Ethereum News Daily TheBitTimes.com

The Singapore-based crypto trading firm said a narrative around spot ETH ETFs should fuel market sentiment ahead of a widely anticipated green light for similar products tied to Bitcoin spot prices. QCP Capital published a market update highlighting factors behind bullish movements in crypto’s ecosystem while cautioning investors against risky bets as Bitcoin approached crucial resistance levels.  The company reaffirmed Analysis from its Q4 2023 forecast which pointed to approval for spot Bitcoin ETFs as a driving force behind rallying crypto prices. Additionally, a surge in Bitcoin futures open interest (OI) indicated buoyed demand from institutional players according to QCP.  OI inflows allowed the Chicago Mercantile Exchange (CME) to leapfrog Binance as the top venue for Bitcoin futures. This is the first in two years that CME has managed to overshadow crypto’s leading exchange by trading volume, per crypto.news. While QCP maintained that a spot Bitcoin ETF approval w...

BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product. JUST IN: $9 trillion asset manager BlackRock officially files for Spot Ethereum ETF with Nasdaq. — Watcher.Guru (@WatcherGuru) November 9, 2023 Early Thursday afternoon, BlackRock registered its iShares Ethereum Trust in Delaware. A Spot Ethereum ETF , like BlackRock’s pending Spot Bitcoin ETF , will need regulatory approval by the SEC. Spot ETF s dramatically broaden access to crypto for average investors, which has been a growing mission amongst asset managers like BlackRock, Grayscale, and others for months. However, the SEC has been avidly battling against it. Bloomberg analyst Eric Balchunas calls the iShares Ethereum trust the “first step towards filing for a spot Ether ETF .” Now, the next step has been t...

The POSA updated its staking principles to say that providers should communicate clearly and should not control the amount of liquidity a user must provide. The Proof of Stake Alliance (POSA), a non-profit organization that represents firms in the crypto staking industry, published an updated version of its “ staking principles” on Nov. 9. The new principles are supported by Ava Labs, Alluvial, Coinbase, Lido Protocol, Paradigm, and ten other staking industry firms. Previous version of the POSA staking principles. Source: POSA. POSA represents 15 different firms in the staking industry, including Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment, Infstones, Kiln, Lido Protocol, Luganodes, Methodic, Obol, Polychain, Paradigm, and Staking Rewards. The staking principles were first published in 2020. According to the blog post that announced them, the POSA staking principles are meant to be “a set of industry-driven solutions” that provide rs can implement to addr...

Cryptocurrency experts have lowered their predictions for Ethereum (ETH), over the next few years , according to a new survey from Finder. The survey asked 31 industry specialists for their ether price forecasts for the end of 2023, 2025 and 2030. The average predictions were down compared to a previous Finder survey conducted in July 2022. The panel predicted Ether will be worth $1,840 on average by the end of 2023, down from a prediction of $2,451 in July. The 2025 forecast fell to $5,824 from $5,845 previously, and the 2030 prediction declined to $14,411 versus $16,414 in the earlier survey. Finder calculates the average forecasts by removing the top and bottom 10% of responses and taking the mean of the rest, a technique known as the truncated mean. This is designed to eliminate outliers and arrive at a more consistent consensus. You might also like: Investor optimism fuels meme coins growth: predictions and market analysis While still bullish long term, some panelis...

On the heels of a tremendous week for the digital asset, more than $4.5 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are set to expire today. Indeed, the former has noted an impressive surge in price. Specifically due to the hype surrounding the potential arrival of a Spot Bitcoin ETF in the coming months. Conversely, both assets slipped lower today, with Bitcoin falling below the $34,000 mark and Ethereum falling below $1,800. Still, today, both BTC and ETH options contracts worth billions expire, which may lead to a volatile response from the market overall. JUST IN: $4,550,000,000 worth of #Bitcoin & Ethereum options expire today. — Watcher.Guru (@WatcherGuru) October 27, 2023 Also Read: Bitcoin Reaches All-Time High Against the Argentine Peso, Naira, and Lira $4.5B Worth of BTC and ETH Options Contracts to Expire Today The year thus far has certainly been up and down for the digital asset sector. Still, the prevalence of Bitcoin has seemin...

