ProShares, a prominent issuer of exchange-traded funds (ETFs), has filed a proposal to list and trade spot Ethereum (ETH) ETF shares on the New York Stock Exchange (NYSE).
According to the filing with the United States Securities Exchange Commission (SEC), the ProShares Ethereum ETF will use Coinbase Custody Trust Company for ETH custody.
The asset manager noted that the firm and its associated parties will not engage in activities related to Ethereum staking.
Crypto.news reported that potential spot Ethereum ETF issuers have revised their 19b-4 and S-1 filings to exclude staking components. These revisions aim to address the SEC’s position on staking for spot Ethereum ETFs.
However, the approval of these ETFs without staking capabilities may discourage investors who seek additional yield from staking rewards.
Typically, individuals who buy, hold, and stake ETH can earn staking rewards, resulting in extra yield. Excluding the staking feature means spot Ethereum ETFs will not offer these additional benefits to investors.
The SEC has 45 days, extendable to 90 days, from the notice publication date to respond to the filing. Since ProShares’ spot ETH ETF has been filed on June 6, 2024, approval could be expected by late July 2024.
This proposal follows ProShares’ recent introduction of two Ethereum-linked ETFs: ProShares Ultra Ether ETF (ETHT) and ProShares UltraShort Ether ETF (ETHD), targeting 2x and -2x daily ETH returns, respectively.
Both ETFs are set to be listed on the NYSE on Friday, June 7.
ProShares is renowned for launching the first Bitcoin-linked ETF in 2021, the Bitcoin Strategy ETF (BITO), which invests in futures contracts. However, ProShares has not pursued a spot Bitcoin (BTC) ETF, unlike some major asset management firms like Blackrock, Grayscale, and Fidelity.
It is crucial to note that the spot Ethereum ETFs require approval for both filings to be officially traded in the market. The approval in May was solely for the 19b-4.
Analysts anticipate that the final approval for these ETFs might occur in July 2024.
These products are expected to provide investors with new levels of flexibility and strategy, enabling more precise navigation of the volatile crypto market.
Meanwhile, the Bitcoin ETF has attracted .4 billion after noting consecutive inflows for the last 15 days, as reported by Senior Bloomberg ETF analyst Eric Balchunas in a recent X post.
Wormhole’s governance token, W, has experienced a significant surge of 12% following the introduction of a new staking feature.
At the time of writing, the W token was exchanging hands at .7113, up 12% in the last 24 hours. In the same timeframe, the crypto asset also witnessed a trading volume of 5 million, per data from CoinMarketCap. Its market cap stood at .25 billion.
W 24-hour price chart | Source: CoinMarketCap
Wormhole (W) is a cross-chain messaging protocol that facilitates the transfer of assets and data across different blockchain networks.
In a June 6 X post, the Wormhole team revealed the launch of the “Stake for Governance” feature for W token holders. The new functionality allows W token holders to stake their tokens to participate in governance decisions. This helps in promoting a more decentralized and community-driven management structure.
Stake For Governance is now live for W token holders!
This is your opportunity to participate in the governance and impact the future direction of the Wormhole DAO and platform.
Dan Reecer, co-founder of Wormhole Foundation, also took to X on the same day to provide additional details on the significance of this launch. He explained that of the staking feature marks the first step in the W staking roadmap, introducing the industry’s first multichain governance system, MultiGov.
W token holders can now delegate their tokens either to themselves or to a chosen delegate, enabling a seamless multichain experience for voting and delegating in any DAO.
Reecer also noted that MultiGov, developed in collaboration with Tally and ScopeLift, allows users to delegate and vote from any connected Layer 2 network and, soon, Solana.
Tally is a governance platform that helps DAOs manage their proposals and voting. On the other hand, ScopeLift is a development team that focuses on building tools for decentralized governance.
Unlike other protocols, such as Uniswap, which hosts its governance on the Ethereum mainnet, MultiGov offers a more convenient and cost-effective solution for users across different chains. The innovation aims to provide a truly multichain experience and chain abstraction.
For those looking to stake for governance, users can head to the Tally Governance Portal. There, they can transfer their W tokens from Solana to a supported EVM chain, such as Ethereum, Arbitrum, Optimism, or Base.
Once transferred, users can choose a delegate and stake their W tokens for governance.
Additionally, Wormhole has implemented a daily transfer limit of 100 million W tokens from Solana (SOL) to EVM chains to ensure security.
