Category Archives: Ethereum
The Funding: Ethereum restaking, DePINs, Bitcoin ecosystem and RWA tokenization lead crypto VC trends – The Block
Deals May 4, 2024, 1:42PM EDT Published 1 minute earlier on
Crypto venture capital funding has seen a notable resurgence this year, with investors injecting over $4 billion into startups. Four areas, in particular, have witnessed increased investment activity: Ethereum restaking, DePINs (decentralized physical infrastructure networks), the Bitcoin ecosystem, and RWA (real-world asset) tokenization.
Ethereum restaking, a relatively new vertical, has grown substantially this year thanks to its pioneering protocol, EigenLayer.
EigenLayer facilitates the restaking of ether (ETH) and liquid staking tokens with validators in other blockchain networks, enabling users to earn additional rewards. In less than a year, the protocol has accumulated nearly $15 billion worth of assets. EigenLayer's success has spurred the launch of several EigenLayer-based liquid restaking platforms, which have collectively garnered over $9 billion in assets.
All three leading EigenLayer-based Ethereum liquid restaking protocols Ether.Fi, Renzo and Puffer Finance have raised funding this year. In February, Ether.Fi raised a $27 million round co-led by Bullish and CoinFund. Puffer Finance followed suit with an $18 million Series A round in April, co-led by Brevan Howard Digital and Electric Capital, bringing its valuation to $200 million, as reported exclusively by The Block at the time. Renzo, meanwhile, raised $3.2 million in seed funding led by Maven11 in January, valuing it at $25 million at the time. Both Puffer and Renzo received additional funding from Binance Labs recently.
Secondly, DePIN projects are gaining traction, particularly those operating on the Solana blockchain. Several DePIN projects, including Io.net, peaq, IoTex, Natix, andSendingNetwork, have all raised funding in recent months. Io.net, for instance, reached a$1 billion token valuation in March, two sources told The Block at the time. DePIN projects leverage blockchain technology to decentralize their physical hardware infrastructure and incentivize users with tokens for expanding their networks. As of April this year, around 70 projects have collectively raised about $192 million across the DePIN and DeAI (decentralized artificial intelligence) categories, per The Block Pro's Funding Dashboard.
The Bitcoin ecosystem is rapidly expanding, too, with startups building on the network witnessing increased investment activity. So far in 2024, there have been more Bitcoin ecosystem-related deals than in all of 2023 81 deals year-to-date compared to 77 in 2023 according to The Block Pro's Funding Dashboard.
Last but not least, the tokenization category is also gaining popularity, with several startups in this vertical including Securitize, Centrifuge and Backed all securing funding in recent months. Over 25 tokenization-related startups have raised a total of $80 million this year as of April, according to the dashboard.
To subscribe to the free The Funding newsletter, click here.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Originally posted here:
Ethereum Forecast Today -08/05: Stable at Support (Chart) – DailyForex.com
Keep in mind that Bitcoin will continue to lead the way when it comes to anything crypto currency related, and that of course includes Ethereum. In general, this is a market that I think short-term pullbacks will continue to look attractive, and therefore its likely that we will continue to see plenty of buyers willing to step in and take advantage of cheap Ethereum. If we break above the 50-Day EMA, which sits just below the crucial $3200 level, then we could continue to go higher.
In general, this is a market that I think continues to be very noisy, and therefore I think you do have to look at dips as buying opportunities, but if we were to break down below the $2800 level, then we have to have a situation where we could drop down to the 200-Day EMA, but you also need to see the Bitcoin market drop down below its recent support level. All things being equal, this is a market that I think is noisy, and I do think that there are plenty of supporters here, but I also recognize that is not necessarily going to be an easy trade.
If we were to turn around a break above the $3325 level, then its likely that the market goes looking to the $3600 level, followed by the $4000 level. The $4000 level was a swing high, and although we have been there before, you have to keep in mind it would be a 25% gain from where we are right now, so it may take some effort to make that move. As things stand right now, I dont have any interest in trying to short crypto in general.
For additional & up-to-date info on crypto brokers please see our best crypto brokers list.