CyberConnect co-founder Ryan Li believes that creators who want their content to live forever will ditch Web2 social media platforms for Web3 alternatives. The Web3 industry continues its mission to disrupt the World Wide Web, and social media is one of its primary targets. In the 34th episode of Cointelegraph’s Hashing It Out , host Elisha Owusu Akyaw interviews Ryan Li, co-founder of CyberConnect, about the concept of decentralized social media.  Li kicks off the episode by explaining the rationale behind creating social media platforms running on blockchain. Li points out that Web3 social media platforms give content creators the confidence that they won’t be abandoned when the platform gets bigger or shifts its focus to ad revenue, unlike traditional platforms. This feature is built on top of a decentralized financial system, and the speculative nature of the space creates a strong case for SocialFi. Li also highlights updates in recent years that have shone a spotlight on decent...

The founder of the Tron crypto project, the notorious businessman Justin Sun, has become the largest individual staker of Ether (ETH). According to journalist Colin Wu, the address tagged Justin Sun is probably the largest individual ETH staker. The wallet mentioned currently has 282,796 ETH (around $447 million at the time of writing) staked on Lido. The address tagged Justin Sun is probably the largest individual ETH stake r. The two address tagged Justin Sun currently has 282,796 ETH ($439M) stake d on Lido. According to @EmberCN – 0x176f3dab24a159341c0509bb36b833e7fdd0a132 (192,656 ETH)… — Wu Blockchain (@WuBlockchain) October 15, 2023 At the beginning of the month, Sun had already un stake d $32.4 million worth of ETH. On Oct. 4, Sun withdrew 19,999 stake d ETH from the Lido Finance platform and sent them to the Binance exchange. It can be assumed that the businessman has sold digital assets or plans to do so in the near future. Notably, in early 2023, Lido Fin...

ProShares' SETH ETF will start trading soon, following the first Ethereum futures ETFs by about two weeks. ProShares introduced a trio of Ethereum futures ETFs in the recent weeks. Presently, the company is gearing up to provide a distinctive offering. ProShares' Short Ether Strategy ETF (SETH) from the fund group is poised to commence trading shortly, following the debut of the initial Ethereum futures ETFs by about two weeks. SETH, scheduled for listing on the NYSE Arca exchange, aims to achieve daily investment outcomes that mirror the inverse of the daily S&P CME Ether Futures Index performance, as indicated in a filing made on Friday, Oct. 13. The fund does not engage in direct shorting of ether (ETH); rather, it seeks to capitalize on potential declines in the asset's value, as stated in the prospectus. On Friday, the price of ETH stood at approximately $1,540, reflecting a decrease of approximately 6% over the past week. Screenshot of the ProShares SETH filing  ...

The Optimism Network has revealed that it will sell 116 million OP tokens in a series of planned sales. Ethereum layer-2 scaling solution Optimism (OP) has disclosed plans to sell 116 million OP token s to seven private buyers for treasury management purposes At current prices, the sale will see $159 million worth of OP tokens change hands. Starting today, there will be several transactions totaling approximately 116M OP token s. We’re sharing as a heads up to our community that these are planned transactions. — Optimism (_) (@optimismFND) September 20, 2023 While some observers feared the sale would bring about depressed prices from Optimism “dumping” its tokens on the market, it seems unlikely that the sale of the tokens will have any material impact on the price of OP, due to the sale being private. Additionally, the tokens are being sourced from the unallocated portion of the OP token treasury — meaning that they are not part of the circulating supply. Optimism (OP) token...

Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sep. 20. Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July. This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in a X (formerly Twitter)...

The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative. Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet.  Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, while speaking to Cointelegraph said that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a ...

