Ethereum Financial News

Doge Uprising is an upcoming crypto presale that aims to challenge the 'centralized power' figures that usually abuse privacy. It aims to do so by combining cryptos, NFTs, and storytelling. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Leading DEX Uniswap has fallen -6% to rock-bottom levels following the introduction of a new 0.15% fee on crypto swaps involving Ethereum, USDC and others.

Toncoin and Tron were trading in the green, while Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. The global cryptocurrency market cap surged 0.76% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.1% at $28,586 as of 12:39 p.m., while Ethereum was below the $1,600 level. «Bitcoin has maintained a trading position above the $28,300 mark in the last 24 hours. This price movement is driven by growing excitement among investors about the potential approval of a Bitcoin Spot ETF in the United States,» said Edul Patel, CEO of Mudrex. «BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it.

The Ethereum liquid staking derivatives finance (LSDFi) ecosystem has seen a surge in growth this year as Ether (ETH) holders chose to stake rather than liquidate. 

The market capitalization of tokenized real-world assets (RWAs) could balloon to as much as $10 trillion by the end of the decade in a bullish scenario, argued digital asset management company 21.co in a recently released report.

Scroll, a new contender in the zero-knowledge Ethereum Virtual Machine (zkEVM) space that works to scale the blockchain, has confirmed the launch of its mainnet.

Scroll, an Ethereum layer 2 (L2), has announced the launch of its zkEVM mainnet, which allows developers to have increased speeds, latency, and lower fees to build decentralized applications (dApps).

Bitcoin (BTC) is trading flat in the mid-$28,000s after hitting its highest level since early August on Monday near-$30,000 on fake rumors that the SEC had approved BlackRock’s spot Bitcoin ETF application.

Yield Protocol Cessation

Uniswap's V3 contracts have found a new home on the Moonbeam Network, a leading destination for multi-chain applications on Polkadot. With over $3 billion in Total Value Locked (TVL), Uniswap is a giant in the decentralized exchange (DEX) sphere. This integration, a first of its kind, extends Uniswap's availability to users on the Polkadot network, opening up new avenues through an Oku front-end and Wormhole cross-chain messages.

On October 2, 2023, NYSE Arca and Grayscale Investments took a significant step in the regulated crypto investment landscape by filing Form 19b-4 with the SEC. The aim is to convert Grayscale Ethereum Trust (OTCQX: ETHE) into a spot Ethereum ETF. «As we file to convert ETHE to an ETF, the natural next step in the product’s evolution, we recognize this as an important moment to bring Ethereum even further into the U.S. regulatory perimeter,» said Michael Sonnenshein, CEO of Grayscale Investments.

In a fiery discourse on Twitter between 1st and 2nd October 2023, Anatoly Yakovenko, co-founder of Solana Labs, robustly defended the accessibility and inclusivity of the Solana network, engaging in a series of tweets that delved into the philosophies underpinning various blockchain platforms.

Developers of Ethereum layer-2 nonfungible tokens (NFT) scaling solution Immutable (IMX) will delay the vesting of 125 million IMX in token rewards, worth $67 million at the time of publication, to July 2024.

Fantom Foundation, developers of the Fantom network, have reportedly been hacked for over $6.7 million worth of cryptocurrency. 

Cryptocurrency products recorded inflows for the third consecutive week signaling improved sentiment from institutional investors after a shaky start to the year. 

Blockchain sleuths have zeroed in on a recent transaction from a wallet associated with Ethereum co-founder Vitalik Buterin, where he transferred $14.9 million worth of USD Coin (USDC) to the cryptocurrency exchange Gemini.

Bitcoin ETF. Bitcoin was up 3.8% at $27,909, while Ethereum was above the $1,550 level. Meanwhile, the global cryptocurrency market cap surged 2.6% to around $1.08 trillion in the last 24 hours. «BTC and ETH both showed positive gains over the weekend, driven by the news that the SEC won't appeal the court decision regarding Grayscale's spot Bitcoin ETF application. This news has sparked the interest of investors, as it raises the likelihood of a BTC spot ETF approval by the end of the first quarter of 2024,» said CoinDCX Research Team. Meanwhile, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said, «In a positive development that underlines the crypto adoption, Ferrari — a well-renowned car manufacturer will now accept crypto as a payment method for its luxury cars in the U.S. To execute this, the company has partnered with BitPay wherein payments will be accepted in BTC, ETH, and USDC. As part of its expansion plans, this payment method will soon be available in Europe as well.»

The Ethereum network’s validator queue is empty for the first time since the Shanghai update in May, signaling that investor demand for Ether staking is plummeting. 

After two successive weeks of gains, the S&P 500 Index (SPX) started the week on a positive note. This suggests a risk-on sentiment which is a bullish sign. The volatility is likely to pick up as 11% of the S&P 500 companies are expected to report results this week.

Manta, a blockchain network focusing on zero-knowledge (ZK) applications, will migrate its software from OP Stack to Polygon CDK, according to an October 16 announcement. This means that Manta will not be integrated into the upcoming Optimism Superchain and will instead become part of the Polygon ecosystem.