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Ethereum

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games. Ether is the native token for the Ethereum ecosystem.

The Ethereum blockchain is preparing a significant upgrade, called the Ethereum Merge, tentatively scheduled for Sept. 13-16, 2022.

The Merge reflects a shift in Ethereum’s protocol in which the blockchain will move from a “proof-of-work” to “proof-of-stake” system.

Miners validate transactions by solving complex calculations before a new block can be added to the chain. This is the mechanism that Bitcoin ($BTC) runs on.

Miners are replaced by “validators,” who stake the ETH they own to validate new blocks on the chain. Avalanche ($AVAX) and Solana ($SOL) are proof-of-stake.

The Ethereum Foundation reports that moving to a proof-of-stake model will reduce the blockchain’s energy consumption by more than 99%.

Ether ($ETH) is Ethereum’s native crypto asset, while Ethereum is the underlying blockchain. No disruptions to ETH are expected following the Merge.

Unlike Bitcoin, the founder of Ethereum is publicly known. Vitalik Buterin published Ethereum’s introductory paper in 2013 and launched the project in 2015.

The Ethereum blockchain was built to serve as a single source of truth backed by a public transaction database and to function as a platform for a variety of decentralized applications ranging from financial services to games.

The Ethereum Foundation

*This content is for educational purposes and is not investment advice.

Gala investor DWF Labs also said that it had purchased 28 million GALA tokens "to alleviate market selling pressures."

Gala Games Hacker Returns $23M in ETH; Founder Proposes 'Buy and Burn'

Ethereum creator Vitalik Buterin believes the network isn't "unified"—and that a new guild should be formed to resolve this issue.

Ethereum Isn't 'Unified' Enough Amid Layer-2 Expansion, Says Vitalik Buterin

The Grayscale Ethereum Trust (ETHE) discount narrowed to 10% on Tuesday, becoming the narrowest its been in more than two months.

Grayscale Ethereum Trust discount narrows to 10% as odds of spot ETH ETF approvals are raised

Bitcoin

Ethereum ETFs could get the green light this week, says Standard Chartered—and both Bitcoin and Ethereum will set new high prices as a result.

Bitcoin, Ethereum Will Hit All-Time Highs Amid ETH ETF Approval: Standard Chartered

Economist and crypto trader Alex Krüger recently shared his base case scenario for the crypto market, offering incisive predictions about Bitcoin (CRYPTO: BTC) and Ethereum's (CRYPTO: ETH) future price trajectories. What Happened: Krüger's base case scenario is "Bitcoin much higher into year-end, with Ethereum underperforming due to a possible ETF rejection.

Spot Ethereum ETF Approval 'Not Even Remotely Priced In,' Warns Trader Who Sees 'Ethereum Overperforming From US Elections Onwards'

Spot Ethereum ETF filers have removed mentions of staking funds from their registration statements. One analyst says they "bent the knee" to the SEC.

Ethereum ETF Applicants Ditch Staking Language in 'Temporary Concession' to SEC: Analyst

The Graph

Uniswap

Amid ethereum's value increase, the decentralized finance (defi) ecosystem has significantly benefited from ether's double-digit growth. Leading defi tokens by market capitalization rose by 14.8% over the past day, and the total value locked (TVL) in defi exceeded $100 billion in the last 24 hours.

Top Defi Tokens See Double-Digit Gains as Ethereum Soars

Volatility in the crypto market has caused over $280 million in short liquidations over the past 24 hours.

Over $280 million in short liquidations as ether rallies on renewed ETF optimism

The U.S. Securities and Exchange Commission (SEC) is requesting revisions to applications for Ether exchange-traded funds (ETFs), sparking optimism within the cryptocurrency industry, which had previously braced for rejection. What Happened: “The SEC must decide whether to approve applications by the end of this week,” a Reuters report states.

SEC Seeks Changes To Ether ETF Filings, Raising Approval Hopes

According to Reuters, sources revealed that the U.S. Securities and Exchange Commission (SEC) has requested Nasdaq and Cboe to “fine-tune” their spot ethereum exchange-traded fund proposals. Ethereum experienced a 22% increase over the past day, coasting along at $3,785 per unit on Monday at 9:30 a.m. Eastern Time.

