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Ethereum

Bitcoin and Ethereum ETFs Add More Than $1 Billion Combined in a Single Day

by admin May 23, 2025

In brief

Bitcoin hit an all-time high price this week while Ethereum surged earlier in May.
The BTC price record comes as investors buy into exchange-traded fund shares.
Ethereum ETFs are also collecting cash, though they haven’t seen the same demand as Bitcoin funds.

Bitcoin and Ethereum exchange-traded funds on Thursday received over $1 billion in new investments, the highest combined inflows in five months, underscoring the accelerating appetite for crypto-focused products over the past two weeks.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for most of that total, generating $877 million in net inflows. That’s the third-highest daily total for the fund, which has spearheaded the recent surge, according to data from U.K. asset manager Farside Investors. Bitcoin funds in total received $935 million in inflows.

“It’s a continuation of the momentum we’ve seen, particularly in IBIT, which hasn’t seen outflows since April 9—the day that Bitcoin put in its recent lows,” Sumit Roy, senior ETF analyst for ETF.com, told Decrypt.

He added: “The fact that Bitcoin is hitting new record highs is helping, as well, of course. There’s been a strong relationship between flows and price, and I expect that to continue.”

Bitcoin’s price has risen more than 48% since dipping below $75,000 in early April, with much of those gains coming as U.S. President Donald Trump scaled back his trade war and the latest inflation reports were tamer than expected. Investors have also looked at BTC increasingly as a safe haven asset amid still volatile macroeconomic conditions.

IBIT has received more than $1.9 billion in assets through the first four days of this week. It is the third time in the last month that the fund has collected more than than a billion in assets during a single week.

It generated $2.4 billion and about $1 billion for the weeks of April 28 and May 5, respectively. The fund has totaled nearly $41 billion in net inflows since its debut in January 2024, more than four times that of the Fidelity Wise Origin Bitcoin Trust (FBTC), which has the next-highest amount.

Bitcoin this week broke a new record when it hit a price of $111,814, according to crypto price data firm CoinGecko.

Ethereum ETFs received more than $110 million in inflows on Thursday, led by the Grayscale Ethereum Trust (ETHE) and Fidelity Ethereum Trust (FETH) with more than $40 million apiece, according to Farside.

Ethereum price gains, which lagged behind those of Bitcoin and other coins, have outpaced those assets over the past month. Ethereum was recently trading at $2,565, down 3.5% from Thursday at the same time but up more than 46% over the past 30 days.

BlackRock’s iShares Ethereum Trust (ETHA) has received over $4.3 billion in net inflows, more than double the investment in the next closest competitor in the space. The eight funds currently trading have generated more than $2.7 billion in net inflows, with Grayscale’s ETHE accounting for nearly $4.3 billion in net outflows. The fund is a conversion from a so-called closed trust that carries a higher fee than other ETFs in the category.

“Ethereum ETFs aren’t knocking the lights out, but not doing terribly either,” Bloomberg ETF research analyst James Seyffart told Decrypt. “Flows are actually strong, but underlying price is dragging down asset levels.”

Edited by James Rubin

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May 23, 2025 0 comments

Crypto Trends

Ethereum Surges With Force As Price Logs Most Significant Daily Rally In Years

by admin May 23, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Since the past few days, Ethereum price action has been nothing but quite stunning after breaking past the key $2,400 resistance level that previously hampered upside attempts. ETH’s breaking past this level has provided some sort of stability to the current upward trend as the altcoin continues to record significant gains.

A Historic Ethereum Daily Price Surge

With the broader crypto market recovering strongly, Ethereum seems to have found its footing alongside other major digital assets. Considering its recent move, seasoned market expert and host of the Crypto Banter show, Kyle Doops, claims that Ethereum has jolted back to life, indicating a resurgence of a bull market trend.

Kyle Doops made the assertion due to ETH’s remarkable performance on Thursday, pushing past the crucial $2,600 barrier range. This notable move is attributed to the renewed investors’ interest in altcoins in light of shifting market dynamics.