The next steps for Wormhole governance include completing and auditing the Solana integration into MultiGov. After that, the acceptance of proposals and the beginning of voting will follow.
Wormhole’s efforts to expand the reach of the W token are evident in its recent listing on Robinhood, a major cryptocurrency exchange. The W token is now available to trade with European customers on the platform. Additionally, investment firm Multicoin Capital revealed in an April 3 blog post that it had co-led a 5 million funding round in Wormhole last year.
According to analysts at Invezz, the Wormhole token has surged from .513 on May 14 to over .718, breaking past key resistance at .70.
Despite trading above the 50-period and 25-period moving averages, it has formed a rising broadening wedge, a bearish pattern. This puts the token at risk of a reversal down to .60, the analysts noted.
Meanwhile, a trader known as Degen_Maximum sees the potential for the W token to double in value in the short term, adding an optimistic twist to its recent performance.
💸 #Wormhole ( $W ): Potential 2x growth on the horizon💸
I’ve been scouting out promising projects recently listed on #Binance, and Wormhole (W) is currently standing out as a project with immense potential for strong growth in the near future
Unstoppable Domains and Blockchain.com have announced a partnership to launch and promote a DNS-enabled web3 domain under the “.blockchain” extension.
According to a statement shared with crypto.news, the two companies have joined forces to register the .blockchain web3 domain with the Internet Corporation for Assigned Names and Numbers (ICANN), the global authority overseeing IP addresses and domain names.
ICANN is set to implement new generic top-level domains (gTLDs) by 2026.
The application process begins with the launch of ICANN’s Applicant’s Guidebook next year. As such, the firms have a year to prepare for the new domain’s application.
“The agreement between Blockchain.com and Unstoppable Domains is focused on preparing for this upcoming ICANN application,” a spokesperson told crypto.news.
Upon approval by ICANN, the .blockchain domain would join existing top-level domains (TLD) like .com and .net, providing a dedicated space for blockchain-related businesses.
“Once accredited by ICANN, the .blockchain gTLD will serve as both a web2 domain and a web3 domain […] It will integrate web3 and traditional web2 browsing capabilities, enhance accessibility, and allow users to utilize “.blockchain” domains seamlessly across both ecosystems. For Web2 capabilities, this would include email, website resolution, etc.,” the spokesperson added.
Founded in 2018, Unstoppable Domains has been leveraging blockchain technology to provide users with control over their digital identities. It plans to offer specialized domain names for individuals, brands, and companies, expanding the use of blockchain-based domains.
Unstoppable Domains’ collaboration with Blockchain.com aims to bridge the gap between web2 and web3. similar to Ethereum Name Service’s recent integration of browser-compatible “.box” web domains.
The .box domain is recognized as an ICANN-approved top-level domain and is the first on-chain gTLD included in the ENS manager app alongside .eth. Domains hosted on .box are searchable and indexable on major browsers such as Google Chrome and Safari, making them compatible with popular email services as well.
The rise of web3 domain names
Web3 domains are new web extensions, similar to .com or .in, launched as smart contracts on public blockchains such as Ethereum, Polygon, and Solana.
Extensions such as .sol or .crypto can replace lengthy wallet addresses for cryptocurrency transactions. They can also be used for website hosting and single sign-on methods for various web3 applications.
The appeal of web3 domain names lies in their simplicity. Users can send funds to an easy-to-remember wallet address like “jack.eth” instead of a 42-character crypto wallet address, making it simpler for consumers to interact with a named address rather than a complex string of characters.
“.blockchain” and other web3 domains take the form of unique, non-fungible tokens (NFT). They’re hosted on a public, immutable blockchain, and so can’t be altered or deleted; they also provide users full ownership of their data and can serve as a user’s digital identity,” the spokesperson added.
Currently, users are purchasing popular domain names through these platforms, anticipating that corporations will soon register their respective brands.
Healthcare tech developer Semler Scientific has announced an additional purchase of 247 BTC for million in cash.
Santa Clara-based healthcare tech firm Semler Scientific has acquired an additional 247 BTC for million in cash as part of its ongoing strategy to hedge against inflation risks.
As per a press release on Jun. 7, the acquisition brings Semler Scientific’s total Bitcoin reserves to 828 BTC, purchased at an aggregate cost of million. Commenting on the purchase, Semler Scientific chief executive Doug Murphy-Chutorian highlighted the firm’s commitment to Bitcoin as a “compelling investment and a reliable store of value.”
