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According to Decrypt, President-elect Donald Trump has nominated Scott Bessent, a well-known hedge fund manager with a pro-cryptocurrency stance, to be the next Secretary of the Treasury. This announcement was reported by multiple news outlets late Friday. Bessent, who founded Key Square Group, has been a key economic adviser to Trump's campaign and is anticipated to significantly influence the administration's economic policies. Born in 1962 in Conway, South Carolina, Scott Bessent graduated from Yale University in 1984. He began his finance career at Brown Brothers Harriman before joining Kynikos Associates. In 1991, he became a partner at Soros Fund Management, where he played a crucial role in the firm's notable bet against the British pound. After leaving Soros Fund Management in 2000, Bessent established a $1 billion hedge fund, which he managed until 2005. He also served as a senior investment advisor at Protégé Partners. In 2011, Bessent returned to Soros Fund Management as Chief Investment Officer, a position he held until 2015, before founding Key Square Group, a global macro investment firm. Bessent is a vocal advocate for cryptocurrencies, viewing them as essential to the future of finance. He has expressed optimism about digital assets' role in promoting financial freedom and innovation. His pro-crypto stance aligns with the administration's interest in integrating digital currencies into the broader economic framework. Bessent has supported both Democratic and Republican candidates, hosting a fundraiser for Vice President Al Gore's presidential campaign in 2000 and more recently contributing over $2 million to President-elect Trump's campaign while providing economic policy guidance. Bessent's nomination is subject to Senate confirmation. If confirmed, he will be responsible for implementing the administration's economic agenda, including tax reforms and policies related to digital currencies. His extensive experience in finance and investment is expected to shape the Treasury Department's approach to emerging financial technologies.

On Nov 22, 2024, 23:11 PM(UTC). According to Binance Market Data, BNB has crossed the 630 USDT benchmark and is now trading at 630.01001 USDT, with a narrowed 1.16% increase in 24 hours.

According to Odaily, stablecoin assets have experienced significant growth since April, marking a notable increase in the cryptocurrency sector. This development comes amid concerns over the sustainability of U.S. debt, which is now considered a primary risk to financial stability. The rise in stablecoin assets reflects a broader trend in the digital currency market, where investors are increasingly seeking alternatives to traditional financial instruments. In addition to the surge in stablecoin assets, hedge fund leverage has reached its highest level since 2013, or is hovering near such levels. This increase in leverage indicates a heightened risk appetite among hedge funds, which could have implications for market volatility and financial stability. The combination of rising stablecoin assets and increased hedge fund leverage underscores the complex dynamics currently at play in the financial markets, as investors navigate a landscape marked by both opportunity and risk.

According to ShibDaily, recent developments in the cryptocurrency sector indicate a growing institutional and mainstream adoption, reflecting a shift in investor sentiment. Notably, Charles Schwab Corp. is preparing to enter the spot cryptocurrency market, underscoring the asset class's increasing legitimacy. Incoming CEO Rick Wurster expressed his personal regret for not investing in crypto earlier, during a Bloomberg Radio interview, which has sparked excitement within the cryptocurrency community. This move signifies a significant shift in mainstream finance, with more institutional investment plans anticipated. In regulatory news, the U.S. Securities and Exchange Commission (SEC) is engaging with issuers about a potential spot Solana ETF, reviewing S-1 applications from firms such as VanEck and 21Shares. Bitwise Asset Management has also announced its intention to file an S-1 for a Solana ETF. Issuers are optimistic about approval, citing positive interactions with SEC staff and an anticipated shift towards a more crypto-friendly administration by 2025. Furthermore, with Gary Gensler's upcoming departure from the SEC, potential successor Teresa Goody Guillén has emphasized the need for the agency to rebuild trust and move away from regulation by enforcement. Guillén advocates for investor protection and enhancing the U.S.'s role in the global financial market, which could lead to a more cooperative regulatory environment for cryptocurrency, attracting institutional capital. In legal developments, five individuals linked to the hacking group "Scattered Spider" have been charged by U.S. federal prosecutors for stealing $11 million in cryptocurrency and sensitive data. They used phishing scams and SIM-swapping to target at least 29 victims, with one victim losing over $6.3 million. The defendants face charges including conspiracy, wire fraud, and aggravated identity theft. In the DeFi space, Shibarium has reached a record-high total value locked (TVL) of $8.12 million, driven largely by K9 Finance DAO with $3.57 million. WoofSwap, a single-chain decentralized exchange (DEX), contributes $887,662, while ChewySwap, a two-chain DEX, adds $508,262. The platform experienced significant growth in user activity and transaction volume between November 1 and 21. This surge highlights the strong performance of Shibarium's key DeFi protocols.

