Lưu trữ cho từ khóa: Ethereum

Altcoin

Institutional interest wanes as Ethereum futures and options volumes drop: CCData

Để lại phản hồi

Ethereum derivatives volumes on the CME have plunged sharply following the launch of spot Ethereum ETFs, reflecting reduced institutional interest.

Trading volumes for Ethereum derivatives on the CME exchange experienced a significant decline in August as Ethereum futures volume plummeted 28.7% to $14.8 billion, while options volume dropped 37.0% to $567 million, marking the lowest levels since December 2023.

Data provided by CCData shows that the downturn comes just months after the introduction of spot Ethereum exchange-traded funds in late May, signaling “lower-than-expected institutional interest in the asset.”

CME institutional volume | Source: CCData

Overall, CME’s derivatives trading volume plunged by 1.16% to $129 billion. While Bitcoin (BTC) futures saw a 3.74% increase to $104 billion, Bitcoin options trading fell by 13.4% to $2.42 billion. The drop in Ethereum (ETH) trading volumes contrasts with the robust performance of Bitcoin, which has surged over 45% this year compared to Ethereum’s more modest 20% rise.

As crypto.news reported earlier, crypto analyst Noelle Acheson attributed the reduced institutional interest in Ethereum ETFs to a preference for Bitcoin among investors seeking diversification. Acheson likened the current ETF landscape to the metals market, where gold ETFs command over $100 billion in assets, while silver ETFs hold less than $20 billion. Nonetheless, the analyst anticipates future growth in Ethereum ETF inflows, as institutional investors’ interest may increase over time.

The weaker performance of Ethereum is partly due to intensifying competition from competitors like Solana (SOL) and TRON (TRX), which are also attracting attention. Seasonality effects in August may also have contributed to the decreased trading activity, with expectations that this trend could extend into September.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Switzerland’s fourth-largest bank ZKB launches crypto services

Để lại phản hồi

Zurich Cantonal Bank, Switzerland’s fourth-largest bank, has launched crypto trading and custody services, expanding its financial offerings.

Zurich Cantonal Bank, Switzerland‘s fourth-largest bank, has officially entered the crypto market, offering its clients the ability to trade and store Bitcoin (BTC) and Ethereum (ETH).

In a Sept. 4 press release, the bank said the new offering is integrated into its existing digital platforms, including ZKB eBanking and ZKB Mobile Banking. The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades, the press release reads.

Alexandra Scriba, head of institutional clients & multinationals at ZKB, says customers and third-party banks will not need their own wallet and do not have to worry about storing their private keys, as the bank will handle both processes.

ZKB’s entry into the crypto space is not just limited to its own clients as the bank is also offering a business-to-business solution that enables other Swiss banks to provide crypto trading and custody services. Per the press release, Thurgauer Kantonalbank, a Swiss cantonal bank, has become the first partner bank to adopt this service.

The latest move is continuation of ZKB’s latest efforts to foray into the crypto market as in recent years, the bank explored blockchain technology extensively, including its participation in the issuance of the world’s first digital bond on the SIX Digital Exchange in 2021 and its role as joint lead manager in a 2023 Swiss National Bank pilot project for issuing digital bonds with central bank digital currency.

ZKB’s initiative comes amid a broader expansion of crypto services among Swiss financial institutions. In late June, crypto-friendly bank Sygnum, based in Zurich, extended its business-to-business services to over 20 entities, including PostFinance, ZugerKB, and LuzernerKB, allowing a significant portion of the Swiss population to access crypto markets.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Bitcoin, Ethereum whales accumulate despite market-wide selloff

Để lại phản hồi

On-chain data shows increased accumulation from Bitcoin and Ethereum whales despite market-wide bearish momentum.

According to data provided by IntoTheBlock, the number of large Bitcoin (BTC) and Ethereum (ETH) transactions, worth at least $100,000, started to increase on Sept. 1 after a set of constant declines in the last week of August. 

