Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

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Altcoins today: CROSS, ECHO rally amid trading competition; SharpLink becomes top corporate ETH holder

  • CROSS and ECHO soar over 50% amid broad market declines.
  • Ongoing Binance Alpha trading competition keeps the tokens afloat.
  • SharpLink becomes the largest Ethereum holder among corporate entities with over 280K ETH assets.

Digital currencies displayed weakness on Tuesday as the global cryptocurrency market cap plunged 3% in the past day to $3.69 trillion.

While altcoins eye rapid bounce-backs after the corrections, Cross, ECHO, and Ethereum dominated today’s trends for different reasons.

CROSS and ECHO have rallied up to 60%, fueled by the ongoing trading competition of Binance Alpha.

On the other hand, SharpLink has become the top corporate Ethereum holder after the latest accumulation.

Binance Alpha ignites altcoin momentum

The leading exchange officially started its BNB Smart Chain Trading Competition via Binance Alpha.

The tournament allows users to share exclusive rewards by trading various coins.

The competition will run from 10 July to 21 July, featuring MemeCore (M), Infinity Ground (AIN), Echo Protocol (ECHO), MEET48 (IDOL), and CROSS.

The altcoins reflect excitement with bullish price actions, displaying upside momentum despite broad market weakness.

CROSS and ECHO have stolen the show with remarkable rallies in the past 24 hours.

The duo witnessed a surge in trade volume and user engagement amid Binance’s trading campaign.

The CROSS Trading Pool features 10 million tokens for the top 11,000 participants, whereas ECHO offers 10 million ECHO tokens to the top 5,000 traders.

ECHO hovers at $0.02380 after gaining more than 55% in the past 24 hours.

Its daily trading volume has increased by 240%, signaling massive interest in the token.

Also, CROSS gained 58% to trade at $0.2116, with a 110% uptick in 24-hour trading volume.

Cross and Echo Price chart

SharpLink: the new Ethereum corporate whale

While traders explored fast-moving tokens, another key development emerged behind the scenes.

The gaming firm has become the largest corporate Ethereum investor, with 280,706 Ether tokens.

That follows the latest acquisition, which saw SharpLink purchase 74,656 ETH, worth approximately $213 million, between 7 and 13 July.

SharpLink Ethereum Holdings

Moreover, the company’s strategy demonstrates confidence in the second-largest cryptocurrency by value.

Notably, it has staked 99.7% of its Ethereum stash, generating passive incentives.

SharpLink has earned around 415 Ether through staking since early June.

SharpLink pivoted into crypto in May after confirming the adoption of ETH as a treasury reserve asset.

Ethereum crossed $3,000 on Monday as Bitcoin rallied to new all-time highs of $123,000.

It trades at $3,050 at this publication, up 20% in the past week.

Analysts anticipated more uptrends toward the $3,500 resistance.

Some believe ETH will rally to $5,000 this summer.

Furthermore, proponents predict an imminent altcoin season as the current market structure mirrors 2021.

Crypto enthusiast Merlijn the Trader anticipates more than 10x from altcoins in the impending bull run.

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Bitcoin and Ethereum ETFs record $3.6B inflows this week

  • Bitcoin ETFs saw $2.7 billion in weekly inflows, pushing BTC to an all-time high near $119,000.
  • Ethereum ETFs added $908 million, helping ETH climb 17% to a multi-month peak above $3,000.
  • BlackRock’s IBIT and ETHA dominated fund inflows, reflecting strong institutional demand for crypto exposure.

Investor appetite for cryptocurrency exposure through exchange-traded funds (ETFs) reached a new high last week, with Bitcoin ETFs alone drawing in more than $2.7 billion in net inflows over five trading days.

The surge in capital marked one of the strongest weekly performances for these financial vehicles, reflecting growing institutional demand on Wall Street.

According to data from FarSide Investors, the standout activity occurred on Thursday and Friday.

Thursday saw the second-largest daily inflow in the 18-month history of US-listed Bitcoin ETFs, totaling $1.18 billion.

The inflows were spread across major funds: BlackRock’s IBIT received $448.5 million, Fidelity’s FBTC took in $324.3 million, and ARK Invest’s ARKB attracted $268.7 million.

On Friday, the momentum continued with another $1.03 billion in inflows.

BlackRock’s IBIT led decisively, drawing $953.5 million—far ahead of ARKB, which was second with just $23.5 million.

Earlier in the week, inflows remained positive each day: $216.5 million on Monday, $80.1 million on Tuesday, and $215.7 million on Wednesday.

