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In the past week, six futures-based Ethereum ETFs commenced trading on U.S. markets, securing regulatory approval from the SEC earlier than anticipated. However, these ETFs failed to generate significant trading volumes or provide a notable boost to the cryptocurrency markets. An underwhelming response Kaiko reports that of the six ETFs, the two with the highest trade volume, VanEck’s EFUT and ProShares EETH, experienced an average daily trading volume of only $500,000 during their first week of trading. To put this in context, the first Bitcoin futures ETF, ProShares Bitcoin Strategy (BITO), managed to amass over $1 billion in trade volume on its initial trading day. Since the Merge, #ETH has underperformed #BTC in terms of both price and volume. Our latest research breaks down the trend: https://t.co/C85zfASkHn pic.twitter.com/aqiyqeKeEN — Kaiko (@KaikoData) October 10, 2023 However, the report attributes ETH’s underperformance to the impact of the current bear ma...

Bitcoin is consolidating at the top of its range and this is inspiring traders' confidence in a variety of altcoins. United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned that this “should put everyone on recession warning.” Arthur Hayes, former CEO of crypto exchange BitMEX, warned in a recent X thread that the government will have to print money to save the bond market as a faster bear steepener — a condition where long-term interest rates rise more quickly than short-term rates — will cause firms to collapse. Some investors believe that this could trigger a cryptocurrency bull market. Daily cryptocurrency market performance. Source: Coin360 It also looks like the institutional investors have started to warm up ...

Once upon a time, several crypto community members were seen pouring millions of dollars into JPEG images of apes, punks, rocks, etc. However, the hype associated with NFTs fizzled out with the onset of the bear market. No significant improvement has been registered as of yet. Over the past 30 days, NFT sales on prominent blockchains like Ethereum, Polygon, Solana, Bitcoin, BNB, Cardano, etc. have dipped by 10% to 45%. A couple of chains, like Flow and Mythos Chain, were exceptions. Parallelly, the number of buyers has also been decreasing. Source: CryptoSlam Recent research conducted by dappGambl revealed that the vast majority of NFTs are worthless. Of the 73,257 NFT collections identified, around 69,795 of them had a market cap of 0 Ether. The report pointed out, “ This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments. Having looked into those figures, we would estimate that 95% to ...

Ethereum’s ‘Merge’ upgrade took place exactly a year ago, changing the network’s consensus mechanism from Proof of Work [PoW] to Proof of Stake [PoS]. Since then, not only has the energy consumption reduced, but Ethereum has also started seeing improvements on other fronts. The number of ERC-20 transfers taking place on the network has seen a swift incline over the past year. From revolving in the 300,000 to 500,000 pre-Merge, the number has now been hovering in the 1.25 million to 1.5 million bracket lately. This steep increase has been registered despite the sluggish market conditions, indicating that Ethereum network is being used more by users. From the utility point of view, this is an optimistic development. Source: Blockchair Also Read: 7 Chainlink Integrations Take Place on Ethereum, Base, Polygon Even though the transactions on the network are rising, it should be noted that Ethereum’s NVT has just created an 8 month high. A rising NVT...

How Long Will it Take for Ethereum to Reach $5,000?: Guide ‍The world of cryptocurrencies has been buzzing with excitement as Ethereum (ETH), the second-largest cryptocurrency by market capitalization, continues to make waves in the market. Investors and enthusiasts alike are eagerly awaiting for Ethereum to reach its all-time high of $5000. In this article, we will explore the factors that could contribute to Ethereum’s price surge and discuss how long it might take for ETH to reach this significant milestone. Also read: Ethereum: Rising Shorts, Whale Interest Opens Bullish Speculation Understanding Ethereum and its Price Movements Ethereum is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). Utilizing a proof-of-stake (PoS) consensus mechanism, is more energy-efficient than Bitcoin’s proof-of-work (PoW) mechanism. Various factors, such as market demand, investor sentiment...

Stellar joined the industry group developing Wasm, an alternative computation engine for running smart contracts. The Stellar Development Foundation has joined the Bytecode Alliance, an industry group promoting the development of WebAssembly (Wasm), according to an Aug. 21 announcement. Wasm is a competitor to the Ethereum Virtual Machine (EVM) used by the Ethereum ecosystem. It is also used in non-blockchain, browser-based applications. We are officially members of @bytecodeallies! Our goal? To shape the future and development of WebAssembly for blockchain developers. Time to get to work https://t.co/MBLkWoNlDl — Stellar (@StellarOrg) August 21, 2023 EVM is a virtual machine or computation engine used to execute smart contracts. It is used by most blockchain networks, including Ethereum, BNB Chain (BNB), Avalanche (AVAX), and many others. But a few networks use Wasm instead, including Polkadot (DOT), MultiversX (formerly Elrond) (EGLD), and Internet Computer (ICP). Stellar beg...

