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Cboe to Launch First Cash-Settled Options for Spot Bitcoin-Linked ETFs on December 2 š
#Cboe Global Markets will launch the first cash-settled index options tied to spot Bitcoin prices on December 2, 2024. These options will be based on the newly developed Cboe Bitcoin U.S. ETF Index (CBTX), which tracks the performance of spot Bitcoin ETFs listed on U.S. exchanges. The product suite includes standard options, mini index options (#MBTX ), and customizable FLEX options, all designed for cash settlement and European-style exercise.
This initiative provides investors exposure to spot Bitcoin price movements without holding the asset directly, expanding access to cryptocurrency derivatives. The launch aligns with Cboeās broader strategy to enhance its digital asset offerings, which include Bitcoin and #Ether futures trading.
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#Binance
#crypto2024
#Cboe Global Markets will launch the first cash-settled index options tied to spot Bitcoin prices on December 2, 2024. These options will be based on the newly developed Cboe Bitcoin U.S. ETF Index (CBTX), which tracks the performance of spot Bitcoin ETFs listed on U.S. exchanges. The product suite includes standard options, mini index options (#MBTX ), and customizable FLEX options, all designed for cash settlement and European-style exercise.
This initiative provides investors exposure to spot Bitcoin price movements without holding the asset directly, expanding access to cryptocurrency derivatives. The launch aligns with Cboeās broader strategy to enhance its digital asset offerings, which include Bitcoin and #Ether futures trading.
If you enjoy my content, feel free to tip me ā¤ļø
#Binance
#crypto2024
#Write2earn Ether Surges on US Regulatory Shift Toward ETFs: What's Next?
#Ether #Ethereum #Ethereum $ETH
Rising Bets on Ether: Investors are increasingly bullish on Ether following the SEC's approval of exchange-traded funds (ETFs) for the digital asset. This regulatory move sparked a 26% rise in Ether's value over the past week, its largest weekly gain since the 2021 bull market.
ETF Launches Drive Speculation: The SEC's decision is drawing parallels with the January launch of spot-Bitcoin ETFs, which have amassed $59 billion in assets. However, Ether's popularity and investor interest remain uncertain.
Staking Exclusion: Spot-Ether ETFs won't participate in staking, potentially making them less attractive than directly holding Ether tokens.
Awaiting Further Approvals: Firms like BlackRock and Fidelity need more SEC approvals to launch their Ether ETFs. As of Monday morning in London, Ether was trading at around $3,900, while Bitcoin held steady at $68,500.
Market Outlook: Chris Weston of Pepperstone Group suggests that Etherās risk remains to the upside, viewing pullbacks as buying opportunities.
Future Scenarios for Ether:
Data from Deribit shows traders betting on Ether reaching $5,000, with its current record at $4,866. The T3 Ether Volatility Index indicates that traders expect more price swings for Ether compared to Bitcoin.
Institutional Demand:
Analysts are monitoring CME Ether futures for signs of US institutional interest. Although open interest is rising, it remains lower than CME Bitcoin futures, suggesting less institutional engagement with Ether. Noelle Acheson notes that this could imply a lukewarm reception for Ether ETFs initially.
Conclusion: The future of Ether and its ETFs is uncertain but promising. As the SEC's decisions unfold, investors are poised for potential gains amid expected market volatility.
#Ether #Ethereum #Ethereum $ETH
Rising Bets on Ether: Investors are increasingly bullish on Ether following the SEC's approval of exchange-traded funds (ETFs) for the digital asset. This regulatory move sparked a 26% rise in Ether's value over the past week, its largest weekly gain since the 2021 bull market.
ETF Launches Drive Speculation: The SEC's decision is drawing parallels with the January launch of spot-Bitcoin ETFs, which have amassed $59 billion in assets. However, Ether's popularity and investor interest remain uncertain.
Staking Exclusion: Spot-Ether ETFs won't participate in staking, potentially making them less attractive than directly holding Ether tokens.