Here is the original post:
Ethereum Forecast Today -08/05: Stable at Support (Chart) - DailyForex.com
Optimism Leads New Crypto Wave as it Tops Developer Activity Table, Thanks to Ethereum Dencun Upgrade – CCN.com
Key Takeaways
Ethereums efficiency-focused Layer-2 (L2), Optimism, is now the leading protocol by developer activity and 7-day net flows following Ethereums Dencun upgrade. This move comes less than two years after the platforms launch.
It has beaten Cardano, Polkadot, and other reputable chains that have long-dominated the market. But can Ethereums upgrades continue to boost Optimisms capabilities and vice versa?
Developer activity on Ethereums L2 scaling platform, Optimism, has pushed it to the top of the rankings according to the latest data from Santiment.
Optimism is a comparatively young product. Within a couple of years since launching its Open Mainnet, its overtaken the likes of Polkadot, Kusama, Hedera, and even Cardano. According to DeFi Llama, the number of core developers and Github commits has now begun to skyrocket, whilst total-value-locked (TVL) continues a steady and healthy climb.
The Optimism protocol was already proving itself popular among L2s, as evidenced by the 300,000+ transactions a day processed on its mainnet throughout 2023, and the spike of activity on March 2024 following Ethereums Dencun upgrade.
L2 platforms on Ethereum, which were struggling under the weight of the networks bottlenecks, received a huge boost in efficiency following the Dencun (EIP-4844) upgrade.
Among Dencuns numerous upgrades were new ways of processing transactions and handling data. These were proto-danksharding and Data Blobs.
With these in place, gas fees for L2 transactions shrunk considerably. According to Dune, the gas volumes consumed to settle/proof L2 activity on Ethereum fell off a cliff following the upgrade.
Considering Optimism is an L2 designed to help other projects scale on Ethereum, it was already markedly cheaper than other protocols. The Dencun upgrade amplified that efficiency even further, which is a huge draw for developers.
With the Bitcoin Halving and Dencun upgrade behind us, investors are beginning to feel confident in the markets once more. Notably, Optimism is also leading the charge in terms of venture capital funding having secured $89 million in a recent private token sale.
Furthermore, the latest seven-day net flow data shows that Optimism is consuming a large portion of Ethereums net flows.
If Ethereum continues to focus on increasing its efficiency, Optimism may continue to dominate L2 developer activity.
Was this Article helpful? Yes No
Read this article:
Ethereum price data points to strong resistance at $3.5K – Cointelegraph
Ether (ETH) experienced a significant drop of 14.8% between April 13 and April 14 and has since been trading below $3,300. Each time the price of ETH tested the $3,000 level, buyers intervened, strengthening the support. However, some traders remain concerned that ETH might not reclaim $3,500 without a stronger narrative.
Analyst DeFiSurfer808 suggests that Ether's price weakness compared to Bitcoin (BTC) stems from a lack of fresh fundamentals, as the Ethereum native token lacks "some new narrative and flows."
Over the past two months, Ether underperformed Bitcoin by 16%, a trend that intensified on April 9 after Jan van Eck, the chief investment officer of VanEck investment firm, mentioned that U.S. requests for a spot Ether ETF might be rejected in May. Van Ecks comments follow a period of inaction by the U.S. SEC concerning seven pending applications for spot Ether ETFs, as reported by Cointelegraph.
Even if Ether is classified as a non-security asset, ongoing disputes between regulators and exchanges dampen investors enthusiasm for the broader Ethereum ecosystem, including layer-2 solutions, decentralized finance (DeFi), and nonfungible token (NFT) marketplaces.
On April 11, Uniswap Labs announced that it was "ready to fight" after receiving a potential enforcement notice from the U.S. Securities and Exchange Commission (SEC). Although Uniswap Labs did not disclose the precise details of the Wells notice, it asserted in a blog post that UNI was not a security and emphasized that its platform does not meet U.S. legal definitions of a securities exchange or broker.
Meanwhile, the regulatory landscape appears to be shifting. Michael Welsh and Joseph Watkins, lead SEC attorneys in the lawsuit against crypto platform DEBT Box, resigned on April 22 after a Bloomberg report revealed findings of "gross abuse" of power in the case. In March, federal Judge Robert J. Shelby penalized the SEC for making false statements and misrepresentations in its lawsuit.
