Wrapped Bitcoin (WBTC), a wrapped version of Bitcoin developed by BitGo, Kyber Network, and Ren, continues to dominate the tokenized BTC market despite criticism around the project, according to Binance Research’s latest monthly report. The wrapped token represents Bitcoin at 1:1 on other blockchains such as Ethereum and Solana. This allows users to access BTC […]
Ethereum’s five-week decline has been reversed as ETH-based product inflows jumped to $87 million during the previous week. According to Coinshares, this was the first measurable inflow since early August, and it comes amidst a significant revival across digital asset investment products. The latest edition of the European asset manager weekly report revealed that digital […]
A Coinshares report has revealed that the role of Ethereum (ETH) in crypto is being shaped by two main pillars: marketplaces and stablecoins. However, while the network is making waves in these areas, the path forward for new applications remains unclear. Decentralized Exchanges Dominate The report, released on September 24, indicated that marketplace and stablecoins […]
Vitalik Buterin, co-founder of Ethereum, took to social media platform X to commend Celo’s growth. The blockchain network recently outpaced Tron in daily active addresses for stablecoin usage. Celo’s Growth In his post, Buterin expressed enthusiasm for the achievements, stating: “This is amazing to see. Improving worldwide access to basic payments and finance has always […]
Crypto investment products have continued to receive heightened investor interest as the funds recorded their second consecutive week of inflows. According to a report by the crypto investment firm CoinShares, global digital asset funds posted a total of $321 million in inflows last week. This figure, however, is slightly lower than the $436 million recorded […]
A Texas federal judge has dismissed a lawsuit filed by blockchain development company Consensys against the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, along with other commissioners. The lawsuit revolved around the SEC’s investigations into Ethereum (ETH) and its issuance of a Wells Notice regarding MetaMask, a cryptocurrency wallet developed by […]
An early Ethereum (ETH) investor who received 16,636 ETH in 2016 has sold a portion of their holdings, marking an extraordinary return on investment. According to on-chain data shared by EmberCN, the whale originally acquired the Ethereum for $5.23 per token, totaling $87,135. As of September 16, 2024, that same amount of ETH is worth […]
On Sept. 10, ITC Crypto founder and CEO Benjamin Cowen identified a wedge chart pattern this cycle similar to previous cycles in 2019 but several orders of magnitude larger. He said that the ETH/BTC structure bottomed after an interest rate cut in 2019, and it appears to be mirroring that pattern now with an impending […]
Since Ethereum underwent the Merge two years ago, its performance relative to Bitcoin has declined significantly. From gradually losing its reputation as ultra-sound money, ether (ETH) is currently a few steps away from falling into the undervaluation territory. Blockchain analytics platform CryptoQuant has identified the major drivers of Ethereum’s underperformance since the Merge, including inflationary […]
Ethereum has been notably bearish, marked by a sharp decline following a pullback to the lower boundary of a broken wedge, coupled with the formation of a death cross. Despite this, the price is nearing a crucial support level that could lead to a short-term sideways consolidation. Technical Analysis By Shayan The Daily Chart Ethereum […]