Awaiting Further Approvals: Firms like BlackRock and Fidelity need more SEC approvals to launch their Ether ETFs. As of Monday morning in London, Ether was trading at around $3,900, while Bitcoin held steady at $68,500.
Market Outlook: Chris Weston of Pepperstone Group suggests that Etherās risk remains to the upside, viewing pullbacks as buying opportunities.
Future Scenarios for Ether:
Data from Deribit shows traders betting on Ether reaching $5,000, with its current record at $4,866. The T3 Ether Volatility Index indicates that traders expect more price swings for Ether compared to Bitcoin.
Institutional Demand:
Analysts are monitoring CME Ether futures for signs of US institutional interest. Although open interest is rising, it remains lower than CME Bitcoin futures, suggesting less institutional engagement with Ether. Noelle Acheson notes that this could imply a lukewarm reception for Ether ETFs initially.
Conclusion: The future of Ether and its ETFs is uncertain but promising. As the SEC's decisions unfold, investors are poised for potential gains amid expected market volatility.
š¼ šµ A win for Bitcoin.
Pro Bitcoin candidate Nayib Bukele have been relected as El Salvador šøš» president for the second term in office.
Go Bukele Go Bitcoin
#BTC #Write2Earn #Ether #Sol
Pro Bitcoin candidate Nayib Bukele have been relected as El Salvador šøš» president for the second term in office.
Go Bukele Go Bitcoin
#BTC #Write2Earn #Ether #Sol
TheĀ U.S. Department of JusticeĀ announced on Thursday theĀ seizure of 30,000 #Ether Ā ( #ETH ), valued at over $54 million, that had allegedly been used forĀ illegal narcotics distributionĀ in New Jersey. The assets were traced back toĀ Christopher Castelluzzo, who was involved inĀ narcotics operations on darknet marketsĀ from 2013 to 2015.
Research from senior Bloomberg analyst Eric Balchunas and associate analyst Andre Yapp suggests that the rise of spot Bitcoin exchange-traded funds (ETFs) is already threatening to overtake gold ETFs in assets under management.
Institutional investors are heavily allocating their portfolios toward #Ether , followed closely by #Bitcoinā¬ , while retail investors are focusing more on the flagship cryptocurrency and holding a wider variety of altcoins, according to a report.
#BTC #Wrtite2Earn #writing-is-my-earning
Institutional investors are heavily allocating their portfolios toward #Ether , followed closely by #Bitcoinā¬ , while retail investors are focusing more on the flagship cryptocurrency and holding a wider variety of altcoins, according to a report.
#BTC #Wrtite2Earn #writing-is-my-earning
Ethereum ETFs Await SEC Decision Amidst Growing Market Anticipation
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 worldās 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 Canadaās top-spot Ether ETF leader with assets worth $478.35 million as of last week. Meanwhile, Europeās 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.
#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 worldās 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 Canadaās top-spot Ether ETF leader with assets worth $478.35 million as of last week. Meanwhile, Europeās 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.
#Ether spot-exchange traded funds (ETFs) may increase institutional investment in Ethereum's token but are unlikely to create major price surges, according to some market observers.
While interest in ether bets has risen significantly, an ETF could create sustained growth rather than explosive growth in the ether market.
Ether (ETH) spot-exchange traded funds (ETFs) may increase institutional investment and power the worldās most-used blockchain, but is unlikely to create euphoric price surges, some market observers opined.
Interest in ether bets rose significantly after the approval of spot bitcoin (BTC) ETFs in January, which sparked hope among ether traders. Last week, Ethereumās native token crossed the $3,000 mark for the first time since April 2022, rising 15% in a week and beating bitcoinās relatively modest 8% rally in the same period.
Crypto circles on social application X expect such price action to continue after the expected issuance of ether ETFs later this year. The narrative is that these inflows could later find their way to the broaderĀ #Ethereum ecosystem.
However, some believe an ETF could create sustained, rather than explosive, growth in the ether market.