“We will continue to pursue our strategy of purchasing Bitcoins with cash.”
Doug Murphy-Chutorian
The latest transaction follows a substantial purchase just a week prior, where Semler Scientific acquired 581 BTC for million, indicating an average price of approximately ,850 per coin. Semler Scientific chairman Eric Semler emphasized Bitcoin’s potential as a scarce, finite asset that serves as a reasonable hedge against inflation and a safe haven amid global instability.
“We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of Bitcoin.”
Eric Semler
With this purchase, Semler Scientific now ranks 20th among public companies holding Bitcoin on their balance sheets, according to BitcoinTreasuries.NET. The firm surpasses crypto mining company Argo Blockchain, which holds 11 BTC, but falls behind Chinese software company Meitu, which holds 940.9 BTC.
Want to know what are the best coins to invest for beginners? Read our guide to reputable cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and more.
Dipping your toes into cryptocurrency can feel overwhelming, especially with so many options out there. However, experts suggest that starting with well-established and reputable digital assets can make the process smoother.
To help you get started, we have compiled a beginner-friendly guide highlighting five of the best cryptocurrencies for beginners to invest in, considering their stability, market value, and potential for growth.
Table of Contents
Bitcoin (BTC)
Bitcoin is the oldest and most valuable cryptocurrency on the market, making it a solid choice for beginners. As of June 4, 2024, Bitcoin’s market capitalization exceeded .35 trillion, a figure representing over half of the entire crypto market’s value.
First-time crypto investors should consider Bitcoin as an investment option because of the following reasons:
Widespread availability: Bitcoin is available on nearly all crypto exchanges and many conventional brokerage platforms, making it a near-perfect gateway cryptocurrency for beginners.
Growing acceptance: More businesses around the world are accepting BTC for transactions, and it’s even recognized as legal tender in countries like El Salvador and the Central African Republic (CAR).
Strong growth potential: Recent developments, such as the launch of spot Bitcoin exchange-traded funds (ETFs), have driven Bitcoin prices higher, even leading to it hitting a new all-time high price of ,750 on March 14. Some experts have even predicted that the price of Bitcoin could reach over a million dollars by 2030.
Bitcoin’s established presence and continuous growth make it an excellent starting point for new crypto investors. While the price of one Bitcoin might be a bit high for the average investor, it is possible to buy smaller portions of it for much lower prices.
Ethereum (ETH)
Although having a much more modest market capitalization compared to Bitcoin, Ethereum is a powerhouse among altcoins and a similarly great option for crypto beginners.
Technically known as Ether, this cryptocurrency is the second largest by market cap and has a significant role in both the decentralized finance (defi) and decentralized applications (dapps) ecosystems.
For those wondering which crypto is best for beginners, here are a few reasons why Ethereum should be a strong contender for your first crypto investment:
Defi dominance: As stated previously, Ethereum is the backbone for many decentralized finance protocols and applications, which drives a high demand for ETH. These applications rely on Ethereum’s blockchain to operate, making ETH a crucial part of the dapp and defi spaces.
High total value locked (TVL): As of the time of this writing, Ethereum holds the largest portion of the total value locked (TVL) in various networks, indicating its widespread use and trust. TVL refers to the cumulative value of all the crypto assets deposited in various defi protocols. Per DappRadar, Ethereum’s current TVL stands at .01 billion, a figure that is several times more than those of its five biggest competitors combined. A high TVL often means that more people are using a platform, which should bode well for the value of ETH going forward.
Smart contracts: Ethereum also supports smart contracts, which are self-executing codes with terms written directly into them. This feature allows for a broad range of decentralized applications and has made Ethereum one of the most popular dapp-hosting blockchains.
Continuous development: The Ethereum network is continually being improved, with the recent upgrade to Ethereum 2.0 aiming to enhance scalability and security.
It means Ethereum should be able to keep up with technological progress in the blockchain industry, which should keep the value of ETH at a steady level.
With the above in mind, settling on ETH for a first crypto investment should not be a daunting choice to make.
BNB Coin
BNB Coin, the native cryptocurrency of the Binance ecosystem, is another choice when buying crypto for beginners.
It may not have the same level of reputation and name recognition as the first two coins on our list, but it has managed to quietly establish itself as an important part of the broader crypto market.