The total net inflow for the week amounted to $2.72 billion, further highlighting the accelerating pace of institutional crypto adoption.

Notably, the funds have seen only one day of net outflows (July 1) since June 9.

Ethereum ETFs see record weekly gains

Ethereum-based ETFs also recorded significant inflows last week, benefiting from increasing investor confidence ahead of their one-year anniversary.

The funds brought in $908.1 million in net inflows for the week, according to FarSide data.

Thursday was a standout day, setting a record for Ethereum ETFs with $383.1 million in inflows.

BlackRock’s ETHA led the way, accounting for over $300 million of that figure.

On Friday, ETHA continued to dominate, capturing $137.1 million of the total $204.9 million inflow.

Wednesday added $211.3 million, while Monday and Tuesday contributed $62.1 million and $46.7 million, respectively.

This sustained inflow into Ethereum funds helped propel ETH’s price higher.

Starting the week around $2,500, Ethereum climbed past $3,000 on Friday. Although it has since pulled back slightly below $3,000, the asset remains up more than 17% for the week.

Crypto prices react to institutional momentum

The robust ETF inflows had a direct impact on the underlying asset prices.

Bitcoin surged by more than $10,000 during the week, reaching an all-time high of nearly $119,000 on Friday.

Ethereum similarly saw its best performance in months, fueled by increased capital inflows and renewed optimism among investors.

In total, both Bitcoin and Ethereum ETFs drew more than $3.6 billion in capital last week, underscoring the expanding role of crypto assets in mainstream investment portfolios.

With consistent inflows and new highs in asset prices, institutional interest in cryptocurrencies appears far from waning.

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Ethereum races past $3,000 for first time in 5 months amid ETF surge and treasury boost

  • Ethereum (ETH) surged past $3,000 for the first time in five months, gaining nearly 9% in 24 hours.
  • BlackRock’s ETHA ETF posted record daily inflows of $300.9 million, leading a $383.1 million day for U.S. spot ETH ETFs.
  • SharpLink Gaming purchased 10,000 ETH from the Ethereum Foundation, boosting its treasury to over $550 million.

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has reclaimed the $3,000 mark for the first time in five months, buoyed by bullish momentum across the broader crypto market.

The token is currently trading at $3,055, up nearly 8% in the past 24 hours.

ETH last traded above $3,000 on February 2, before undergoing a sharp correction that saw it fall to as low as $1,387 in April.

That decline followed heightened market uncertainty surrounding former President Donald Trump’s “Liberation Day” tariff announcement.

While Ethereum’s recovery has been notable, it still trails Bitcoin’s (BTC) performance and remains about 38% below its all-time high of $4,878 set in November 2021.

In contrast, BTC recently reached new record highs, helping to lift the entire cryptocurrency sector.

Record inflows into Ethereum ETFs

A major driver behind ETH’s recent surge is renewed institutional interest, particularly via spot Ethereum exchange-traded funds (ETFs).

BlackRock’s iShares Ethereum ETF (ETHA) saw a record-breaking $300.9 million in net daily inflows on Thursday as ETH neared the $3,000 threshold.

That marked the fund’s strongest day since its launch and pushed its five-day inflow total to $623.4 million.

The previous record stood at $292.7 million on December 5, 2024.

Overall, US-listed spot Ethereum ETFs brought in a combined $383.1 million in net inflows on Thursday.

Fidelity’s FETH added $37.3 million, followed by Grayscale’s ETH and ETHE with $20.7 million and $18.9 million, respectively.

Bitwise’s ETHW and VanEck’s ETHV recorded $3.2 million and $2.1 million in inflows.

“We have a new daily inflow record for iShares Ethereum ETF… $300+mil,” noted Nate Geraci, president of NovaDius Wealth Management, on X (formerly Twitter).

Bloomberg Senior ETF analyst Eric Balchunas also highlighted that ETHA had logged record daily trading volumes of over $800 million on both Wednesday and Thursday, forecasting “chunky” inflow data, which the latest figures confirmed.

SharpLink deepens ETH treasury with foundation purchase

Further supporting Ethereum’s bullish backdrop, Nasdaq-listed SharpLink Gaming (SBET) disclosed a significant over-the-counter ETH acquisition from the Ethereum Foundation.

The Minneapolis-based firm purchased 10,000 ETH for $25.7 million, executed at a price of $2,572.37 per coin on July 10.

This brings SharpLink’s ETH holdings to approximately 215,634 coins, valued at around $558 million at current market prices.

