In a dramatic turn of events, Ether short-sellers have capitalized on a significant decline in ETH, raking in a staggering $68 million on 50x leverage as the cryptocurrency fell by 11%. This volatility underscores the inherent risks and opportunities in digital asset trading.
Vitalik Buterin has emphasized the need for increased attention on Ether as part of Ethereum’s scaling strategy. His vision aims to elevate network capacity to 100,000 transactions per second using rollups, underscoring the importance of enhancing efficiency and performance in the blockchain ecosystem.
This week saw the value of Ether dip to its lowest point since June of 2020, leading one research firm to reverse its previous outlook and advise investors to favor Bitcoin over Ether.
SIM swap fraud has increased dramatically as Ether holders become the latest target. Thieves are using the technique to siphon off unsuspecting users’ Ethereum assets, leaving many victims unable to recover their funds.
Bitcoin stumbled Tuesday, slipping below $28,000 for the first time in a week as traders rushed away from the asset, driven by a sharp rise in US Treasury yields and lukewarm interest in Ether-backed ETFs.
Valkyrie Securities announced Tuesday they are suspending the purchase of Ether futures contracts until the SEC’s approval of their Ether ETF application is officially effective. The broker cited regulatory uncertainty as the primary reason for backing off Ether trading.
ETH has seen a steep rise in price today, likely due to increased institutional investment. This surge has been seen in the wider cryptocurrency market, promising gains for investors and raising concerns about volatility.
Bitwise Asset Management has announced the official launch date for its Ether Futures Exchange-Traded Fund (ETF) products: Tuesday, May 11th. The Ethereum-based ETFs promise to offer investors exposure to Ether via a regulated financial product.
Ethereum’s value is plummeting due to low network revenue, with the cryptocurrency inflating at its greatest rate since late 2018. Dropping to a 9-month low, Ethereum is facing a decline in its monetary policy, leaving the network vulnerable to further hardship.