Here’s why you should consider BNB among the best cryptocurrency for beginners in 2024:
Stable performance: Stability is key for any investment, and despite the crypto market’s volatility, BNB has shown consistent growth over the years. It was initially priced at .15 during its 2017 ICO and has seen significant appreciation since then. At the time of writing, BNB was priced at more than 5 and had a market cap of .3 billion, making it the third-largest non-stablecoin cryptocurrency in the market.
Controlled supply: With a maximum supply of 200 million and a current circulating supply of around 156 million, the value of BNB should benefit from this capped supply because it will create scarcity, which, over time, could help drive up the coin’s value.
Utility token: BNB offers transaction fee discounts on the Binance Exchange and is used across multiple blockchains within the Binance ecosystem. It facilitates trading on the Binance exchange, allowing users who hold BNB to enjoy discounted trading fees. Additionally, it can be used as collateral for margin trading, allowing users to leverage their positions and potentially enhance their returns.
Beyond trading, BNB serves as the primary currency for Binance’s decentralized exchange, Binance DEX. Users can trade cryptocurrencies in a non-custodial manner, maintaining complete control over their assets.
BNB is also integrated into Binance’s decentralized lending platform, Binance Lending, where users can lend and borrow cryptocurrencies while earning interest. Furthermore, BNB can be used to pay transaction fees on the Binance Smart Chain (BSC), a high-performance blockchain developed by Binance.
All these use cases in an ecosystem as dynamic and expansive as Binance’s should help safeguard BNB’s value in the long term, arguably making it one of the best crypto to buy now for beginners.
Solana (SOL)
Another coin that could potentially be among the best crypto investments for beginners is Solana (SOL). Its price performance over the last year has generally been positive, with the coin’s value increasing by more than 660% in that time, per data from CoinGecko.
Solana one-year price chart | Source: CoinGecko
The Solana blockchain also boasts several features that should ensure SOL’s growing reputation in the crypto market and establish it further as one of the largest coins by capitalization:
Speed and cost efficiency: Solana uses a unique proof-of-history (PoH) mechanism, enabling it to process up to 50,000 transactions per second at a fraction of the cost of Ethereum.
Scalability: Solana’s high throughput and low fees also make it an attractive platform for dapp developers and users alike.
Growing ecosystem: Solana has a thriving ecosystem of dapps, NFT platforms, and Web3 games, further enhancing its appeal. It is currently home to some of the most popular meme coins on the market, including Bonk (BONK) and Dogwifhat (WIF).
Environmental impact: Solana’s PoH and proof-of-stake (PoS) models are less energy-intensive than traditional proof-of-work (PoW) systems used by the likes of Bitcoin.
In the current world, where people are big on environmental protection, cryptocurrencies with reduced ecological footprints may be viewed more favorably, and it would make sense for first-time crypto investors to buy such coins.
Ripple (XRP)
Anyone looking for the best crypto to buy as a beginner should not overlook Ripple (XRP). The coin has been around since 2012 when Ripple created it to facilitate fast and cost-effective cross-border transactions.
It has steadily risen to become one of the most prominent digital assets in the crypto sector, with a current market valuation of billion.
Priced at .5252, XRP is currently the most affordable crypto for beginners on our list. The current price is a whopping 84.6% discount on XRP’s all-time high price of .40 and could serve to nudge prospective investors towards it.
XRP One-year price chart | Source: CoinGecko
Other factors that make XRP one of the best cryptos for beginners include:
Fast transactions: XRP can handle up to 1,500 transactions per second, making it one of the fastest cryptocurrencies available.
Low cost: XRP transactions are also cost-effective and do not require high energy consumption, unlike Bitcoin.
Financial partnerships: Ripple has partnerships with major financial institutions like MoneyGram and American Express, a factor that has boosted its credibility and usage.
Affordability: Trading at a lower price point, XRP is accessible to beginners with limited capital. This allows for potentially higher returns with a lower initial investment.
Final thoughts
When starting your journey into cryptocurrency investment, it’s essential to choose assets that offer stability, utility, and potential for growth.
While not an exhaustive list, Bitcoin, Ethereum, BNB Coin, Solana, and XRP each provide unique advantages that can make them ideal choices for beginners.
However, always remember to do your own research and consider your risk tolerance before investing in any cryptocurrency. Despite their relative stability, the coins mentioned above are also prone to periods of volatility, which could wipe out your investment.
FAQs
What are the best places to buy crypto for beginners?