According to the market expert, the altcoin has pulled an over 50% price increase from the $1,800 mark to $2,700 after trailing the entire cycle. ETH’s growth within this price range was mainly bolstered by the recent integration of the Ethereum Pectra Upgrade, which was launched on May 7.

ETH records biggest daily gains | Source: Kyle Doops on X

The Pectra Upgrade is a key update in the Ethereum network consisting of two major aspects meant to enhance scalability and efficiency. Furthermore, the upgrade marks the blockchain’s most significant change made to the network since the Merge was launched in 2022.

After navigating the ETH Daily Price Performance metric, Kyle Doops revealed that the altcoin recorded more than a 21.8% rise in under 24 hours. It is worth noting that this sharp move is the biggest daily gain Ethereum has experienced since May 2021.

Given the robust bullish sentiment in the crypto market, the expert is confident that Ethereum might be waking up from its prolonged slumber, suggesting the potential beginning of a new bull phase for the crypto giant.

ETH’s Active Addresses Count On The Rise

Ted Pillows, a crypto enthusiast and investor, asserted that ETH is waking up, with its eyes set on reclaiming the $2,664 once again. Pillows is confident about ETH’s short-term performance as the weekly active addresses on the Ethereum network increase sharply, suggesting that upside momentum is building.

Data shows that the number of weekly active addresses has risen to 15.65 million. Specifically, this growth in active wallets reflects investors’ strong adoption and conviction in the network, which could set the stage for a more sustainable increase in ETH’s price.

Pillows remain extremely bullish in Ethereum’s future action, stating in a previous X post that a huge rally to the “$6,000 milestone isn’t a question of if, but when.” His prediction is due to the fact that ETH has not looked back since its deflationary shift in September 2022, and the next rally may just be “the most hated one ever.”

ETH trading at $2,671 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

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May 23, 2025 0 comments

Crypto Trends

Cointelegraph Bitcoin & Ethereum Blockchain News

by admin May 23, 2025

Understanding the Curve Finance DNS hijacking

On May 12, 2025, at 20:55 UTC, hackers hijacked the “.fi” domain name system (DNS) of Curve Finance after managing to access the registrar. They began sending its users to a malicious website, attempting to drain their wallets. This was the second attack on Curve Finance’s infrastructure in a week.

Users were directed to a website that was a non-functional decoy, designed only to trick users into providing wallet signatures. The hack hadn’t breached the protocol’s smart contracts and was limited to the DNS layer.

The DNS is a critical component of the internet that functions like a phonebook. It allows you to use simple, memorable domain names (such as facebook.com) instead of complex numerical IP addresses (like 192.168.1.1) for websites. DNS converts these user-friendly domain names into the IP addresses computers require to connect.

This is not the first time Curve Finance, a decentralized finance (DeFi) protocol, has suffered such an attack. Back in August 2022, Curve Finance faced an attack with similar tactics. The attackers had cloned the Curve Finance website and interfered with its DNS settings to send users to a duplicate version of the website. Users who tried using the platform ended up losing their money to the attackers. The project was using the same registrar, “iwantmyname,” at the time of the previous attack.

How attackers execute DNS hijacking in crypto

When a user types a web address, their device queries a DNS server to retrieve the corresponding IP address and connect to the correct website. In DNS hijacking, fraudsters interfere with this process by altering how DNS queries are resolved, rerouting users to malicious sites without their knowledge.

Fraudsters execute DNS hijacking in several ways. Attackers might exploit vulnerabilities in DNS servers, compromise routers, or gain access to domain registrar accounts. The objective is to change the DNS records so that a user trying to visit a legitimate site is redirected to a fake, lookalike page containing wallet-draining code.

Types of DNS hijacking include:

Local DNS hijack: Malware on a user’s device changes DNS settings, redirecting traffic locally.
Router hijack: Attackers compromise home or office routers to alter DNS for all connected devices.
Man-in-the-middle attack: Intercepts DNS queries between user and server, altering responses on the fly.
Registrar-level hijack: Attackers gain access to a domain registrar account and modify official DNS records, affecting all users globally.