Pepe Coin became the most discussed cryptocurrency on social media in July, beating Bitcoin and Ethereum. The meme currency is the darling of investors, as they believe it could replicate Dogecoin and Shiba Inu’s success. However, the social media mentions for July could most likely be negative, as the token relentlessly dipped last month. Nonetheless, any promotion is good promotion for meme coins, as it reaches a broader set of audiences on digital media platforms. Pepe Coin fell nearly 20% in the last 30 days and is also on a downward streak in August. Also Read: Shiba Inu To Reach 5 Cents? Here’s When SHIB Might Hit $0.05 Pepe Coin Tops Bitcoin and Ethereum Source: Finbold.com The new-kid-on-the-block Pepe Coin beat Bitcoin and Ethereum on social media mentions last month. On-chain Analysis firm ICO Analytics published a report showing Pepe dominating all social media mentions at 10%. Bitcoin came in a close second at 9.3% while Ethereum came third at 8.2% of all...

The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year. Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin prices. Behavioral analytics platform Santiment shows that sharks and whales, entities holding between 10 and 10,000 Bitcoin, have increased their hoarding by 71,000 Bitcoin since mid-June. Daily cryptocurrency market performance. Source: Coin360 While the long term looks bullish, macroeconomic indicators hold the key in the short term. The United States equities market is likely to be influenced by second-quarter earnings and the inflation data due to be released on July 12. That is likely ...

Twitter users noticed thousands of Safe deployments to Optimism, leading to speculation that it may be an attack, but the developer of Worldcoin confirmed that this activity was merely an app migration. Worldcoin is the cause of a slew of Safe deployments to the Optimism (OP) network over the past week, according to a June 27 social media post from Tiago Sada, head of product for Worldcoin developer Tools for Humanity. The deployments had caused a stir on Twitter, as users wondered who was causing them and what their purpose was. Some Twitter users had speculated that it might be a Sybil attack or some kind of address-farming technique used to profit from coins sent to the wrong address. Deploying more safes - steady lads https://t.co/W5DiQirrP0 — tiago sada (@tiagosada) June 27, 2023 A Safe (previously called “Gnosis Safe”) is a multisignature smart contract wallet. It is often used by development teams to ensure that multiple team members must sign off on each transaction that s...

The attacker took advantage of the lack of slippage control of liquidity conversions to steal the funds. Adding to the existing number of protocol hacks in the crypto industry, Jimbos Protocol has not escaped the sights of the attackers as it has suffered an attack resulting in a loss of a large amount of funds. According to PeckShield, a blockchain security unit, Jimbos Protocol, the liquidity protocol of the Arbitrum system, was hacked on the morning of May 28. The attack resulted in the loss of 4,000 ETH, equivalent to approximately $7.5 million. Specifically, the attacker took advantage of the lack of slippage control of liquidity conversions. The protocol's liquidity is invested in a price range that doesn't need to be equal, creating a loophole where attackers can reverse swap orders for their own gain. Despite being launched less than 20 days ago, the Jimbos Protocol aimed to address liquidity and volatile token prices through a new testing approach. However, it appear...

The bankrupt crypto lender wants its huge stash of staked Ether back, but it could be in for a wait. Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawal s this week. Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,840 stETH in batches of 1,000. The stash is valued at approximately $784.7 million at current prices. The move follows a transaction of a similar amount of stETH on May 15 in preparation for withdrawal . Once the withdrawal process is complete, Celsius will receive the equivalent in Ethereum and the stETH tokens will be burnt by Lido. According to Dune Analytics, the cumulative amount of stETH in the withdrawal queue is 442,000 from 141 requests. It is valued at around $808 million though Celsius is responsible for the majority of it. The total amount already processe...

Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency. Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States.  The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 Technology into their Business models. Caitlin Long, founder and CEO of Custodia Bank — a Wyoming-based digital asset bank — told Cointelegraph that the conference attracted serious ecosystem participants, saying, “We’ve seen during crypto winters before where Consensus gets overrun with high time preference people and companies (for example, multiple Lambo’s parked out front of the New York Hilton in 2018...

The Ultimate Guide to Purchasing Ethereum in Canada Are you interested in investing in Ethereum, one of the most popular cryptocurrencies in the world? As a Canadian resident, you may wonder, “How do I buy Ethereum in Canada?”. You may also wonder if purchasing Ethereum is legal and how to buy it. In this ultimate guide, we will walk you through the process of buying Ethereum in Canada, step by step. Is it legal to buy Ethereum in Canada? The answer is yes. Buying Ethereum is legal in Canada. In fact, the Canadian government has been quite supportive of cryptocurrencies and blockchain technology. It is important to note that cryptocurrency regulations in Canada are still evolving and can vary between provinces. Source: CNBC How to buy Ethereum in Canada Now, let’s get into the nitty-gritty of buying Ethereum in Canada. Here is a step-by-step guide to help you through the process: Choose a cryptocurrency exchange platform. The first step in buying Ethereum is to c...