The securities and Exchange Commission (SEC) has issued a stay of proceedings on the Invesco Galaxy Ethereum #ETF decision, as is usually expected by market analysts during a storm of regulatory anticipation. Such delays, according to Bloomberg analyst James Seyffart, are par for the course and hint at an extended period of waiting. All eyes are now on the important date of May 23rd, which is paramount to the fate of Ethereum spot ETFs.

#Coingecko : #Ethereum ETF Assets Surge To $5.7B
However, as the SEC considering the proposal, the world of cryptocurrencies is rolling forward at an astonishing pace of growth and diversification. A recent full report released by Coingecko, one of the most recognized data analytic platforms in this industry, pointed out some amazing numbers: Ethereum ETFs currently represent a total value of about $5.7 billion from different issuers in Europe and capture 81% of the market share.
Highlighting further on Ethereum ETFs, this report throws a spotlight on the XBT Ethereum Tracker One (COINETH), which is alleged to be the king of the global ETF marketplace with an asset size of $3.34 billion. Following close behind is its competitor, XBT Ethereum Tracker Euro (COINETHE), with the level of total assets constituting $510.93 million. As the world’s inaugural Ether ETFs to set foot on this stage, they certainly set quite a milestone when it comes to experience since their launch in October 2017.

CI Galaxy Ethereum ETF (ETHX), meanwhile, is Canada’s top-spot Ether ETF leader with assets worth $478.35 million as of last week. Meanwhile, Europe’s 21Shares Ethereum Staking ETP (AETH) follows, with $329.42 million assets under management to secure the runner-up position and fortify its first spot Ether ETF position globally.
A notable trend that is seen from this analysis of the geographical dispersion of Ethereum ETFs is that, while Canada and Europe crowd the landscape with a plethora of offerings, the United States lags behind, being a manifestation of the cautious approach by the SEC. Still, with 27 active Ether ETFs around the world, such a market shows an appetite for resiliency and innovative investment avenues.
With the drama of #cryptocurrencies playing out on the global stage, the #Ether ETF offers a glimpse for an investor into a future of digital asset investment. Regulatory uncertainties apart, mainstream adoption is still an issue of contention surrounded by promises and potential.

Big news from Brazil! The country's largest bank, Itau Unibanco, just jumped into the crypto game. Now, they're letting their customers trade cryptocurrencies like #Bitcoin and #Ether through their investment platform.Guto Antunes, the head of digital assets at Itau, spilled the beans and mentioned that they're starting with #Bitcoin but have big plans. They want to bring in more cryptocurrencies for trading down the road. However, it's not a free-for-all just yet; they're keeping an eye on regulations and will expand cautiously based on how things unfold.Interestingly, this move by Itau comes not long after some others decided to exit the crypto scene in Brazil. XP, a brokerage and investment company, closed its crypto services, and financial services firm PicPay, part of the conglomerate J&F (which also controls meatpacker JBS), pointed to regulatory uncertainties for their decision.So, while some are stepping back, Itau Unibanco is taking a bold step forward into the exciting world of cryptocurrency trading! 🚀