The transaction positions SharpLink as the second-largest corporate holder of ether, with the company signaling ongoing support for the Ethereum ecosystem.

“SharpLink is acquiring, staking, and restaking ETH as responsible industry stewards,” said Chairman and Ethereum co-founder Joseph Lubin, emphasizing the firm’s efforts to remove supply from circulation and strengthen the network’s decentralization.

SharpLink began shifting its balance sheet toward ether in early June, financing the initiative through at-the-market share sales.

The company raised up to $425 million in a private placement led by Consensys, Lubin’s crypto infrastructure firm.

While the Ethereum Foundation has previously sold ETH from its treasury, direct transactions with publicly listed companies are rare, making this deal a notable development in institutional crypto adoption.

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Ethereum ascends: Institutional pivot and dormant whale moves signal a new era

  • Bit Digital shifts treasury from Bitcoin (BTC) to over 100K ETH.
  • Dormant Ethereum wallets move millions after 10 years.
  • ETH/BTC bull flag hints at a 35% breakout by August.

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalisation, is stepping into what many believe could be a transformative phase, marked by growing institutional alignment and renewed on-chain activity from long-dormant whales.

Momentum around the asset has intensified in recent weeks, with fresh technical setups, corporate accumulation, and protocol-level proposals all converging to highlight Ethereum’s evolving position as not just a programmable blockchain but also a premier financial infrastructure layer.

Dormant giants awaken

Blockchain analysts have spotted multiple early Ethereum wallets springing to life, with some holding “genesis” coins untouched since 2015.

In one case, a wallet that received 900 ETH when the asset traded below $0.50 moved its holdings after nearly a decade, triggering curiosity across the crypto space.

On the same day, another wallet, also tied to Ethereum’s genesis phase, transferred 240 ETH after remaining inactive for exactly 3,630 days.

While the holders are not technically whales by Ethereum’s classification, such movements often reflect either confidence shifts or strategic repositioning, particularly amid market optimism.

The renewed activity echoes a broader pattern across the digital asset space, where legacy Bitcoin wallets have also been reactivating, in some cases after more than 14 years of dormancy.

These sudden moves by early adopters signal that legacy stakeholders are once again paying close attention to Ethereum’s trajectory, especially as it gains ground on Bitcoin in structural and financial terms.

Institutions turn to Ethereum

Leading this shift is Bit Digital Inc., a Nasdaq-listed company that has effectively gone all-in on Ethereum, making headlines with its aggressive treasury transformation.

According to a publication by the company, it sold 280 BTC and raised $172 million through a public equity offering to accumulate 100,603 ETH, positioning itself as one of the largest corporate Ethereum holders globally.

This dramatic pivot comes alongside the winding down of Bit Digital’s Bitcoin mining operations and the rollout of its Ethereum staking infrastructure, which is already among the most advanced in the institutional market.

CEO Sam Tabar has made it clear that the firm sees Ethereum not just as an asset, but as a foundation for financial reinvention, citing its programmability, staking yield, and growing adoption as core drivers of the shift.

Beyond Bit Digital, other firms like Sharplink Gaming and BitMine are also joining the fray, with BitMine announcing a $250 million ETH acquisition initiative to deepen its exposure.

According to CF Benchmarks, this trend is only expected to accelerate, with institutional ETH and SOL holdings potentially increasing tenfold over the next year.

Ethereum network stability in focus

Vitalik Buterin, Ethereum’s co-founder, has proposed a new gas cap mechanism to help manage network stress during periods of high demand or spam attacks.

The proposed cap would introduce a ceiling on total gas used per block, aiming to protect network performance by prioritising essential transactions over low-priority activity.

If implemented, this strategy could offer greater consistency during congestion while reducing the impact of fee spikes on smaller or new users.

Such upgrades reflect Ethereum’s maturing ecosystem, especially as developers prepare the protocol for future scaling and broader institutional use.

Ethereum price outlook: technical analysis signals a bullish momentum

At press time, Ethereum is trading at around $2,563, up more than 72% over the past three months, with a market capitalisation exceeding $309 billion.

While ETH remains 47% below its all-time high of $4,878, recent developments, including ETF filings, whale reactivations, and corporate realignment, suggest that investor confidence is building once again.

On the technical front, ETH/BTC is showing signs of a major breakout, forming what analysts identify as a bullish flag pattern on the three-day chart.

Should Ethereum break out from its current range, the ETH/BTC pair could climb by as much as 35%, reaching the 0.031 BTC level by August, a potential signal of altseason.