āEthereum ETFs wonāt cause bubbles,ā Jag Kooners, head of derivatives at Bitfinex, told CoinDesk in an email. āDespite concerns, institutional investment through an ETF could stabilize the Ethereum market, as seen with bitcoin and gold ETFs, fostering sustained growth.ā
āEthereumās Layer 2 solutions enhance scalability by enabling faster, cheaper transactions outside the main blockchain, fostering growth,ā he added. āUnlike bitcoinās security focus, Ethereumās L2 solutions prioritize rapid expansion, potentially attracting institutional investment and broadening application scope.ā
However, an etherĀ #ETF still faces regulatory headwinds. āEtherās classification as a security or commodity remains a key hurdle despite ongoing regulatory discussions,ā Kooners said.
Read full article on Cointacted.com -
https://bit.ly/42NVrha
While interest in ether bets has risen significantly, an ETF could create sustained growth rather than explosive growth in the ether market.
Ether (ETH) spot-exchange traded funds (ETFs) may increase institutional investment and power the worldās most-used blockchain, but is unlikely to create euphoric price surges, some market observers opined.
Interest in ether bets rose significantly after the approval of spot bitcoin (BTC) ETFs in January, which sparked hope among ether traders. Last week, Ethereumās native token crossed the $3,000 mark for the first time since April 2022, rising 15% in a week and beating bitcoinās relatively modest 8% rally in the same period.
Crypto circles on social application X expect such price action to continue after the expected issuance of ether ETFs later this year. The narrative is that these inflows could later find their way to the broaderĀ #Ethereum ecosystem.
However, some believe an ETF could create sustained, rather than explosive, growth in the ether market.
āEthereum ETFs wonāt cause bubbles,ā Jag Kooners, head of derivatives at Bitfinex, told CoinDesk in an email. āDespite concerns, institutional investment through an ETF could stabilize the Ethereum market, as seen with bitcoin and gold ETFs, fostering sustained growth.ā
āEthereumās Layer 2 solutions enhance scalability by enabling faster, cheaper transactions outside the main blockchain, fostering growth,ā he added. āUnlike bitcoinās security focus, Ethereumās L2 solutions prioritize rapid expansion, potentially attracting institutional investment and broadening application scope.ā
However, an etherĀ #ETF still faces regulatory headwinds. āEtherās classification as a security or commodity remains a key hurdle despite ongoing regulatory discussions,ā Kooners said.
Read full article on Cointacted.com -
https://bit.ly/42NVrha
Brazil's Banking Breakthrough: Itau Unibanco Launches Cryptocurrency Trading Amidst Market Shifts
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! š
Crypto market started the year with a surge that not many saw coming.
#Bitcoin & #Ether reached & breached some impressive critical support levels. Excitement has washed over the crypto community as traders & investors rush to make the most out of the bullish action #BearorBull
#Bitcoin & #Ether reached & breached some impressive critical support levels. Excitement has washed over the crypto community as traders & investors rush to make the most out of the bullish action #BearorBull
Ethereum Gas Fees: Challenges and Solutions in 2024
Navigating Ethereum Gas Fees: Challenges and Solutions in the Year 2024
Ethereum, a pioneeringĀ blockchainĀ platform, has long faced challenges with gas feesāthe transaction fees required to execute operations on the network. In 2024, the issues surroundingĀ EthereumĀ gas fees persist, impacting user experience and hindering broader adoption. This article delves into the challenges posed byĀ EthereumĀ gas fees and explores potential solutions that could shape the landscape of transaction costs on theĀ Ethereum network.
The Challenge of High Gas Fees:
Ethereumās 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 Ethereumās 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
Ethereum, a pioneeringĀ blockchainĀ platform, has long faced challenges with gas feesāthe transaction fees required to execute operations on the network. In 2024, the issues surroundingĀ EthereumĀ gas fees persist, impacting user experience and hindering broader adoption. This article delves into the challenges posed byĀ EthereumĀ gas fees and explores potential solutions that could shape the landscape of transaction costs on theĀ Ethereum network.