Navigating Ethereum Gas Fees: Challenges and Solutions in the Year 2024
Ethereum, a pioneering blockchain platform, has long faced challenges with gas fees—the transaction fees required to execute operations on the network. In 2024, the issues surrounding Ethereum gas fees persist, impacting user experience and hindering broader adoption. This article delves into the challenges posed by Ethereum gas fees and explores potential solutions that could shape the landscape of transaction costs on the Ethereum network.
The Challenge of High Gas Fees:
Ethereum’s popularity has led to increased congestion on its network, resulting in elevated gas fees. Users, developers, and businesses face the dilemma of high transaction costs, which can make certain operations economically unfeasible and deter potential users from engaging with decentralized applications (DApps).
Impact on Decentralized Finance (DeFi):
Decentralized Finance, a prominent sector on the Ethereum network, has been significantly impacted by soaring gas fees. DeFi transactions, which include activities like lending, trading, and yield farming, often incur substantial costs, limiting accessibility and participation.
Scalability Solutions:
Ethereum 2.0, an ambitious upgrade to Ethereum, aims to address scalability challenges through the transition from Proof of Work (PoW) to Proof of Stake (PoS). While this transition is ongoing, layer 2 scaling solutions such as Optimistic Rollups and zk-Rollups are being implemented to alleviate congestion and reduce gas fees.
Optimistic Rollups:
Optimistic Rollups are layer 2 scaling solutions that allow for faster and cheaper transactions by processing most transactions off-chain and then submitting a summary to the Ethereum mainnet. This approach aims to maintain security while significantly reducing gas fees.
zk-Rollups:
Zero-Knowledge Rollups, or zk-Rollups, utilize advanced cryptographic techniques to bundle multiple transactions into a single proof, which is then submitted to the Ethereum mainnet. This approach enhances scalability and reduces gas fees while preserving a high level of security.
EIP-1559 and Fee Burn Mechanism:
Ethereum Improvement Proposal (EIP) 1559 is another significant upgrade designed to improve the user experience and address gas fee concerns. EIP-1559 introduces a fee burn mechanism that aims to make gas fees more predictable by adjusting the supply of Ethereum based on network demand.
User Education and Optimization:
Educating users on gas fee optimization strategies is crucial. Implementing tools and practices such as choosing optimal transaction times, utilizing gas fee prediction platforms, and leveraging wallet features for fee adjustments can empower users to navigate Ethereum’s fee landscape more effectively.
Conclusion:
As Ethereum continues to evolve, addressing the challenges posed by gas fees remains a top priority. The ongoing development of Ethereum 2.0, the implementation of layer 2 scaling solutions, and the introduction of EIP-1559 are promising steps toward creating a more scalable, efficient, and user-friendly Ethereum network. Navigating the challenges of gas fees in 2024 requires a collaborative effort from developers, users, and the broader Ethereum community to foster a sustainable and inclusive blockchain ecosystem.
#EthereumGasPrice #EthereumInsights #Ether

In the world of cryptocurrency, Ethereum has always been a popular choice for investors and traders alike due to its high market capitalization and strong community support. However, a recent development has made the digital asset even more attractive to those seeking a scarce digital asset.

According to a report by IntoTheBlock, Ethereum has become deflationary due to the burning of transaction fees, resulting in a reduction of 66k ETH in supply in 2023.

This move has been made possible by Ethereum’s transition to proof-of-stake (PoS) consensus, known as the ‘Merge’ transition, which took place in September 2022. Under the new consensus mechanism, a fraction of the transaction fees generated on the Ethereum network is being burnt, which means that the supply of Ethereum is decreasing over time. This is a significant development for the crypto community, which has been eagerly anticipating the move to PoS, as it is more energy-efficient and sustainable than the previous proof-of-work (PoW) consensus.

The reduction in Ethereum’s supply has been welcomed by crypto enthusiasts, who see the scarcity of digital assets as a key factor in their value. The news has caused a significant shift in the supply held by large Ethereum addresses.

According to Santiment data, addresses holding 10-10K ETH have collectively added 3.61M coins in the past year, while addresses with 10K-10M ETH have collectively dumped 9.43M in the same timeframe.

This shift in supply held by large Ethereum addresses is an indication of the growing interest in the digital asset, especially with the recent development of Ethereum becoming deflationary. It is also a reflection of the increasing adoption of Ethereum, as more and more investors and traders are seeing the potential of the network and its associated digital asset.

In conclusion, the burning of transaction fees on the Ethereum network has resulted in a significant reduction in the supply of Ethereum, making it even more attractive to those seeking a scarce digital asset. The shift in supply held by large Ethereum addresses is a testament to the growing interest in the network and its associated digital asset, which is expected to continue as Ethereum continues to evolve and grow.

#Ethereum #ETH #Ether #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

Bitcoin ATM manufacturer, General Bytes, has announced that it will be compensating its cloud-hosted customers who lost funds during a security breach that occurred in March.

The company confirmed that a #hacker had gained access to sensitive information, including passwords, private keys, and funds from hot wallets on March 17 and 18.

The hacker was able to remotely upload a Java application into General Bytes' terminals, which enabled them to steal at least 56 #bitcoin (worth over $1.5 million) and 21.82 #Ether (worth $37,000) from the affected customers.

General Bytes immediately took action to prevent further unauthorized access to its systems and released an incident report detailing the attack on March 23.

Since then, the company has been "working tirelessly" to improve its #security measures to prevent similar incidents from happening in the future.

General Bytes confirmed that it has thoroughly assessed the damages caused by the hack and is now reimbursing its affected customers.

In a statement, the company expressed its commitment to protecting its customers' funds and information.

It also warned other companies to be vigilant and proactive in securing their systems against potential cyberattacks. The security breach at General Bytes highlights the need for strong security measures to protect against the growing threat of cybercrime in the cryptocurrency industry.