Did you know? During the Curve Finance DNS attack in 2023, users accessing the real domain unknowingly signed malicious transactions. The back end was untouched, but millions were lost through a spoofed front end.

How DNS hijacking worked in the case of Curve Finance

When attackers compromise a website with DNS hijacking, they can reroute traffic to a malicious website without the user’s knowledge.

There are several ways DNS hijacking can occur. Attackers might infect a user’s device with malware that alters local DNS settings, or they may gain control of a router and change its DNS configuration. They may also target DNS servers or domain registrars themselves. In such cases, they modify the DNS records at the source, affecting all users trying to access the site.

In the case of Curve Finance, the attackers infiltrated the systems of the domain registrar “iwantmyname” and altered the DNS delegation of the “curve.fi” domain to redirect traffic to their own DNS server.

A domain registrar is a company authorized to manage the reservation and registration of internet domain names. It allows individuals or organizations to claim ownership of a domain and link it to web services like hosting and email.

The precise method of the breach is still under investigation. By May 22, 2025, no evidence of unauthorized access or compromised credentials was found.

Did you know? DNS hijacking attacks often succeed by compromising domain registrar accounts through phishing or poor security. Many Web3 projects still host domains with centralized providers like GoDaddy or Namecheap.

How Curve Finance responded to the hack

While the registrar was slow to respond, the Curve team took measures to deal with the situation. It successfully redirected the “.fi” domain to neutral nameservers, thus taking the website offline while efforts to regain control continued.

To ensure safe access to the frontend and secure fund management, the Curve team quickly launched a secure alternative at “curve.finance,” now serving as the official Curve Finance interface temporarily.

Upon discovering the exploit at 21:20 UTC, the following actions were taken:

Users were immediately notified through official channels
Requested the takedown of the compromised domain
Initiated mitigation and domain recovery processes
Collaborated with security partners and the registrar to coordinate a response.

Compromise of the domain notwithstanding, the Curve protocol and its smart contracts remained secure and fully operational. During the disruption of the front end, Curve processed over $400 million in onchain volume. No user data was at risk, as Curve’s front end does not store any user information.

Throughout the compromise, the Curve team was always available through its Discord server, where users could raise issues with them.

After implementing immediate damage control measures, the Curve team is now taking additional steps to prepare for the future.

Assessing and enhancing registrar-level security, incorporating stronger protections and exploring alternative registrars
Investigating decentralized front-end options to eliminate dependence on susceptible web infrastructure
Partnering with the broader DeFi and Ethereum Name Service (ENS) communities to advocate for native browser support for “.eth” domains.

Did you know? Unlike smart contract exploits, DNS hijacks leave no trace onchain initially, making it hard for users to realize they have been tricked until funds are gone. It is a stealthy form of crypto theft.

How crypto projects can deal with DNS hijacking vulnerability

The Curve Finance attack is concerning because it bypassed the decentralized security mechanisms at the protocol level. Curve’s backend, meaning its smart contracts and onchain logic, remained unharmed, yet users lost funds because they were deceived at the interface level. This incident underscores a significant vulnerability in DeFi.

While the backend may be decentralized and trustless, the front end still depends on centralized Web2 infrastructure like DNS, hosting and domain registrars. Attackers can exploit these centralized choke points to undermine trust and steal funds.

The Curve attack serves as a wake-up call for the crypto industry to explore decentralized web infrastructure, such as InterPlanetary File System (IPFS) and Ethereum Name Service (ENS), to reduce reliance on vulnerable centralized services.

To address the gap between decentralized backends and centralized frontends, crypto projects must adopt a multi-layered approach.