BTC whale transactions – Sept. 4 | Source: IntoTheBlock

The number of large BTC transactions surged from 13,100 on Sept. 1 to 18,000 on Sept. 3. Ethereum witnessed a similar momentum. Whale transactions consisting of at least $100,000 worth of ETH rose from 2,150 on Aug. 31 to 4,530 on Sept. 3, per ITB data.

ETH whale transactions – Sept. 4 | Source: IntoTheBlock

Data shows that whales have also started moving the largest stablecoin by market cap, Tether (USDT). According to data from ITB, the number of large USDT transactions increased from 2,260 on Aug. 31 to over 5,000 on Sept. 3.

USDT whale transactions – Sept. 4 | Source: IntoTheBlock

On Sept. 3, the two largest cryptocurrencies witnessed exchange net outflows of 7,290 BTC and 71,370 ETH, worth over $585 million combined. This movement shows increased accumulation while the broader crypto market is wandering in uncertainty.

On the other hand, USDT registered roughly $66 million in exchange net inflows on the same day. Usually, rising stablecoin inflows into centralized exchanges could hint at increased Bitcoin and altcoin purchases.

Per a crypto.news report, over $1 billion worth of BTC left the exchanges between Aug. 26 and Sept. 2. 

Today, both Bitcoin and Ethereum faced a downward momentum. BTC fell by 3.5% and is trading at $56,700 at the time of writing. ETH slipped 4% and is currently trading at $2,400.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

21co rolls out Wrapped Bitcoin on Ethereum blockchain

Để lại phản hồi

21.co is expanding the lineup of wrapped tokens, bringing its Wrapped Bitcoin to the Ethereum blockchain.

21.co, the parent company of crypto exchange-traded products provider 21Shares, has announced the launch of its Wrapped Bitcoin (21BTC) on the Ethereum blockchain.

In a Sept. 3 press release, the company said the latest product is launched in partnership with Flow Traders, one of the world’s largest market makers. Unlike traditional “lock-and-mint” methods, 21.co emphasizes that it stores the underlying assets in cold storage without the need for a bridge.

Eliezer Ndinga, head of strategy and business development, digital assets at 21.co, says the launch of 21BTC on Ethereum allows customers to “have peace of mind as they explore decentralized applications and new opportunities on the Ethereum blockchain – and 21.co is utilizing our knowledge and economies of scale managing crypto ETPs to make this a reality.”

Wrapped tokens are digital assets that represent a cryptocurrency from one blockchain on another blockchain. They are typically backed one-to-one by the original asset and allow users to utilize the value of the original cryptocurrency on different blockchain networks, increasing liquidity and enabling cross-chain transactions.

For example, Wrapped Bitcoin allows (BTC) holders to use the cryptocurrency within the Ethereum ecosystem for decentralized finance activities.

In addition to Wrapped Bitcoin, 21.co also boasts a set of other wrapped tokens, including for Binance Coin (BNB), (XRP), Avalanche (AVAX), and others. Its wrapped tokens are also built on Onyx, 21.co’s proprietary digital asset lifecycle platform, which has facilitated the creation and redemption of over $6.7 billion in crypto-backed products.

The latest addition comes just a few months after in May, 21.co launched 21BTC on Solana, offering users native access to Bitcoin on the Solana network.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

VISTA token surges following launch of pump.fun alternative Ethervista

Để lại phản hồi

VISTA, the native token of Ethervista, a Pump.fun-like platform on Ethereum, has seen significant gains since its launch on Sep. 1.

At the time of writing, VISTA was experiencing significant volatility, with an intraday high of $24.70 and a low of $13.71. The crypto asset’s daily trading volume hovered around $53 million while its market cap stood at $15.2 million per data from DEX Screener.

Within a day after launch, the token hit an all-time high price of $28.80, but it has since lost over 50% of that value. VISTA’s post-launch rally was supported by a surge in whale activity. 

Notably, an investor who controls the first and third largest amounts of Vista bought 79,070 Vista tokens for 10.5 WETH on Sep. 1. In the last two days, the investor sold 42,100 VISTA for 170.39 WETH, making a profit of more than 16X their initial investment.

