With eight issuers looking to launch an ether ETF at the same time, fees will play a critical role in differentiating a product from the others and appealing to investors. Grayscale’s higher-than-normal 1.5% fee on its bitcoin (BTC) trust caused it, among other reasons, to bleed billions of dollars while others saw mostly inflows. Source
All 20 assets within the CoinDesk 20 are trading higher today. Source
A crypto project that raised 820,000 Ethereum in a 2016 initial coin offering (ICO) recently sold millions of dollars worth of ETH on a handful of exchanges, according to the digital asset tracker Lookonchain. Golem Network (GLM) is an open-source platform that aims to enable decentralized access to computing power. Lookonchain notes the project raised its large ETH stack through an ICO in November 2016, when the price of ETH was only $10.20. Lookonchain says Golem sold 24,400 ETH worth $72 million on the crypto exchanges Binance, Coinbase and Bitfinex…
How will the recent market crash impact Ethereum price prediction? Experts weigh in on potential outcomes. The crypto market experienced extreme turbulence over the past 24 hours. Bitcoin (BTC), the leading cryptocurrency, plummeted to a new low of $53,700 on July 5. The market-wide sell-off intensified following reports that Mt. Gox, the infamous collapsed crypto exchange, transferred over 47,000 BTC (worth approximately $2.6 billion) to a new wallet in preparation for a large-scale payout totaling about 142,000 BTC (valued at $7.9 billion at current prices). On July 5, during Friday’s…
Ethereum (ETH) is experiencing a significant downturn, with its price rapidly approaching the crucial support level of $3,051. This sharp decline highlights increased selling pressure and growing bearish sentiment in the market. As Ethereum nears this critical threshold, traders are closely monitoring its behavior for signs of either a stabilization or a further drop. The $3,051 support level is now a focal point, determining the short-term direction of Ethereum’s price action and potentially setting the stage for future movements in the cryptocurrency market. This article aims to analyze the sharp…
As the global financial markets prepare to launch U.S.-based spot Ethereum exchange-traded funds (ETFs), Ethereum is positioned to potentially outperform Bitcoin, according to a new analysis by K33 Research. This comes amid concerns that Bitcoin might face downward pressure due to upcoming repayments to creditors of the defunct Mt. Gox exchange. ETF Launch to Begin a New Era for Ethereum Ethereum has lagged behind Bitcoin in performance over the last year, with the former surging 67% while the latter by 95%, but that might be about to change with the…
Ethereum (ETH) has become a beacon in the sea of blockchains, boasting a staggering 92% surge in dApp (decentralized application) volume over the past week. This news, however, comes with a layer of complexity, revealing a landscape of both opportunity and potential setbacks for the leading blockchain. Related Reading Cheap Gas Fuels The Fire Analysts attribute the dApp volume explosion to the Dencun upgrade in March, which significantly reduced gas fees – the cost associated with processing transactions on the Ethereum network. Lower fees have historically enticed users, and this…
Ethereum (ETH) price has encountered a setback after briefly surpassing the $3,500 mark on Monday, dropping once again to the $3,400 support level on Tuesday. The delay stems from the expected full approval by the SEC for Ethereum ETF applications, which have now been postponed to July 8. SEC Requests Revised Filings Analysts had initially anticipated approval by July 2, but the SEC has requested issuers to submit revised filings by July 8. Bloomberg ETF expert Erich Balchunas shared on social media that the SEC took additional time to provide…
Ethereum price failed to climb above the $3,520 zone and corrected gains. ETH is now showing bearish signs below the $3,400 support zone. Ethereum started a downside correction after it failed to surpass the $3,520 zone. The price is trading below $3,400 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now at risk of more downsides below the $3,350 support zone. Ethereum Price Dips Again Ethereum price…
Net inflows into spot ether ETFs below $3 billion would be a disappointment given that bitcoin versions received $15 billion of inflows in the first six months, Gemini said. Net inflows above $5 billion, a third of the bitcoin ETF level, would be a strong showing, and anything close to 50% or $7.5 billion would be a “significant upside surprise.” Source