According to Odaily, Jaime Lizarraga, a Democratic member of the U.S. Securities and Exchange Commission (SEC), has announced his decision to resign more than two years before the end of his term. Lizarraga, who was appointed to a five-year term in 2022, cited his wife's health issues as the reason for his early departure. His resignation is set to take effect in January, coinciding with the anticipated inauguration of a new administration led by former President Donald Trump. Lizarraga's departure will leave the SEC with two Republican members and one Democrat, altering the political balance within the commission. This shift comes at a critical time as the SEC navigates various regulatory challenges and policy decisions. Lizarraga, a former aide to House Speaker Nancy Pelosi, has played a significant role in the commission since his appointment. His early resignation follows an announcement by SEC Chairman Gary Gensler, who also plans to leave the agency on the day of Trump's expected inauguration. The changes in the SEC's composition are expected to influence the agency's direction and priorities. With a Republican majority, the commission may see shifts in regulatory approaches and enforcement strategies. Lizarraga's decision underscores the personal and political dynamics at play within the SEC as it prepares for a new administration. The upcoming changes highlight the impact of political transitions on regulatory bodies and their leadership, with potential implications for financial markets and regulatory policies.

According to U.Today, Litecoin (LTC) has recently formed a golden cross on its daily charts, capturing the attention of the cryptocurrency community. This development coincides with Bitcoin's significant rise, nearing the $100,000 mark and reaching a record high of $97,931. A golden cross occurs when a short-term moving average surpasses a long-term moving average, indicating potential upward price movement. For Litecoin, the 50-day moving average has crossed above the 200-day moving average, confirming this bullish signal. The last occurrence of a golden cross for Litecoin was in February 2024, which led to a notable price increase, with LTC reaching yearly highs of $112. This historical context fuels traders' optimism about the current situation. Analysts suggest that Litecoin's golden cross could lead to a breakout, potentially pushing the cryptocurrency through key resistance levels and aiming for new yearly highs above $112. If successful, Litecoin might target the $300 mark. However, the extent of the price increase could be influenced by external factors such as market conditions and broader economic trends. In recent trading sessions, Litecoin has surged from lows of $81 to $92, marking a 4% increase in the last 24 hours and an 11% rise over the week. Despite the positive implications of a golden cross, there remains a risk of market correction. A setback in the broader cryptocurrency market or a shift in investor sentiment could lead to a pullback for Litecoin. In such a scenario, Litecoin might test support levels near the daily moving averages of $71.06 and $72.94. Additionally, a golden cross does not always result in an immediate price rally. Litecoin could experience a period of consolidation, where the price moves sideways as the market absorbs the new technical pattern. This scenario, while not immediately bullish, sets the stage for potential long-term growth. Overall, the formation of a golden cross in Litecoin's charts is a significant development, but its impact will depend on various market dynamics and investor behavior.

According to U.Today, Pavel Durov, the creator of Telegram, recently highlighted the financial success of a developer who created a mini app on the Telegram platform. In a tweet, Durov shared that this developer managed to generate $1 million in net profit within just 20 days of launching the app. Remarkably, the developer accomplished this feat over a single weekend without any team, budget, or investors. Durov did not disclose the identity of the developer or the specific app responsible for this impressive achievement. However, it is speculated that the success is linked to Telegram's recent expansion of tools available for developers creating mini-apps. On November 5, Telegram announced new features for developers, including full-screen mode, home screen shortcuts, subscription plans, emoji status access, advertisement monetization, and media sharing capabilities. At the time of the announcement, only two features—Expanded Messaging Limits and Ad Monetization—had been implemented, with others expected to roll out within two to four weeks. This development underscores the potential for individual developers to achieve significant financial success by leveraging Telegram's platform and tools. It also highlights the growing opportunities within the digital economy for innovative app development, even without substantial resources or backing. Telegram's commitment to enhancing its platform for developers suggests a continued focus on fostering innovation and entrepreneurship within its ecosystem.