Report: Nasdaq and Cboe Asked to Refine Ethereum ETF Proposals

Last week's Senate vote overturning the SEC's SAB 121 may be behind a potential emerging alliance between Wall Street, crypto and Washington.

Do potential spot Ethereum ETF approvals signal a shift in US crypto policy?

Ethereum (CRYPTO: ETH) on Monday saw its largest single-day price and market capitalization gain, as spot Ethereum ETF odds sharply increased to 75%. What Happened: Pseudonymous crypto trader Hsaka quipped that Ethereum's largest one-day market capitalization gain of $70.7 billion created the “Banana Zone candle.

Ethereum Prints 'Banana Zone Candle' With Largest One-Day Market Cap Gain At $71B Following Potential ETF Approval

Bloomberg's ETF analysts have explained that the U.S. Securities and Exchange Commission (SEC) could start the approval process for spot ethereum exchange-traded funds (ETFs) tomorrow. They noted that the securities regulator has requested revised Form 19b-4s from issuers to be submitted by Tuesday morning, indicating “likely approval” as soon as Wednesday.

Analysts: SEC Could Begin Approval Process for Spot Ethereum ETFs Tomorrow

Bitcoin Bitcoin and ethereum have shot higher, climbing as meme stock traders identify a surprising new target.

‘Opportune Moment'—Bitcoin And Ethereum Suddenly Braced For A $4.2 Trillion ETF Price Bombshell

The U.S. securities regulator on Monday asked Nasdaq and CBOE to fine-tune their applications to list spot ether exchange-traded-funds (ETFs), signaling the agency may be poised to approve the filings, three people familiar with the process told Reuters.

US SEC asks exchanges to fine-tune ether ETF filings in positive sign for approval, say sources

US asset management giant Fidelity has filed an amended S-1 application with the United States Securities and Exchange Commission (SEC) for its spot Ether exchange-traded fund (ETF). What Happened: This development is closely watched by industry experts and investors alike, as the approval of such an ETF could mark a milestone in the mainstream adoption of Ethereum (CRYPTO: ETH), the second-largest cryptocurrency by market capitalization.

Fidelity Files Amended S-1 for Spot Ether ETF With SEC

Amid growing speculation about the potential approval of spot ethereum exchange-traded funds (ETFs), Fidelity Investments has revised its ether ETF filing, omitting all staking features previously included in the proposal. This update follows reports that ETF issuers were allegedly instructed to revise their 19b-4 filings with the U.S. Securities and Exchange Commission (SEC).

Fidelity Omits Staking From Spot Ethereum ETF Proposal

The latest price moves in bitcoin (BTC) and crypto markets in context for May 21, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Hits $71K as Ether ETF Hopes Build

Annualized yields on ether staking are nearly 3% as of Tuesday, data from popular staking service Lido shows.

Fidelity Drops Staking Plans in Updated Ether ETF Filing

Standard Chartered expects ether ETFs to be approved this week, leading to inflows of up to $45 billion in the first 12 months.

Standard Chartered expects ether ETF approval this week, reiterates year-end target of $8,000

The open interest in Ethereum (CRYPTO: ETH) futures has reached an all-time high of $15.1 billion, reflecting a surge in investor interest. This spike is attributed to the growing optimism surrounding the potential approval of spot exchange-traded funds in the U.S. What Happened: The notional open interest, which represents the dollar value locked in active ether futures contracts, has risen by 29.79% in the last 24 hours, as per data from Coinglass.

Ethereum Rises 20%, Futures Open Interest Hits Record $15B As ETF Approval Odds Jump To 75%

Fidelity filed an amended S-1 registration statement with the SEC for its prospective Ethereum ETF ahead of upcoming deadlines.

Fidelity files amended S-1 registration statement, removing staking rewards from prospective Ethereum ETF

These filings are also expected to be handed in by 10 AM this morning, according to Bloomberg analyst Eric Balchunas.

SEC only wanted ‘relatively light' updates to 19b-4 forms for Ethereum ETFs: Source

Ether was set for its largest two-day gain in nearly two years and bitcoin approached a record high on Tuesday on speculation about the outcome of applications for U.S. spot exchange-traded funds that track the world's second-biggest cryptocurrency.

Cryptocurrencies gain as investors turn optimistic on ether ETFs

Open interest for ether futures on centralized exchanges has reached a fresh high — indicating increased trading activity.

News for Ethereum Crypto (ETH)