Ethereum is trading in the $1,600 range, and the asset is finding it hard to gather momentum to breach the $2,000 mark. ETH has fluctuated between the $1,500 and $2,000 mark in 2023. The world’s second-biggest cryptocurrency is treading cautiously in the indices and is down nearly 15% since last month. However, leading cryptocurrency analyst Nicholas Merten warned that Ethereum could crash and fall below the $1,000 mark. According to his prediction, ETH could trade in three digits on the charts and plummet to $890 levels. Also Read: XRP Could Reach $10,000 For Its Role in CBDCs, Predicts Analyst Ethereum: ETH Could Be Poised For a Crash & Trade Below $1,000, Predicts Analyst Source: CNN Merten explained to his half-million subscribers on YouTube that Ethereum had more than a year to break out of an ascending triangle pattern. He said that ETH ’s inability to climb above its resistance in the bullish formation makes the cryptocurrency weak and most likely he...

Metagood CEO Danny Yang attributed the move to the Bitcoin network being seen as a more secure platform for its users, among other reasons. The team behind nonfungible token collection OnChainMonkey is shifting its entire collection of 10,000 NFTs from Ethereum to Bitcoin, in a massive undertaking expected to take several months. "A historical transition is on the horizon as we prepare to migrate our flagship collection , OCM Genesis, from Ethereum to Bitcoin,” Metagood co-founder and CEO Danny Yang said in a statement on Sept. 7. The OnChainMonkeys were first launched in September 2021 on Ethereum, but Yang said the migration to Bitcoin Ordinals was due to its community seeing Bitcoin as offering a more secure platform for its users. “The Bitcoin Ordinal protocol is better designed for decentralization and security than the Ethereum NFT protocol. High-value NFTs will win on Bitcoin.” The proposal to migrate to Bitcoin was passed by 99% of OnChainMonkey tokenholders. Yang said ...

Anchorage's new service comes in anticipation of the Ethereum network’s long-promised shift proof-of-stake consensus. Anchorage Digital, a San-Francisco-based digital platform that owns the first federally chartered crypto bank, will open an option to stake the Ethereum (ETH) for institutions. This move comes in anticipation of the Ethereum network’s long-promised shift from proof-of-work (PoW) to proof-of-stake (PoS) protocol.  Anchorage announced on Tuesday its intention to introduce ETH staking — a practice of earning rewards for serving as a transaction validator in the Ethereum blockchain — for institutions. Diogo Mónica, co-founder and president of Anchorage Digital, called staking a win-win for institutional investors and the ecosystem: “By paving the way for institutions to stake their Ethereum, we’re providing heightened legitimacy to market-tested assets–and in the process, eliminating any hot wallet risks for institutions looking to generate new earnings from crypto....

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Pierre Rochard said that Bitcoin is the best digital money network and everything else is worse. Cointelegraph's Joseph Hall interviewed Bitcoin (BTC) advocates Pierre Rochard and Morgen Rochard, the hosts of the Bitcoin for Advisors podcast at the Surfin’ Bitcoin 2022 Event held in France. The group talked about how France can attract more miners, where Bitcoin comes in in terms of financial planning and the difference between Bitcoin and other cryptos.  According to Pierre Rochard, who also works at the mining firm Riot Blockchain, there are two ways for France to attract large-scale Bitcoin miners. The first is to provide assurances in terms of policies on Bitcoin mining. In addition to this, the country should provide a power grid that is favorable for miners. He explained:  “We're seeing Japan is now opening up or changing policies on nuclear power, and I think that France should reinvest in its nuclear power and really they should be able to attract Bitcoin miners mor...

The prototype infrastructure for Norway’s central bank digital currency is based on Ethereum, the Norges Bank officially stated. The Central Bank of Norway has hit a major milestone in digital currency efforts, releasing the open source code for the country’s Central Bank digital currency (CBDC) sandbox. Available on GitHub, the sandbox is designed to offer an interface for interacting with the test network, enabling functions like minting, burning and transferring ERC-20 tokens, the Norges Bank’s official CBDC partner Nahmii said in a blog post. Nahmii stressed that the current version of the code does not support the major Ethereum wallet MetaMask by design and is only privately accessible by users with appropriate credentials. In addition to deploying the appropriate Smart Contracts and access controls, the Norges Bank sandbox includes a custom frontend and network monitoring tools like BlockScout and Grafana. The front end also shows a filterable summary of transactions on the ne...