According to U.Today, the volume of XRP payments between accounts has significantly decreased over the past four days, dropping by more than two million. This decline follows a period of heightened activity on the XRP Ledger, raising concerns about the sustainability of the recent price increase and on-chain performance. Earlier this month, XRP experienced a notable rise in active accounts, completed transactions, and XRP burned on fees, coinciding with a remarkable price spike. However, the recent drop in payment volume may suggest a halt in transactions or a shift in market participant behavior. In early November, the payment volume graph displayed significant peaks, likely driven by increased trading and whale movements, but these have since diminished. The inability of XRP to maintain its steep upward trajectory could indicate that the buying momentum has waned. A decline in payment volumes is often linked to institutional and retail participants not following through. Despite this, XRP has managed to maintain a trading level of approximately $1.11, following its impressive rise from $0.50 earlier this month. This stability, despite reduced payment volume, suggests that the overall market sentiment remains cautiously optimistic. The volume profile supports this view, showing lower trading activity compared to the rising phase. Additionally, the asset remains in the overbought zone according to the Relative Strength Index (RSI), which could indicate a potential correction. Key levels to monitor include $0.90 and $0.78 if XRP fails to maintain support at $1.00. Despite the current on-chain situation, XRP continues to be one of the strongest assets in the market and could potentially lead a swift market ascent.

According to U.Today, IntoTheBlock has released a report focusing on Ethereum's on-chain activity, highlighting several potential resistance points. Despite the market's attention on Bitcoin, Ethereum owners are optimistic about a price increase in the near term, with minimal selling pressure observed. The report identifies five crucial indicators for traders and investors to monitor, which could provide insights into Ethereum's future price movements. The first indicator is Ethereum's daily transactions, which, when rising, suggest increased network activity and potentially higher demand for ETH. The second is large holder netflow, measuring the net movement of Ethereum by large wallet owners, often referred to as whales. An accumulation by whales indicates their long-term confidence in Ethereum and reduces potential sell pressure. The third indicator is the short-term holder address count, which tracks speculative activities by short-term investors. An increase in this count may signal growing retail interest in Ethereum. The fourth indicator is the holding time of transacted coins. A decrease in this metric suggests that long-term holders are retaining their ETH, while demand continues to rise. Lastly, exchange inflows and outflows are crucial to monitor, as large inflows indicate selling intentions, whereas significant outflows suggest accumulation and long-term holding. Currently, IntoTheBlock notes that these indicators are presenting mixed signals. The number of new ETH wallets remains below levels seen in previous bull markets, likely due to the growing popularity of Layer-2 solutions. Although the daily transaction count has increased, it is still lower than during past bull markets. Nevertheless, transaction volumes continue to grow as large holders accumulate ETH, demonstrating confidence in its long-term potential. At present, Ethereum is trading at $3,323.

According to U.Today, Bitcoin exchange-traded funds (ETFs) are on the verge of surpassing Satoshi Nakamoto as the largest holders of Bitcoin by market capitalization. Data from ETF analyst Eric Balchunas indicates that these financial products are 97% of the way to reaching this significant milestone. Despite this, some experts argue that the estimated 1.1 million Bitcoins attributed to Satoshi may be overstated. Bitcoin ETFs are also nearing a similar milestone in comparison to gold ETFs, with holdings at 97% of the latter's total. Balchunas has previously suggested that Bitcoin ETFs could potentially triple the holdings of gold ETFs, citing the appeal of Bitcoin's higher volatility as a factor. Galaxy Digital CEO Mike Novogratz has echoed this sentiment, stating that Bitcoin is more attractive to younger investors than gold and predicting that Bitcoin could surpass gold's market cap within the next decade. Bitcoin ETFs continue to be a significant bullish factor for the cryptocurrency. Data from crypto analytics platform SoSoValue shows that Bitcoin ETFs attracted $795 million in new inflows on Wednesday, with Bitcoin's IBIT accounting for over $626 million of that amount. Additionally, spot Bitcoin ETFs have now exceeded $100 billion in net assets, marking a notable achievement for these relatively new financial instruments. CoinGecko data also reveals that Bitcoin's price reached a new record high, surpassing the $98,000 mark earlier today.