There are several platforms where beginners can buy cryptocurrencies, such as Coinbase, Binance, and Kraken. These platforms are user-friendly and offer a variety of cryptocurrencies. However, you must remember that investing in crypto carries risk. Always do your own research and consider seeking advice from a financial advisor.
What is the best way to invest in cryptocurrency for beginners?
The best way to invest in cryptocurrency for beginners is often buying and holding a diversified portfolio of cryptocurrencies for the long term, regardless of short-term price fluctuations. However, it’s important to only invest what you can afford to lose and to do thorough research or seek professional advice before investing. Remember, the value of investments can go down as well as up.
Analysts at H.C. Wainright are bullish on Cipher’s investment strategy, projecting upside potential to .
Cipher Mining Inc. (CIFR) has recently announced an upgrade to its mining fleet in Odessa, leading to an upward revision to its 2024 and 2025 hash rate targets following a revised contract with Bitmain. Citing this upgrade, H.C. Wainright analysts have raised their price target from .50 to , implying a significant potential move higher from the current trading price of .15
The updated contract speeds up the delivery timelines and includes Bitmain’s newest S21 Pro miners, which will replace the T21s that were originally requested. Consequently, Cipher’s self-mining hash rate target for 2024 has been increased by 45% to 13.5 EH/s.
At the time of writing, CIFR is trading at .15 a share.
CIFR’s optimistic future
This upgrade will phase out old equipment and see the new miners deployed at CIFR’s Odessa facility. The new miners are expected to significantly improve the company’s efficiency and cost-effectiveness, positioning CIFR as a leader in the industry.
For 2025, CIFR has further raised its outlook by 40% to 35 EH/s, anticipating full power capacity at its Black Pearl site. Once fully operational, the fleet-wide efficiency is projected to reach 15 J/TH.
CIFR’s stock responded positively to the update, closing 5% higher and outperforming the Nasdaq. Supported by low power costs, the company aims for a 15% efficiency lead over competitors by the end of 2024.
H.C. Wainright analysts reiterate a Buy rating, reflecting confidence in CIFR’s strategic direction and execution.
At a panel discussion at Money20/20, Ripple’s Cassie Craddock, Domin Network’s Ioana Surpateanu, and Kraken’s Kaushik Sthankiya explored the evolution of blockchain technology and its security implications of the emerging market.
All panelists agreed on the importance of merging traditional finance (TradFi) with blockchain technology to understand its wider impact and the future of blockchain.
Surpateanu noted, “Blockchain helps optimize and attract consumers in creative industries. The coexistence of TradFi and blockchain is already a reality and will continue to evolve.”
Throughout Money20/20, speakers have emphasized the importance of interoperability, and Surpateanu echoed this sentiment by stating that interoperability prevents fragmentation in blockchains and fosters innovation.
The panelists cited the need for centralized exchanges as a way to secure platforms for retail and institutional customers to engage with crypto.
A busy year for blockchain technology
Reflecting on the past year, the panel delved into the substantial growth of the crypto market, especially in the blockchain market.
“In 2017, while joining Citigroup, the mantra was ‘blockchain, not crypto.’ Since then, the focus has shifted back to infrastructure,” Surpateanu said. “We now talk about a crypto market cap exceeding .6 trillion USD.”
Surpateanu is focused on developing a technology that validates and authenticates data across different blockchain layers, allowing users to exchange digital items for physical ones — like tokenization. Many fashion and gaming companies are showing great interest in this technology as it helps them gather valuable insights and strengthen their user communities.
Sthankiya further highlighted Kraken’s growth and the evolving landscape of crypto.
“Crypto has matured significantly over the past twelve years. We now operate in 190 countries, offering over 200 tokens for trading. The safety, security, and regulatory compliance in the industry have vastly improved,” he said.
Blockchain in payments and banking
The conversation then turned to the practical applications of blockchain in payments. Craddock shared how cross-border payments have become faster and more efficient.
“It’s quicker to fly money to Australia than to send an international wire. Blockchain technology addresses this inefficiency,” Craddock stated.
Sthankiya highlighted Kraken’s role in facilitating large-scale transactions. He explained that institutional customers have a growing demand for the instant movement of substantial amounts of money worldwide, and the safety and security provided by centralized exchanges are paramount in meeting this demand.
Surpateanu also provided a critical viewpoint on banks’ integration with blockchain.
