Ethereum slips, but blockchain’s next wave is showing up in carbon data and loyalty tokens

NEW YORK, February 10, 2026, 04:42 EST

• Ether slipped roughly 1% to $2,020 early Tuesday. Bitcoin barely budged, hovering close to $99,359.
• Fresh commentary highlights blockchain pilots in emissions reporting, luxury authentication, and tokenised loyalty rewards.
• Earlier supply-chain pushes have exposed the Achilles’ heel here: projects hit a wall if industry-wide support doesn’t materialize.

Ether slipped roughly 1% to trade near $2,019 as of 4:42 a.m. EST on Tuesday, a tepid showing for the token that tends to sit at the center of public blockchain projects involving companies.

Industry leaders are shifting focus from trading to the nuts and bolts—think tracking emissions along supply chains, rolling out digital tokens for loyalty rewards, and authenticating high-end goods through digital certificates.

This has become crucial as investors and regulators ramp up pressure on companies to show climate impact data throughout vast supply networks. Brands, meanwhile, are still searching for greener methods to verify authenticity—and hold on to customers.

Meyka, a market research platform, flagged in a Feb. 10 note that “live pilots” involving luxury authentication, tokenized loyalty points, and verified ESG data could bring more reliable on-chain activity than what’s been seen in previous crypto boom-and-bust cycles. 1

FilmoGaz, in a report dated Feb. 9, described blockchain as a collective record-keeping tool for tracking “Scope 3” emissions—those indirect emissions that fall beyond a company’s direct operations and utilities, spanning everything from suppliers to distribution chains and end-user consumption. 2

Eight key supply chains are responsible for over 50% of global greenhouse gas emissions, the World Economic Forum says. That’s left companies dealing with conflicting spreadsheets and fighting over data, nowhere near a tidy fix. 3

Retail has a knack for showing what works. Back in 2021, Walmart Global Tech’s Archana Sristy pointed out in a company blog post that “Implementing innovative Blockchain solutions helps us get detailed insights into every single event and take informed actions.” She referenced a test where tracing mangoes dropped from nearly a week to just 2.2 seconds. 4

The shipping sector offers a cautionary tale. Back in 2022, Maersk and IBM pulled the plug on their TradeLens blockchain project after struggling to scale it up. “The need for full global industry collaboration has not been achieved,” Maersk executive Rotem Hershko said at the time, acknowledging TradeLens never reached commercial viability. 5

That “beyond crypto” narrative? It’s showing up in Arkansas, too. A report from Arkansas Business, published Feb. 2, points to local firms experimenting with blockchain across logistics, payments, and data management. 6

Fayetteville-based Mycelium Networks is rolling out hardware aimed at improving cell coverage, while settling both usage and revenue via systems tied to blockchain, a 2024 Talk Business & Politics report noted. “We build networks that are connected, and blockchain technology is what allows that to be possible,” CEO and founder Rishi Mittal said in the interview. 7

Still, these aren’t new risks—just familiar pitfalls dressed up differently. While blockchains reliably store records, there’s no guarantee the original data checks out. And when it comes to enterprise projects, the whole thing can unravel if partners won’t agree on standards or are unwilling to give up some control.