According to U.Today, Stuart Alderoty, Ripple's Chief Legal Officer, has shared his insights on the potential future direction of the U.S. Securities and Exchange Commission (SEC) amid discussions about a change in its leadership. As speculation grows over who might assume the role of the next SEC chair, Alderoty emphasizes the need for a strategic shift that could harmonize the relationship between cryptocurrency and regulation. Alderoty advocates for immediate action to address ongoing issues within the crypto sector. He suggests that the new SEC chair should halt all non-fraud-related cryptocurrency litigation from the outset of their tenure. This approach would mark a significant departure from the current enforcement-focused strategy, aiming instead to foster industry growth within a well-defined regulatory framework. Alderoty believes that such a shift would benefit the crypto industry by providing clearer guidelines and reducing regulatory uncertainty. Furthermore, Alderoty highlights the importance of retaining Commissioners Hester Peirce and Mark Uyeda. He argues that their continued involvement would ensure more balanced discussions on crypto-related policies, guided by consistency and expertise. By collaborating with these commissioners, the next SEC leader could help steer the agency towards a more equitable regulatory environment for the crypto sector. Alderoty's recommendations also stress the need for the SEC to collaborate with other financial regulators and Congress. He suggests that the agency should work towards creating straightforward and transparent rules for the cryptocurrency industry, rather than positioning itself as the sole authority. This perspective addresses ongoing concerns within the industry about the potential overreach of the SEC's power. As the debate over the SEC's future direction intensifies, Alderoty's comments shift the focus from individual leadership candidates to broader systemic reforms. His proposals underscore the importance of establishing a regulatory framework that supports innovation while ensuring compliance, potentially shaping the agency's future under new leadership.

On Nov 22, 2024, 21:45 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,300 USDT benchmark and is now trading at 3,301.5 USDT, with a narrowed narrowed 1.26% decrease in 24 hours.

According to Cointelegraph, Mark Uyeda, a Republican commissioner at the United States Securities and Exchange Commission (SEC), has expressed his commitment to enhancing regulatory clarity for cryptocurrencies if he is chosen and confirmed as the next head of the agency. In a conversation with Fox Business on November 22, Uyeda aligned with several of President-elect Donald Trump's views on digital assets, criticizing the SEC under Chair Gary Gensler for what he described as a "war on crypto." Gensler announced his intention to step down as SEC Chair on January 20, coinciding with Trump's scheduled inauguration. Uyeda emphasized the need for regulatory clarity, stating, "First off, from a regulatory perspective, we can provide the appropriate clarity. Some crypto is not even a security at all, but we need to make clear whether you fall within SEC jurisdiction or not." Experts have speculated that Trump might consider Uyeda as a potential candidate for the SEC Chair position following Gensler's departure. While the president-elect has announced several candidates for various roles in his administration after winning the November 5 election, no decision has been made regarding the leadership of the securities regulator. Uyeda suggested that the SEC could explore the creation of regulatory sandboxes for crypto projects to foster innovation in the United States. He noted that any regulatory changes would require collaboration with Congress and the White House to ensure a "cohesive and comprehensive approach." He further commented, "Whoever steps into that job, there is a lot of work that needs to be done to address some of the regulatory excesses, not only at the SEC but at other administrative agencies." The SEC commissioner refrained from commenting on his willingness to accept the top position at the regulator. Dan Gallagher, considered a leading contender by many, reportedly expressed disinterest in the role on November 22. President Joe Biden had nominated Uyeda to fill a vacant seat at the SEC in 2022 and for a second term in 2023. During his tenure as a commissioner, Uyeda has been critical of the SEC's enforcement actions against crypto firms, arguing that the agency has not provided clear regulatory guidelines. The SEC reported on November 22 that it had initiated 583 enforcement actions in the 2024 fiscal year, resulting in approximately $8.2 billion in financial remedies. Notable enforcement cases included alleged Ponzi schemes HyperFund and Novatech, as well as "false and misleading disclosures to investors" regarding crypto exposure from Silvergate Capital.