Additionally, the Blockchain Association and the Crypto Freedom Alliance of Texas have initiated a lawsuit against the SEC in the Northern District of Texas. They are challenging the regulator's broad interpretation of the term "dealer" within the Securities Exchange Act of 1934, claiming that this expansion creates a vague and burdensome regulatory landscape for digital asset businesses.
Related: Ripple contests $2B SEC fine, says penalty shouldnt exceed $10M
On April 23, Ether's price rose above $3,200, supported by increased demand for Ethereum decentralized applications (DApps). According to DefiLlama, the networks smart contract deposits, measured by the total value locked (TVL), reached their highest level since July 2022 at 30.2 million ETH on April 22, marking an 8% increase from the previous month.
Highlights of Ethereum's TVL growth include innovative platforms such as EigenLayer staking solution, the decentralized exchange Uniswap, automated yield provider Pendle, and Renzo, a liquid staking application. In contrast, the Tron blockchain's TVL saw a 5% decrease in TRX (TRX) terms over the past 30 days, with its largest DeFi application, JustLend, experiencing an 11% reduction in deposits.
To understand if professional traders flipped bearish after Ethers price underperformance, one should use the ETH options 25% delta skew as a proxy. A skew metric rising above 7% indicates anticipations of a price drop, whereas a negative 7% skew typically reflects bullish sentiment.
The Ether options skew metric showed an increase between April 9 and April 18, suggesting that traders were becoming less risk-averse. However, this trend reversed on April 19 as ETH traded below $3,000. Current data reveal a balanced dynamic between call (buy) and put (sell) options, indicating a neutral market sentiment.
On-chain metrics for Ethereum and ETH derivatives demonstrate resilience, even though Ethers price has recently struggled to maintain the $3,000 support level. Nevertheless, it seems premature to anticipate a bull run surpassing $3,500, given the subdued investor enthusiasm regarding the prospects for a U.S. spot Ethereum ETF approval.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Continue reading here:
Ethereum price data points to strong resistance at $3.5K - Cointelegraph
Ethereum price today: ETH is trading at $3,281.00 – USA TODAY
What is the price of ethereum today?
The price of ethereum, or 1 ETH, traded at $3,281.00, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024.
The chart above is pulling data as of 8 a.m. ET daily and doesnt display intraday highs or lows.
Even though ethereum is not the first altcoin, its the most popular and successful. The cryptocurrency was launched in 2015. Its blockchain has generated tremendous growth and returns over the past nine years.
*The return comparisons are as of 8 a.m. ET.
Ethereums 52-week intraday high was on March 12, 2024, trading at $4,088.00 per ETH. Its 52-week intraday low was $1,500.00 on Aug. 17, 2023.
The leading altcoin has shifted global financial markets and amassed a global market capitalization of $379.18 billion. ETH is currently up 71.38% year over year.
Today, ethereum's $379.18 billion market capitalization is second to bitcoin's. Bitcoin and ethereum represent 69.50% of the entire cryptocurrency market. Behind ethereum, the third-largest crypto is BNB, with a market cap of just $89.84 billion.
Bitcoin and ethereum's combined crypto market dominance has fluctuated over the years. But it has trended steadily higher since late 2022.
Ethereum's market cap of $379.18 billion is slightly more than some major blue-chip stocks, such as Home Depot (HD) at $333.10 billion and Johnson & Johnson (JNJ) at $359.35 billion.
Ethereum is a blockchain-based network created to facilitate secure, decentralized financial transactions. The network's native cryptocurrency is ether.
Unlike bitcoin, ethereums programmable blockchain allows users to securely verify and execute code, including smart contracts and decentralized applications. Smart contracts on the ethereum network are software applications that run automatically on the blockchain when certain predetermined conditions are met.
The ethereum network's decentralized nature allows developers to run programs without relying on Big Tech companies or other third parties. Rather than running software on cloud servers housed in massive data centers owned by Google, ethereum users can run applications by leveraging ethereum's large network of small, private computers.
Applications on the ethereum blockchain include gaming, socializing, gambling and decentralized finance options. The ethereum blockchain is also home to the world's most significant non-fungible tokens. NFTs are unique digital creations representing ownership of digital property, such as a work of art, song or video.
