Binance’s staked ether token (BETH) experienced $573 million in deposits across two single days in September, more than quadrupling total value locked to $731 million, DefiLlama data show. Source
Bitcoin traded just under $26,700 and ether exchanged hands at $1,630 as of Asian afternoon hours Monday, adding just 0.5% in the past 24 hours. Original
Last week, the Base Layer 2 network hit its ATH in daily transactions of about 1.88 million, higher than Optimism and Arbitrum combined. Coinbase Global Inc (NASDAQ: COIN) launched its Ethereum-based layer two (L2) network dubbed Base earlier in August. Less than two months later, the layer two network has registered exponential growth following high adoption by leading DeFi projects. Moreover, the Base network offers reliable security, and sustainable and scalable services all without any native token. According to on-chain data provided through BaseScan, a product of Etherscan, the Coinbase-backed…
The large flow was concentrated in the so-called out-of-the-money (OTM) calls at strike levels well above ether’s current market price of $1,633. Whales blocked over 40,000 contracts of ETH December expiry call at $2,200 and nearly 50,000 contracts of October expiry call at $2,000. A block trade is a large transaction negotiated over-the-counter of outside of the exchange’s order book to ensure minimum impact on the market price of the asset. Block traders are considered a proxy for institutional activity. Source
Per the Metcalfe law (ML), the value of the network is directly linked and proportional to the square of the number of users it has. Ether enables users to transact on the Ethereum blockchain, earn interest, and participate in network security through staking, store non-fungible tokens and much more. Thus, ether’s value proposition has long been closely tied to Ethereum’s network usage. Source
Phishing attacks trick users into divulging sensitive data, downloading malware, and exposing their private information. Such attacks are extremely common in the crypto industry, as users may fail to check the source of requests on a crypto wallet, or unknowingly download a fake application that mimics the original – one that exists only to steal holdings. Source
“In August 2022, the Ethereum Foundation warned users that the upcoming Paris upgrade would not reduce gas fees. Subsequently, prices fell, and ether was doomed to underperform bitcoin. But this also hinted towards the next potential catalyst for Ether investors—lower gas fees,” Markus Thielen, head of research and strategy at Matrixport, said in a note to clients last week. Source
The launch comes as staking landscape is dominated by centralized staking providers, which together hold more than 70% of the staked ether (ETH) supply. Source
Lido is the leading provider of liquid-staking solutions and its staking token, stETH, has a $13.8 billion market capitalization. Source
The Nasdaq stock exchange has submitted an application to the Securities and Exchange Commission (SEC) seeking approval to list an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex, an asset management company. This ETF is designed to include a combination of spot ether holdings and futures contracts in its portfolio and pioneering a new approach to cryptocurrency investment within the regulatory framework. Known as the Hashdex Nasdaq Ethereum ETF, this investment fund is the first ’33 Act Ethereum futures filing of futures Ethereum under the ‘33 Act and is overseen and…