According to Finbold, Ethereum (ETH) has recently experienced a significant price surge, which experts suggest could mark the beginning of a new bull market. This development follows Ethereum's breakout from a prolonged consolidation phase, indicating strong bullish sentiment as the cryptocurrency approaches key resistance levels and the potential for a new all-time high. Prominent cryptocurrency analyst Alan Santana has pointed out that Ethereum's price rebound is largely supported by the 200-day moving average (MA200), a crucial long-term support level. This moving average has consistently held firm, including in November 2022, October 2023, and more recently, late 2024. Following a retest in August this year, Ethereum successfully consolidated above the MA200, leading to its strongest weekly gains since April 2021. Santana emphasized that the current weekly candle, backed by the highest trading volume since November 2022, confirms a robust bullish breakout. Ethereum faces immediate resistance at $3,342, followed by $4,011, and a significant hurdle at its previous all-time high of around $5,800. Beyond these levels, projected targets include $7,322 and $7,871, based on the extension of the previous bull-market cycle. Unlike earlier cycles, where cryptocurrency faced skepticism and opposition from governments and traditional finance, the current market benefits from widespread legal acceptance and global support, paving the way for unprecedented growth. Adding to the optimism, crypto trading expert Rekt Capital notes that Ethereum is currently breaking out of its short-term bull flag, indicating strong bullish momentum. If this breakout holds, ETH could revisit the $3,700 resistance level, marking a crucial step in its upward trajectory. This move reflects growing optimism in the market as Ethereum continues to build on its recent gains and targets higher levels. At the time of reporting, Ethereum is trading at $3,300, marking a 1.5% drop in the last 24 hours but maintaining a strong 8% gain over the past week. Institutional players and large investors, known as whales, are driving market optimism, with a significant accumulation of 430,000 ETH worth $1.4 billion in just two weeks, as reported by Ali Martinez. This activity underscores growing confidence among large-scale investors. Sentiment data further supports this bullish outlook, with smart money sentiment soaring to 2.28 on a scale of -5 to 5, compared to a neutral 0.06 from retail investors. The optimism aligns with AI projections, which set a year-end target of $3,800 to $4,200 for ETH, suggesting further upside as whales and institutional players position for the next rally.

According to Cointelegraph, the United States Securities and Exchange Commission (SEC) is undergoing significant leadership changes with the announcement of Commissioner Jaime Lizárraga's resignation. Lizárraga, who has been with the SEC for less than three years, will step down on January 17 to spend more time with his wife, who is battling cancer. His departure marks a pivotal moment for the agency as it navigates future regulatory challenges. Lizárraga's career at the SEC began in the 1990s as a deputy director of legislative affairs. He later served as a senior adviser to House Speaker Nancy Pelosi from January 2011 to July 2022, where he played a crucial role in shaping financial legislative initiatives, including the Dodd-Frank Wall Street Reform and Consumer Protection Act. During his tenure as Commissioner, Lizárraga was actively involved in regulatory efforts concerning climate-related risk disclosures, cybersecurity, and data breach disclosures. The announcement of Lizárraga's resignation follows closely on the heels of SEC Chair Gary Gensler's upcoming departure, which was disclosed on November 21. These changes are occurring as President-elect Donald Trump prepares to take office in January, potentially leading to a shift in the SEC's regulatory approach. Gensler's term was characterized by a stringent focus on the crypto industry, primarily through enforcement actions. His exit, along with Lizárraga's, leaves the Commission with a reduced Democratic presence, prompting speculation about the agency's future direction. The leadership transitions at the SEC suggest the possibility of a new era for the agency, particularly in its approach to digital assets. During a speech at the Bitcoin Conference in Nashville, Tennessee, in July, Trump expressed his intention to "fire" Gensler on his first day in office if elected, aiming to appeal to crypto voters. With new leadership anticipated at both the White House and the SEC, there is an expectation of a more favorable regulatory environment for the crypto industry in the United States. In response to these developments, financial firms have already begun to take action. On the same day Gensler announced his departure, the Chicago Board Options Exchange's BZX Exchange submitted four 19b-4 filings for asset managers to list spot Solana (SOL) exchange-traded funds. These filings include offerings from Bitwise, VanEck, 21Shares, and Canary Capital, indicating a proactive approach by the industry to adapt to the anticipated regulatory changes.

According to Cointelegraph, state pension plans in the United States are increasingly allocating assets to cryptocurrencies, unlike private pension plans that face stricter regulations under the Employee Retirement Income Security Act of 1974 (ERISA). Attorney Allie Itami from Lathrop GPM highlighted that the Employee Benefits Security Administration (EBSA), responsible for enforcing ERISA, has expressed skepticism about private pension plans investing in digital assets due to their volatile nature. This caution stems from a 2022 compliance guidance issued by the EBSA, which has deterred ERISA-covered pension plans from incorporating cryptocurrencies into their portfolios. The stringent enforcement of ERISA regulations and the associated fiduciary liability have limited the involvement of private pension managers in the crypto market. Consequently, state pension plans are expected to continue dominating capital inflows into cryptocurrencies from retirement investment accounts unless there is a change in the guidance. Several state and municipal pension funds have already ventured into the crypto space. For instance, the State of Wisconsin’s Investment Board (SWIB) announced a $164 million investment in Bitcoin ETFs in May. Similarly, Michigan disclosed a $6.6 million investment in Bitcoin ETFs in July and expanded its digital asset exposure in November 2024 by acquiring shares in the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust. Florida's chief financial officer, Jimmy Patronis, is advocating for the inclusion of Bitcoin in the state's pension programs. He described Bitcoin as "digital gold" and urged state pension funds to consider exposure to it. Patronis emphasized Bitcoin's potential as a hedge against inflation and a safeguard against central bank digital currencies during an appearance on CNBC, asserting that "Crypto is not going anywhere." This growing interest from state pension funds underscores a significant shift in the investment landscape, as they seek to capitalize on the potential benefits of digital assets.