Ethereum gas is the fee network users pay to process transactions or use smart contracts on the network. Gas fees are akin to highway tolls. Users pay these fees to use the ethereum blockchain.
The unit of measurement for gas fees is gwei. One gwei equals one billionth of one ETH.
Like bitcoin and other leading cryptocurrencies, ethereum had humble beginnings. Shortly after its launch in July 2015, ETH hit its all-time low of 42 cents in October 2015.
The popularity and trading volumes of cryptocurrencies started to snowball in 2017. ETH prices reached $1,000 for the first time in January 2018. The crypto ultimately peaked at around $1,300 less than two weeks later.
CME Group's announcement that it would launch bitcoin futures contracts drove ethereums 2017 rally. They were the first cryptocurrency-related products offered by a regulated U.S. financial institution.
Enthusiasm for cryptocurrency died down in 2018. That led to one of several crypto winters in the past decade.
The next crypto boom began in 2020. This time, ETH's parabolic rise was partly driven by government shutdowns of sports, casinos, and other leisure and entertainment options. Multiple government stimulus checks also left many Americans with extra disposable income to buy crypto.
Ethereum prices reached $4,891.70 on Nov. 16, 2021. But rising interest rates cooled investor enthusiasm for risk assets in 2022. A string of crypto industry layoffs and bankruptcies weighed on crypto prices, culminating in the bankruptcy of leading cryptocurrency exchange FTX in November 2022. ETH prices dipped below $900 during the 2022 crypto winter.
The ethereum rally resumed in 2023 and into 2024 as investors grew more optimistic about the U.S. economic outlook. The Securities and Exchange Commissions approval of several bitcoin spot ETFs in January 2024 further bolstered ethereum prices. Many crypto enthusiasts see this as an encouraging sign for the approval of ethereum spot ETFs.
Since ethereums launch in 2015, there's no question that bitcoin and ETH have been spectacular investments.
The past years enthusiasm for bitcoin spot ETFs has reversed the performance gap between the two major cryptos. The price of bitcoin is up 106.09% year over year, compared to a 43.64% gain for ethereum.
You can buy ethereum on popular cryptocurrency exchanges like Binance, Coinbase and Kraken. Ethereum trades under the symbol ETH. There are also online brokerages that support cryptocurrency trading, such as Robinhood, Interactive Brokers and Webull.
In addition, you can buy ethereum through leading payment apps Venmo and PayPal. Finally, ethereum can be bought directly by searching for a physical cryptocurrency ATM that sells ether.
Anyone buying ethereum directly must store their ETH in a cryptocurrency wallet. This is much like storing paper money in a physical wallet.
The private keys are needed to send or receive cryptocurrency in a digital wallet. A person who controls a wallet's private keys controls all the cryptocurrency associated with the wallet.
Ethereum wallets can be hardware wallets resembling USB sticks or software wallet apps that store ETH on a smartphone or another device. Hot wallets are connected to the internet, while cold wallets are not. Hot wallets are generally considered more convenient, but cold wallets can be safer and more secure.
In addition to buying ethereum directly, you can indirectly speculate on the ethereum market via ethereum funds.
The SEC approved the first wave of ethereum futures ETFs in late 2023. These ETFs don't invest in ethereum directly but instead hold ethereum futures contracts. Leading ethereum futures ETFs include the VanEck Ethereum Strategy ETF (EFUT), the ProShares Ether Strategy ETF (EETH) and the Bitwise Ethereum Strategy ETF (AETH).
The popular Grayscale Ethereum Trust (ETHE) tracks the price of ETH. But Grayscale can only trade over the counter in the U.S. until it receives approval to convert into an ETF. That conversion is contingent on the SECs approval.
Ultimately, ethereum investors hope that the SEC will approve spot ethereum ETFs. Spot ETFs invest directly in the underlying cryptocurrency rather than futures contracts or other derivatives. Grayscale and BlackRock are among several companies that have applied for SEC approval.
Ethereum does not represent ownership of assets with tangible value and does not generate earnings, revenue or cash flow. ETHs price is determined exclusively by supply and demand. If the popularity of the ethereum network continues to grow in the long term, demand for ethereum will likely grow over time.
