The recent data on Ethereum ETFs in the US paints a mixed picture, with net outflows totaling $77.21 million for the top nine ETFs. The Grayscale Ethereum Trust (ETHE) has been hit the hardest, recording $133.33 million in outflows on July 31st. Since becoming an ETF, ETHE has seen almost $2 billion in outflows. On
Crypto
XRP has witnessed a significant price surge, reaching $0.66, marking an 8% increase in the past 24 hours. This surge is attributed to renewed investor optimism in the market and crucial developments within the XRP ecosystem. The number of wallets holding at least 10,000 XRP has seen a substantial rise, hitting a six-month high of
In the wake of the US government’s decision to move $2 billion worth of bitcoin holdings to a new address, the cryptocurrency market experienced a significant drop, with Shiba Inu (SHIB) seeing a 3% decrease in its price. This sudden decline raised concerns among investors, but is this just a temporary setback or a sign
In the world of cryptocurrency trading, meme coins have been gaining popularity due to the potential for massive gains in a short period of time. An example of this is the recent case of a trader who bought 170.2 billion PEPE coins last October and sold them in July for $1.97 million, making a profit
The world of cryptocurrency has seen significant developments in the last month, particularly in the realm of non-fungible tokens (NFTs) and related cryptocurrencies. Despite the market volatility, some coins have shown notable development activity worth examining. Decentraland (MANA) has taken the lead in terms of notable development activity, with a score of 145.77. As a
2024 has proven to be an eventful year for the cryptocurrency industry, with significant developments in the Ethereum ecosystem. The US Securities and Exchange Commission’s approval of almost ten exchange-traded funds tracking Ethereum’s performance provided a massive validation for the second-largest digital asset. Although the ETH ETFs were greenlighted a few months prior, they were
The launch of spot Ethereum ETFs has been met with lackluster results in the first few days. While there was a solid first day with over $106 million in net flows, the following days saw a significant trend reversal. Daily outflows increased, with large amounts being withdrawn from various Ethereum ETF products. For example, Grayscale’s
Jan van Eck, the CEO of the investment management company VanEck, has shown remarkable confidence in Bitcoin during the ongoing BTC Conference in the States. He revealed that more than 30% of his portfolio is allocated to the primary digital asset, showing a strong belief in its future potential. VanEck is known for its spot
Kennedy has recently proposed that the federal government should purchase Bitcoin until its holdings align with the value of the nation’s gold reserves. Currently, the US gold reserves amount to around 8,133 tonnes, valued at approximately $615 billion. This would translate to roughly 9.4 million BTC, accounting for nearly 45% of the total Bitcoin supply.
Ethereum saw a significant drop in price despite the launch of several ETFs. The support level at $3,300 turned into resistance as the price fell by over 10%. This could potentially lead to further downward pressure, with a target of $2,800 if buyers do not step in. The volatility created by the ETF launch may