This comes as the total altcoin market cap tests long-term support, with previous bounces from this trendline often preceding explosive rallies across non-Bitcoin assets.

The return of capital rotation toward Ethereum and other Layer 1 platforms underscores a clear shift in trader sentiment, especially as confidence grows around Ethereum’s upcoming technical upgrades.

If the current bullish momentum holds, this may well mark the beginning of Ethereum’s most important ascent yet.

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Katana mainnet launch nears as pre-deposit closes with $200M in active deposits

  • Katana mainnet launch is around the corner after over $200 million in productive DeFi deposits.
  • Katana’s VaultBridge and CoL mechanisms will power yield and liquidity efficiency.
  • Katana supports cross-chain assets like SOL, XRP, and SUI on-chain.

Katana, a new DeFi-centric layer-2 blockchain built on Ethereum, has people on tentacles amid its highly anticipated mainnet launch after drawing more than $200 million in active deposits and setting a new benchmark for liquidity-focused networks this year.

The launch, which comes just weeks after Katana’s public reveal, is causing excitement across the crypto community due to its impressive capital inflow and unique design, positioning it as one of the most significant L2 rollouts of 2025.

According to the Katana Foundation, the network is engineered to deliver scalable, high-yield decentralised finance applications while tackling long-standing liquidity inefficiencies in the Ethereum ecosystem.

A launch powered by liquidity

Katana has accumulated over $200 million in productive total value locked, a term the protocol uses to describe capital actively deployed in yield-generating strategies.

This approach marks a significant departure from traditional DeFi metrics, which often include idle capital when reporting TVL, thereby overestimating real usage.

The protocol’s growth was accelerated by strong pre-deposit activity, which climbed from $75 million in early June to over $232 million by launch day, highlighting a surge in user interest and institutional curiosity.

At its core, Katana promises to transform how capital flows across DeFi by integrating a variety of yield sources directly into its architecture rather than relying solely on token incentives.

DeFi tools built for efficiency

Katana’s infrastructure includes two standout mechanisms: VaultBridge and Chain-owned Liquidity (COL), both of which are designed to convert idle assets into revenue-generating positions.

VaultBridge allows bridged assets like ETH, USDC, USDT, and wBTC to be deployed into off-chain yield-bearing strategies on Ethereum, before routing the returns back into Katana’s native DeFi pools.

This setup ensures that user assets do not remain static but are constantly cycled through revenue-generating avenues, thereby increasing capital efficiency across the platform.

Meanwhile, Katana’s Chain-owned Liquidity model recycles 100% of its sequencer fees into its own liquidity reserves, creating a self-sustaining liquidity loop.

These innovations aim to reduce dependence on unsustainable token emissions while ensuring users benefit from deeper liquidity and better pricing execution.

Partnerships and cross-chain access

In addition to its Ethereum-native features, Katana’s cross-chain capabilities allow users to interact with assets outside of the EVM universe, including SOL, XRP, and SUI, which are tradable on-chain through its launch partner, Universal.

Universal has also integrated with Coinbase Prime to offer institutional-grade custody and minting services, eliminating the need for pre-seeded liquidity on decentralised exchanges.

This move signals Katana’s ambition to become a cross-chain liquidity hub while still leveraging Ethereum’s robust security and composability.

The platform also integrates with major DeFi players like decentralised exchange Sushi and lending protocol Morpho, extending its utility across the broader DeFi ecosystem.

Incentives aligned with growth

To attract early adopters, Katana has launched a series of incentives, including randomised NFT loot boxes known as “Krates” and a distribution of 70 million KAT tokens to early liquidity providers.

Additionally, roughly 15% of Katana’s total KAT token supply has been set aside for an airdrop to Polygon token stakers, including holders of liquid staking derivatives.

These incentives aim to reward early engagement while tying Katana’s success to the broader modular Ethereum landscape, particularly through its relationship with Polygon’s Agglayer ecosystem.

Speaking to Cointelegraph, Polygon Labs CEO Marc Boiron noted that Katana’s design prioritises active capital deployment, sustainable fee capture, and long-term DeFi growth.

He emphasised that Katana does not just aggregate liquidity—it puts that liquidity to work in ways that enhance usage, deepen pools, and sustain user incentives.

With its emphasis on “productive TVL” and built-in yield mechanics, Katana presents a different blueprint for DeFi infrastructure—one that moves beyond hype and embraces sustainable economics.

As traders and institutions seek deeper liquidity, higher yields, and safer on-chain experiences, Katana’s mainnet debut may serve as a turning point in how DeFi platforms are designed, evaluated, and adopted.

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