No. Since the ethereum network upgraded from a proof-of-work model to a proof-of-stake model, ethereum mining is no longer necessary. But ethereum investors can still profit from the proof-of-stake system by staking ETH.
Read more from the original source:
Ethereum price today: ETH is trading at $3,281.00 - USA TODAY
SEC Expected to Deny Spot Ethereum ETF Next Month – Watcher Guru
The US Securities and Exchange Commission (SEC) is expected to deny Spot Ethereum ETF approval next month, according to insiders. Indeed, a report from Reuters notes that the ongoing meetings between issuers and the SEC have dampened expectations, with rejection likely in May.
The report fortifies industry-wide expectations of Ether ETF rejections next month. That was first forecasted by Standard Chartered, and corroborated by insider testimony. However, the description of the ongoing meetings regarding the investment offering leaves little optimism of an impending approval.
JUST IN: SEC expected to deny spot Ethereum ETFs next month, Reuters reports.
Also Read: Hong Kong Bitcoin & Ethereum ETFs to Begin Trading April 30th
Since the arrival of Spot Bitcoin ETFs at the start of the year, the market has awaited what assets could be next. The positive impact that BTC offerings have had on the market as a whole has led many to opine about what another ETF could mean for furthering the industry.
However, such an approval has seemingly reached a critical point. According to a report today, Ethereum ETF approval is increasingly doubtful as noted by insiders with knowledge of the ongoing meetings. Specifically, they have assured that an approval is not to take place in the coming month.
Also Read: Ethereum ETFs To Face Rejection By May, VanEck CEO Claims
However, that is all the more disheartening by the reports of discussion in meetings between the SEC and issuers. The report describes those meetings as one-sided with the agency not discussing substantive details about the proposed product.
Those developments greatly contradict what took place before Bitcoins Spot ETF approval. The meetings in the lead-up to that decision featured intensive and detailed discussions between both sides. Subseuqnlety, it showed the seriousness of the SEC in finally reversing its position on the investment offering.
The positive taking place for an Ethereum ETF signals a far gap between the SECs willingness and issuers desire. Subseuqnlety, a plethora of issers have already re-filled applications amid yet another delay from the agency. These ongoing discussions should continue to describe the timeline of when an Ether ETF could see approval.
Read the rest here:
SEC Expected to Deny Spot Ethereum ETF Next Month - Watcher Guru
SEC likely to reject Ethereum spot ETF applications, insiders say – Crypto Briefing
Share this article
Spot Bitcoin exchange-traded funds (ETFs) got the green light, but spot Ethereum ETFs might hit the red light. According to a Reuters report published today, sources familiar with recent talks between ETF issuers and the SEC suggest the agency is likely to reject spot Ethereum ETFs during their final review next month.
The SECs decisions on VanEcks and ARKs filings are due May 23 and May 24, respectively. Unlike the discussions preceding the SECs approval of spot Bitcoin funds, recent talks have lacked substance, with SEC staff not engaging in detailed conversations about the proposed Ethereum ETFs, according to four people reportedly involved in the meetings with the SEC.
Sources also noted that despite ETF issuers arguments that the approved spot Bitcoin ETFs and Ethereum futures-based ETFs set a precedent, the SECs silence on specific concerns suggests a likely rejection.
According to SEC records and sources familiar with the matter, the SEC has not had many meetings regarding the spot Ethereum ETF review. Of the few meetings, only one has been made public. This meeting was with Coinbase, concerning Grayscales bid to turn its Ethereum Trust into an ETF. Coinbase would act as the custodian for this ETF.
If the SEC were to reject Ethereum ETFs, applicants anticipate the reason would likely be broader issues, such as concerns about the quality and depth of market data regarding Ethereum.
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, one of the spot Ethereum ETF applicants, suggests that the SEC might want more time to study the Ethereum futures market before making a decision.
The SECs approach to spot Ethereum ETF filings is sharply different from the past, where there was intensive and detailed dialogue before the SECs approval of spot bitcoin ETFs in January.