According to Lookonchain, a whale named ‘frenulum.eth’ has earned 274 ETH (roughly $696.7K) by trading VISTA in just two days, achieving a 134x return. The trader initially invested 2.05 ETH (around $5.1K) to purchase 52,822 VISTA tokens and later sold them for 276.5 ETH (around $701.8K).

VISTA is a deflationary token with a capped supply of 1 million. Ethervista also has an automatic token buyback and burning mechanism designed to reduce the overall supply, potentially increasing the token’s value over time. The project has already burned over 2.17% of its total token supply.

According to s4mmy.moca, one of the key features of Ethervista is a 5-day liquidity lock for creators, which safeguards against rug pulls that often happen within 2-4 days of a project’s launch. Pump.fun has often been plagued by scammers launching memecoins that are abandoned just hours after they go live.

VISTA is gaining attention after SunPump, a new memecoin platform on the Tron network, outperformed its predecessor Pump.fun by launching more tokens and generating higher revenues. Per data from DeFi Llama, the total value locked in the SunPump ecosystem has reached $1.46 million, while its annualized fee income has increased to $49.77 million.

However, the interest around memecoins in general has waned, with some of the most popular memecoins seeing sharp drops in value over the last year.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

TRON revenue surged 46%, closing the gap with Ethereum

Để lại phản hồi

TRON network’s revenue saw an impressive rise in August while Ethereum recorded a notable decrease.

According to data shared by Lookonchain, TRON’s (TRX) monthly revenue increased by 46.5% — rising from $41.9 million in July to $61.4 million in August. The network is second to Ethereum (ETH) with $62.6 million in revenue in August.

Data shows that Ethereum’s revenue plunged 33% from July’s $94 million mark. 

Per a crypto.news report, TRON’s daily revenue reached an all-time high of $5.33 million on Aug. 22 after surpassing Ethereum. This happened after the TRON-based meme coin platform SunPump, Pump.fun’s competitor, gained increased attention from investors and traders.

Data from Lookonchain shows that Solana (SOL) secured the third spot with a monthly revenue of $25.6 million. Notably, Solana’s income was almost cut in half in August — falling from $49.8 million.

Bitcoin (BTC) also recorded a 16.8% decrease in its monthly revenue — dropping from $24.9 million in July to $20.7 million in August. 

Per Lookonchain’s data, Binance Smart Chain’s monthly revenue increased by 6.6% — growing from $10.5 million in July to $11.2 million last month. 

According to data from crypto.news’ price page, TRX is the only token from the list to register a price surge over the past 30 days, marking a 22% rise. BTC and ETH declined by 4.4% and 16% in the past month.

TRX 1D chart – Sept. 3 | Source: crypto.news

Binance Coin (BNB) and SOL witnessed 2% and 6.3% drops over the past month.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Over $1b worth of Bitcoin left exchanges in 7 days

Để lại phản hồi

On-chain data shows increased Bitcoin outflows from cryptocurrency exchanges, showing potential accumulation.

According to data provided by IntoTheBlock, centralized crypto exchanges saw a net outflow of over 16,500 Bitcoin (BTC) — worth over $1.01 billion — in the past seven days. Around 2,200 BTC left these platforms in the past 24 hours alone.

BTC price and exchange net flows – Sept. 3 | Source: IntoTheBlock

ITB data shows that most of the net outflows happened on Aug. 27.

On Aug. 27, Binance, the largest cryptocurrency exchange by trading volume, witnessed a net outflow of 48,000 BTC, per a crypto.news report. The platform saw an outflow of over $3.7 billion worth of Bitcoin and Ethereum (ETH) in 30 days.

The increased net outflows show that investors have been accumulating the asset despite bearish expectations for September.

Per data from ITB, large Bitcoin wallets, holding at least 0.1% of the circulating supply, saw a net outflow of 1,123 BTC — worth over $66.2 million — over the past two days.

A crypto.news report on Aug. 29 shows that the Bitcoin reserves on crypto exchanges dropped to 2.38 million BTC, hitting 2024 lows. This movement shows that the accumulation phase might have started.