On Nov 22, 2024, 17:10 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 99,000 USDT benchmark and is now trading at 99,096 USDT, with a narrowed 1.84% increase in 24 hours.

According to Odaily, Whale Alert has detected that Tether Treasury minted 1 billion USDT on the Ethereum network at approximately 00:47 UTC+8 today. Tether's CEO, Paolo Ardoino, confirmed that this transaction is authorized but not yet issued. This means the amount will be used for future issuance requests and as inventory for on-chain exchanges.

According to Odaily, recent data disclosed by Arkham on the X platform reveals that the German government previously held 49,858 bitcoins, which are currently valued at $4.92 billion. In July of this year, the government sold its bitcoin holdings, generating $2.89 billion at an average price of $57,900 per bitcoin. This sale resulted in a missed opportunity for an additional $2.03 billion in potential profits. The decision to sell the bitcoins at that time has sparked discussions regarding the timing and strategy behind the sale. The significant difference between the sale proceeds and the current valuation highlights the volatility and unpredictability of the cryptocurrency market. The German government's move reflects a cautious approach, prioritizing immediate financial gains over potential future profits. This development underscores the challenges faced by governments and institutions in managing cryptocurrency assets. As the market continues to evolve, the decision-making processes surrounding the acquisition and liquidation of digital currencies remain complex and fraught with risk. The German government's experience serves as a case study for other entities considering similar actions in the volatile world of cryptocurrencies.

According to DLNews, Ethereum, the world's second-largest cryptocurrency, is facing criticism for its sluggish growth compared to Bitcoin and Solana. Despite its current price of approximately $3,300, Ethereum remains significantly below its all-time high of $4,878 from November 2021. However, there are indications that Ethereum might soon experience movement after hovering around the $3,000 mark for several weeks. Ryan Rasmussen, head of research at Bitwise, noted that a $500 million wealth management firm recently requested a presentation on Ethereum, suggesting growing interest. This comes after an analyst from UK bank Standard Chartered predicted that a potential Donald Trump election victory could propel Ethereum's price to $10,000 by 2025. A Republican win in the White House, Congress, and Senate is perceived as favorable for the cryptocurrency sector, potentially leading to a more supportive government. Despite a 35% growth since November 5, Ethereum's performance lags behind Bitcoin, Solana, and XRP, which have surged by 45%, 62%, and 180%, respectively, during the same period. Eliezer Ndinga, head of strategy at crypto asset manager 21.co, attributes Ethereum's underperformance to three main factors: a lack of a clear narrative, the timing of the Ethereum ETF launch in midsummer, and the rise of Solana. The launch of spot Ethereum ETFs in July coincided with a period when stocks and cryptocurrencies typically underperform, leading to reduced institutional interest. Investor exposure dropped to 26% from a June peak of 63%, and sentiment among investors is at its lowest since 2021. Ethereum ETFs showed some positive signs last week with six consecutive days of inflows, but this was followed by six days of outflows, according to Coinglass. Ethereum's value proposition is seen as difficult to convey to investors, with Bitcoin dominating the sound money narrative and Solana offering faster transaction speeds. Ndinga likened Ethereum to "2G" compared to Solana's "5G," suggesting that Solana might eventually surpass Ethereum in value. Duncan Trenholme, co-head of digital assets at TP Icap, highlighted the challenges traditional investors face in understanding Ethereum ETFs, often questioning its role in investment portfolios. In response, Ethereum is exploring ways to enhance its appeal to investors. Researcher Justin Drake recently proposed measures to increase Ethereum's decentralization and update its infrastructure, aiming to address technical issues, implement new cryptographic techniques, and protect against future security risks from quantum computers. Additionally, traders are optimistic about Ethereum's price prospects, with open interest for bullish Ethereum options significantly higher than bearish bets, and many traders holding options to purchase ETH at $4,000, indicating expectations of a price rally.