The securities agency had historically rejected spot bitcoin ETFs over concerns about market manipulation. However, they were eventually compelled to approve them following a successful court challenge by Grayscale Investments.
In their previous comments, analysts at JPMorgan suggested that if the SEC denies the spot Ethereum filings, the ETF issuers may initiate legal lawsuits against the agency, which could end up forcing the SEC to review and eventually approve the trading of these products.
Due to the currently frustrating situation, VanEck CEO Jan van Eck expressed a similar expectation of denial. In his recent interview with CNBC, he said VanEcks application and that of ARK Invest would be rejected first.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefings own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Read more:
SEC likely to reject Ethereum spot ETF applications, insiders say - Crypto Briefing
Bitcoin ETF and Ethereum Officially Approved in China to Begin trading on April 30 – 99Bitcoins
The Hong Kong crypto hub is heating up after the approval of Ethereum ETF and Bitcoin ETF triggers a landmark moment in the China cryptocurrency market lets dig in.
All-time highs not seen for Bitcoin and Ethereum in four years may come this summer, based on the news of Hong Kong launching spot ETH and BTC ETFs next week.
Following the United States sizable leap into the crypto with 11 Spot Bitcoin ETFs back in January, Hong Kong decided it needed to move fast to catch up in an unfolding geopolitical battle over crypto regulations.
This has led to the Securities and Futures Commission of Hong Kong giving the green light for a lineup of Bitcoin and Ethereum spot ETFs to hit the market.
Both ETFs will make their debut Hong Kong Stock Exchange this Tuesday, April 30, 2024.
Hong Kongs seal of approval on the Ethereum and Bitcoin ETF side marks a significant stride forward, especially considering that the US SEC is hitting the pause button on Ethereum spot ETFs until June.
Despite banning cryptocurrency mining once, (actually 30 times off and on in China), China Asset Management (China AMC) executives now welcome Web3 with open arms.
At the heart of these ETFs is their regulated status, which adds convenience, efficiency, and safety to BTC and ETH, making them attractive for retail and institutional investors alike.
Among approved ETFs are the Bosera Hashkey Bitcoin ETF, Bosera Hashkey Ether ETF, China AMC Bitcoin ETF, China AMC Ether ETF, Harvest Bitcoin Spot ETF, and Harvest Ether Spot ETF. Its a digital smorgasbord within the comforting confines of regulation.
(Bloomberg Media)
Crypto is awash with news to be bullish about in 2024.
Investors like Arthur Hayes say we dont have imagination for whats coming. Here are a few recent updates:
As our analysts at 99Bitcoins have told you, the rest of 2024 will be macro summer.
With ETFs slowing pouring in liquidity, both Ethereum and Bitcoin have the catalysts for new all-time highs.
EXPLORE:3 No-Brainer DePIN Crypto Projects to Watch Out For
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Originally posted here:
Bitcoin ETF and Ethereum Officially Approved in China to Begin trading on April 30 - 99Bitcoins
BlackRock and Grayscale’s Spot Ethereum ETF Plans Blasted By SEC, Now Expecting June – 99Bitcoins
Deep dive into this investigation into recent news around Blackrock and Grayscale Ethereum ETF applications discover the latest from the Securities and Exchange Commission (SEC.)
January ushered in the Bitcoin ETF era, with BlackRock amassing a hefty 273,892.57 BTC stash for their IShares Bitcoin Trust at an eye-popping $18.18 bn.
This blockbuster debut got investors itching for an Ethereum ETF. But, true to form, the SEC just hit the snooze pushing Ethereum ETFs further back.
In this article, well tell you when the BlackRock ETF is coming and what exactly happened to HBAR BlackRock this week.
Initially slated for an April 24 verdict on ETH ETFs, BlackRock and Grayscales S-1 application to morph its ETH Trust into a spot ETH exchange-traded product now has until June 23 to woo or win SECs approval.
The SEC unveiled qualms with the proposals this week, zeroing in on share creation and redemption mechanics for the ETFs.
BlackRock, the behemoth with $10.5 trillion assets under management, doesnt always get the SECs celebrity treatment.
After filing an S-1 application for a spot ETH ETF last November, BlackRock was forced to amend its focus on share creation and redemption mechanisms.