When investors move assets to their self-custodial wallets, it’s often a sign of bullish expectations. While September has usually been bearish for the BTC price, data shows that October’s monthly gains over the past 11 years have been impressive.

Bitcoin had a bearish start to this month but regained 2.1% over the past 24 hours. BTC is trading at $58,900 with a market cap of $1.16 trillion at the time of writing. The asset’s daily trading volume is currently hovering at the $25 billion mark.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Bybit unveils spot trading pairs with TRY in Turkish expansion push

Để lại phản hồi

Bybit launches spot TRY trading pairs, offering Turkish users direct access to cryptocurrencies without the need for conversion steps.

Bybit is intensifying its expansion in Turkey by launching Turkish Lira trading pairs on its spot market, allowing users to trade cryptocurrencies without conversion steps, the exchange announced in a Sept. 2 press release.

Kutluhan Akçın, Bybit Türkiye’s country manager, emphasized the significance of the launch, saying the exchange’s latest move reflects its “dedication to catering to local needs and providing a convenient platform for Turkish users to participate in the crypto market.” From now on, users on Bybit can trade Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) directly against TRY.

Bybit joins rush of exchanges heading to Turkey

The latest development comes as international cryptocurrency exchanges are increasingly seeking to establish a foothold in Turkey following the country’s finalization of its regulatory framework for the crypto sector. According to the Capital Markets Board of Turkey, over 50 crypto exchanges, including Binance, Bitfinex, and OKX, have applied to register in the country, though this does not yet grant them authorization to operate.

The regulatory push in Turkey has been marked by the recent approval of a crypto bill imposing strict penalties, including fines of up to $182,600 and prison sentences of up to five years for non-compliance. Exchanges must now be licensed by the Capital Markets Board to operate legally.

The launch in Turkey also follows Bybit’s decision to exit the French market due to regulatory challenges. In early August, the exchange announced it would restrict French users’ accounts, prohibiting the opening of new positions and limiting them to a “Close-Only” mode until the withdrawal deadline by mid-August.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Widespread negative crypto sentiment ‘evident’ across regions, CoinShares says

Để lại phản hồi

Digital asset investment products experienced multi-million outflows last week, driven by reduced expectations of a U.S. interest rate cut following stronger economic data.

The crypto market is seemingly gripped by widespread negative sentiment “across various providers and regions,” as digital asset investment products saw outflows totaling $305 million last week, according to CoinShares.

In a Sept. 2 blog post, CoinShares head of research James Butterfill said the outflows appear to have been driven by stronger-than-expected U.S. economic data, which has reduced the likelihood of a 50-basis point interest rate cut by the Federal Reserve.

“We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the FED gets closer to a pivot.”

CoinShares head of research James Butterfill

The U.S. led the outflows, with $318 million withdrawn, while Germany and Sweden also saw outflows of $7.3 million and $4.3 million, respectively, data shows. In contrast, Switzerland and Canada recorded minor inflows of $5.5 million and $13 million.

Weekly crypto asset flows | Source: CoinShares

Bitcoin (BTC) bore the brunt of the outflows, shedding nearly $320 million. However, short Bitcoin investment products saw their largest inflows since March, attracting $4.4 million for the second consecutive week. Ethereum (ETH) also faced outflows of $5.7 million, with trading volumes stagnating at just 15% of the levels seen during the U.S. ETF launch week.

Solana (SOL) defied the overall trend, attracting $7.6 million in inflows. Butterfill noted that blockchain equities also experienced positive momentum, with $11 million flowing in, particularly into investment products focused on Bitcoin miners.

As crypto.news reported earlier, Bitcoin dropped by almost 10% in August, while the Nasdaq 100 index rose by over 2% and gold peaked at an all-time high of $2,530. The performance occurred despite the U.S. dollar index plunging to $100.1, down by over 6% from its highest point this year. Analysts at French blockchain firm Kaiko suggested that the likely reason for the sell-off was that investors are concerned about the falling liquidity in the Bitcoin market and rising worries that governments will start selling their holdings.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News