts chart Ethereum staking, exchange balances and stablecoin data.
On our sample of six dated posts from April to August 2026: four played out, one went against, one is still open. His June and July Ethereum calls near the lows did best; his 12 May “bullish ETH here” came before a 33% fall.
Bullish. Every post we read from April to October was bullish on Ethereum, and since August he has said he prefers Ethereum to Bitcoin.
We found no paid product. His Substack is free and has been quiet since 2023. His bio tags his employer, Lisk, which runs a stablecoin product.
Leon Waidmann trusts the supply data over the price chart. How close is your instinct? Measure it for real with a Trader Passport.
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Informational and educational analysis based strictly on publicly available materials: dated X posts captured from X's public endpoints, public profile pages and the sources linked on each call. Not financial or investment advice. Figures are approximate and change constantly. Spotted an error, or are you Leon? Submit a correction →
Verified handles · Sources cited above · Scoring methodology · Updated 17 October 2026