The Challenge of High Gas Fees:
Ethereumās 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 Ethereumās 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
$BTC Donāt sell your Bitcoin BlackRock will buy it all!!!š
Patience is key in making money in Crypto.š
Follow your plan.
Entry/Exit rules and so on.
Risk management is key in being profitable in long term.
#Memecoins #Write2earn #SHIB #BinanceLaunchpool #Ether
Patience is key in making money in Crypto.š
Follow your plan.
Entry/Exit rules and so on.
Risk management is key in being profitable in long term.
#Memecoins #Write2earn #SHIB #BinanceLaunchpool #Ether
Should Further Crypto ETF Approvals Be Halted Due to Investor Risks? š„¶
#Senators throw shade on Bitcoin ETFs, calling for a crypto crackdown!
They worry these investments expose everyday folks to wild west markets full of scams and manipulation. #Bitcoin gets a partial pass for being the "good guy" of crypto, but even it needs stricter rules.
Industry insiders are buzzing, saying this is a power move to pressure the SEC chief and slam the brakes on other crypto ETFs, like Ether. Looks like May's #Ether ETF launch is on thin ice!
#Binance
#crypto2024
#Senators throw shade on Bitcoin ETFs, calling for a crypto crackdown!
They worry these investments expose everyday folks to wild west markets full of scams and manipulation. #Bitcoin gets a partial pass for being the "good guy" of crypto, but even it needs stricter rules.
Industry insiders are buzzing, saying this is a power move to pressure the SEC chief and slam the brakes on other crypto ETFs, like Ether. Looks like May's #Ether ETF launch is on thin ice!
#Binance
#crypto2024
Ethereum ETF Launch Next Month Becomes āCertainly Possibleā with S-1 Submissions.
Excitement builds in the crypto space as the newlyĀ approvedĀ spot Ether (ETH) exchange-traded funds (ETFs) are possibly launching as early as mid-June. However, this development is still dependent on the promptness with which the approved clients amend their S-1 registration statements and the following feedback rounds theyāll receive from the Securities and Exchange Commission (SEC).Ā
Bloomberg ETF analyst James Seyffart suggests that the approvals of S-1 might be seen within a few weeks, but he also acknowledges that the process is supposed to take up to months. However, fellow analyst Eric Bachunas continues to be optimistic, expecting a mid-June launch. He states that the SECās feedback process required around two weeks to spot Bitcoin ETFs.Ā
#Ethereum #ETF #Ether
Excitement builds in the crypto space as the newlyĀ approvedĀ spot Ether (ETH) exchange-traded funds (ETFs) are possibly launching as early as mid-June. However, this development is still dependent on the promptness with which the approved clients amend their S-1 registration statements and the following feedback rounds theyāll receive from the Securities and Exchange Commission (SEC).Ā
Bloomberg ETF analyst James Seyffart suggests that the approvals of S-1 might be seen within a few weeks, but he also acknowledges that the process is supposed to take up to months. However, fellow analyst Eric Bachunas continues to be optimistic, expecting a mid-June launch. He states that the SECās feedback process required around two weeks to spot Bitcoin ETFs.Ā
#Ethereum #ETF #Ether
Ethereum Becomes Deflationary: Supply Reduced By 66k ETH In 2023
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 Ethereumās transition to proof-of-stake (PoS) consensus, known as the āMergeā 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 Ethereumās 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
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 Ethereumās transition to proof-of-stake (PoS) consensus, known as the āMergeā 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 Ethereumās 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 #Ether Prices Flatten During Week of Financial Turmoil
Despite banking unrest and increased regulatory scrutiny, bitcoin and ether were trading roughly where they started the week. #BinanceFeed #dyor #cryptonews
Despite banking unrest and increased regulatory scrutiny, bitcoin and ether were trading roughly where they started the week. #BinanceFeed #dyor #cryptonews
Breaking News: Bitcoin ATM Manufacturer General Bytes to Compensate Customers After Security Breach
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.
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.