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.
One year after Ethereum’s first major merge, the network’s circulating supply of Ether (ETH) has decreased by almost 300,000 units, with a total of around 111.1 million ETH now circulating.
ETH prices are beginning to experience increasing levels of volatility, with 3 key metrics signaling a move to erratic movements. Analysts urge caution when trading this asset in the upcoming weeks.