“Banks could do more to integrate into this ecosystem. While there are talented crypto-savvy teams within banks, regulatory concerns and a compliance-driven mentality often hold them back,” she said.
Monica Long, President of Ripple, joined Arjun Kharpal, Senior Correspondent for CNBC, at Money 20/20 to discuss the infrastructure needed for crypto implementation.
Their conversation centered around the theme of “Building Infrastructure Fundamentals,” which focused on traditional financial institutions’ perception and adoption of digital assets.
Long noted a significant shift in U.S. legislation and traditional finance institutions, citing the Bitcoin ETF approval in the U.S. as a crucial moment for crypto adoption. “BlackRock’s involvement was a big moment,” Long said. Many financial institutions have been slowly adopting crypto tech, acknowledging it as a contemporary financial framework, Long said.
Clearer regulations
Despite the recent Ethereum (ETH) and Bitcoin (BTC) ETF approvals, Long emphasized the need for more regulatory clarity. When talking about the real-world uses of digital assets, Long emphasized the advantages of institutional decentralized finance (DeFi) in basic banking transactions.
“Basic financial services like deposits, payments, lending, credit, and capital markets can benefit from a more global, open, and efficient system,” Long said, comparing blockchain’s potential impact on finance to the internet’s impact on communication.
Long mentioned the European Union’s Markets in Crypto-Assets (MiCA) regulation as a prime example of a clear regulatory framework and hinted at the United States’s slow yet steadily improving relationship with crypto.
“Entering the U.S. market through the SEC doesn’t sound like a door that’s going to have a friendly, friendly entryway for us,” Long said.
Long expressed cautious optimism about regulatory clarity in the U.S., noting that stablecoin legislation could be a positive step.
Private vs. public blockchain
Long also discussed the debate between private versus public blockchains and pointed out that private blockchains are still used for tech like central bank digital currencies (CBDCs), but there have been noteworthy advancements in public ledgers.
For instance, Société Générale issued the first euro stablecoin on a public ledger. Ripple is also launching a regulated US dollar stablecoin.
Fraud
Long emphasized the difference between fraudulent behavior and the technology itself when discussing the repercussions of scandals like FTX.
“To clarify, as an industry, there’s fraud, which is what happened in the case of FTX finance. There are blatant violations of compliance, violations,” Long said. “But it’s not that the technology is bad or that all players paint us all with a broad brush of fraudsters and criminals.”
FTX’s collapse and fraud do not reflect the whole crypto industry — positive blockchain applications do remain, Long stressed.
“There’s a hangover from those events, but it’s important to separate fraud from the legitimate applications of the technology,” she said.
Blockchain infrastructure designer Alchemy has launched a development kit rollup-centric innovation in the crypto ecosystem.
Alchemy’s introduction of Alchemy Rollups represents a notable step forward in the crypto ecosystem. It will offer developers a comprehensive toolkit for rollup-centric development and aim to streamline the process of developing, optimizing, launching, and growing layer-2 blockchains with a focus on scale, speed, and cost-efficiency.
According to product lead Monica Garde, Alchemy’s offering affords developers the same “battle-tested infrastructure” that powers some of the most trusted networks in decentralized finance (DeFi). “Running a node is not that difficult; the hard part is doing it reliably, and at scale,” said Garde.
Rollups, praised by Ethereum co-founder Vitalik Buterin as crucial for scaling DeFi and improving dapp efficiency, are designed to alleviate congestion on layer-1 networks. Alchemy Rollups will initially integrate with Arbitrum Orbit and Optimism Stack framewors.
Developers can either leverage zero-knowledge (ZK) proofs or optimistic systems when building rollup-centric chains.
“We plan to explore ZK frameworks later in the year”, Garde told crypto.news over email.
Why Alchemy Rollups?
While Ethereum is the long-standing defi hub with over .9 billion in total value locked, building on Ether’s mainnet can be expensive. L2 ecosystems offer a cheaper option without abandoning security and industry trust but layer-2 networks still struggle with optimizing shared resources.
Ethereum TVL | Source: DefiLlama
Garde noted that providing innovators with the tools to build and launch their own chains unlocks monetization corridors for teams, ensuring creators have the financial runway to keep building. It also allows developers to customize decentralized solutions for product-market fit, and capture value.
Today, we’re thrilled to introduce Rollups.
Scaling solutions like rollups are essential to Ethereum’s success in the long run, and Alchemy provides the most-reliable, comprehensive Rollup platform for developers building at any scale.
