Schiff expressed his concerns about gold and silver, stating that they are not immune to market sell-offs.
The ongoing crypto correction led by Ethereum triggered nearly $300 million in liquidations, mostly involving long traders.
10X Research identified Ethereum as a weak link in the crypto market, noting that its fundamentals, including user growth and revenue, have been stagnant or declining.
Ethereum is also following the same trajectory that Bitcoin did after the approval of the spot BTC ETFs earlier this year.
The recent Ethereum (ETH) paper focused on a few areas that could help builders win blocks and make money.
With its ETHW initiative, Bitwise expressed excitement aimed at supporting the ongoing efforts of those dedicated to improving Ethereum’s security, scalability, and usability.
Analysts estimate that the demand for Ethereum ETFs could reach between $5 to $10 billion in the first few months of trading.
After last week’s $45 million in inflows, Ethereum’s year-to-date inflows stand at a staggering $103 million. Ethereum ETF can prove to be an additional catalyst going ahead.
Giant whales are ready to dump over $120 million worth of ETH to profit from the ETH ETF launch speculation.
Unlike other altcoins, market sentiment around Ethereum remains on a high ahead of the looming ETF launch.
On July 16, 2024, US Judge Kevin Castel signed a document that reduced Virgil Griffith’s prison sentence from 63 months to 56 months.
Deribit has over $2 billion in open interest in its perpetual and futures markets within the past 24 hours. Since 2020, the exchange has accounted for 70% of the $35.7 billion of the total $51.1 billion Bitcoin options trading volume in April 2024.
The broad crypto industry is expecting the green light for spot Ethereum ETF trading. It was earlier speculated that the Commission would give approval for the offering to go live on July 15 but it was not exactly so.
Kaiko said that the arrival of spot Ethereum ETf could further improve the liquidity conditions for ETH. Additionally, it could also help in reducing ETH price volatility over time.
The supply of Ethereum (ETH) on crypto exchanges is gradually declining as the staked Ether increases, thus escalating the supply crisis.