Many investors predict an Ethereum ETF will be bigger for crypto than Bitcoin as it opens the floodgates for many top protocols to get one.
Amidst the uncertainty surrounding ETH ETFs, BlackRocks Ishares Bitcoin Trust (IBIT) shines as a beacon of success, boasting 70 days of uninterrupted inflows.
This remarkable streak catapults IBIT to the forefront of the U.S. spot ETF landscape, nestling it firmly among the top 10 ETFs for daily inflow streaks.
A fake HBAR BlackRock RWA story shook the crypto world last night.
Like wildfire, fake news of an HBAR Blackrock RWA partnership sent the HBAR token into a frenzy, doubling its value overnight. By daybreak, the frenzy cooled but left HBAR perched 43.8% higher, basking in the afterglow.
As a response to this price action, HBARs competitor, Ethereum, has been following along with the 20-day SMA, which recently acted as a support level at $3,270. If the price stays above this line, itll be a positive sign for things to come.
(ETHUSDT)
The delays in SEC decisions have cast a shadow of suspense over the future of ETH ETFs, with many interpreting this hesitancy as an ominous sign. Fake HBAR BlackRock stories add to the case that crypto is still the wild west.
However, Grayscale and BlackRocks previous legal victory against the SEC over its Bitcoin ETF application sparks a glimmer of hope for a favorable outcome come June.
EXPLORE: Stacks (STX) Unveils Roll-Out of Nakamoto Layer 2 Upgrade
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Go here to read the rest:
BlackRock and Grayscale's Spot Ethereum ETF Plans Blasted By SEC, Now Expecting June - 99Bitcoins
Ethereum Price Targets $3,500 as Investors stake $620M after Bitcoin Halving – The Crypto Basic
Ethereum (ETH) price opened trading at $3,140 on April 25, as the pioneer smart-contract network begins to show early signs of an imminent recovery phase. On-chain data trends show ETH investors reaction to the Bitcoin halving could be pivotal to the next rally.
Is Ethereum price on the verge of revisiting $3,500?
The Bitcoin network executed its 4th Halving on April 20, sparking wild volatility across the global crypto markets as investors move to front-run potential gains from the landmark event.
Since the Bitcoin halving, Ethereum price has struggled for momentum amid falling market liquidity and skittish sentiment among short-term swing traders. But curiously, on-chain data trends show that Ethereum node validators have taken on a more positive outlook.
The chart below shows official data on the real-time changes in the number of ETH coins deposited in the Ethereum Proof-of-Stake (PoS) Beacon Chain smart contracts.
On the Bitcoin halving day on April 20, the total staking deposits on the Ethereum Beacon chain stood at 31.6 million ETH. Interestingly, investors have since staked an additional 300,000 ETH, bringing the total stake to 31.9 million ETH at the time of writing on April 25.
- Advertisement -
Like every PoS network, increasing number of staked coins enhances the security of the Ethereum network. But more importantly, it reduces the short-term market supply. During a period of slow market demand, this could be critical in slowing down the sell-side pressure.
Valued at the current prices, it implies that Ethereum have staked coins worth over $620 million within 5-days of the Bitcoin Halving. Evidently, this has played a pivotal role in helping ETH price defend the $3,000 support level in the last few days.
Albeit temporarily, node validators pulling $620 million ETH from the immediate market supply puts Ethereum price on course to consolidate above $3,000 as the bulls plot the next attempt at the $3,500.
However, to reclaim $3,500, IntoTheBlocks In/Out of the Money chart below shows that ETH must first scale the looming sell-wall at the $3,250 territory.
As illustrated above, 2.1 million addresses had acquired 4.58 million ETH at an average price of $3,236. If they opt to exit at their break-even point, the ETH price could experience intense headwinds and struggle to break above $3,250 in the near term.
If the Ethereum stakers keep depositing more coins into the Beacon chain, bulls could capitalize on the thinning market supply to stage a decisive breakout above $3,500.
However, in the event of a bearish reversal, ETH could tumble as low as $2,918 before finding a formidable support cluster.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
Read more here:
Ethereum Price Targets $3,500 as Investors stake $620M after Bitcoin Halving - The Crypto Basic