Here are various ways crypto projects can deal with this gap:

Minimize reliance on traditional DNS: They can minimize reliance on traditional DNS by integrating decentralized alternatives of DNS like the ENS or Handshake, which reduce the risk of registrar-level hijacks.
Use decentralized file storage systems: Hosting frontends on decentralized file storage systems such as IPFS or Arweave adds another layer of protection.
Implement domain name system security extensions (DNSSEC): Teams should implement DNSSEC to verify the integrity of DNS records and prevent unauthorized changes.
Secure registrar accounts: Registrar accounts must be secured with strong authentication methods, including multifactor authentication (MFA) and domain locking.
Train users: Educating users to verify site authenticity, such as bookmarking URLs or checking ENS records, can reduce phishing success rates.

Bridging the trust gap between decentralized protocols and centralized interfaces is essential for maintaining security and user confidence in DeFi platforms.

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May 23, 2025 0 comments

GameFi Guides

Ethereum, XRP Drop as Altcoins Brace for New Trump Tariffs on EU, Apple

by admin May 23, 2025

In brief

Altcoins were hit especially hard on Friday after Trump threatened new tariffs against Apple and the EU.
A renewed trade war would “likely support Bitcoin adoption over the medium term,” according to Grayscale’s Zach Pandl.
Although Bitcoin retreated from its recent all-time high, the price of gold jumped.

The price of various altcoins fell on Friday after U.S. President Donald Trump threatened to impose new tariffs on the European Union and Apple, the $3 trillion iPhone maker.

Ethereum was recently changing hands around $2,550, a 4.1% decrease over the past day, according to crypto data provider CoinGecko. XRP and Dogecoin fell around 3.6% to $2.35 and $0.23, respectively, while Solana edged down 0.8% to $177.

The EU, one of America’s largest trading partners, should face 50% tariffs on goods imported to the U.S., starting in no less than nine days, Trump said in a post on Truth Social. Apple should also pay 25% tariffs on iPhones that aren’t manufactured in the U.S., the president suggested in a separate post, although he did not specify when the new levies could take effect.

“Altcoins have more downside in an escalating trade conflict because they are fundamentally riskier than Bitcoin,” Zach Pandl, head of research at crypto asset manager Grayscale, told Decrypt. “Most altcoins will not benefit from reserve diversification away from the Dollar.”

Trump’s return to trade-related threats immediately punctured a risk-on sentiment that had prevailed for weeks as his administration took a de-escalatory approach to trade negotiations with nations affected by his “reciprocal” tariffs. The price of gold spiked as Treasury yields moved lower, while Wall Street indices opened in the red on Friday.

Meme coins, including Official Trump ($TRUMP), fell hardest. A day after the president hosted a private dinner for top $TRUMP holders, the asset showed a 13% decrease to $13.47.

Bitcoin’s price fell to 2.7% to $108,500, retreating from an all-time high of $111,800 a day before. Still, Pandl said that “the trade conflict will likely support Bitcoin adoption over the medium term,” echoing the asset’s performance as a safe-haven asset this year.

As markets wavered in April on tariff-related uncertainties, Bitcoin’s correlation with gold strengthened. Investors turned to both non sovereign assets, amid growing risks to the U.S. dollar and the prevailing global economic order. The trend continued into early May.

Bitcoin’s dominance ticked up on Friday, representing over 62% of the crypto market’s entire value, according to CoinGecko. That measure had softened recently amid risk-on-sentiment, retreating from a high of around 63% at the start of this month.

Conceptually, a renewed trade war could benefit altcoins, if it provokes greater interest in decentralized systems, Pandl said. However, he acknowledged that “the implications are much less direct,” and a reduced risk appetite among investors is likely to impact valuations more.

Edited by James Rubin

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May 23, 2025 0 comments

GameFi Guides

Crypto Trader Dumps XRP Holdings For Ethereum, Explains Why

by admin May 22, 2025

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A prominent crypto trader on the X (formerly Twitter) platform has made waves on social media after revealing that he sold off all of his XRP holdings in order to buy Ethereum. The trader who is known as Doctor Profit on social media revealed this to his over 400,000 followers on the platform, along with reasons why he made this move and what he expects going forward.

Dump XRP For 600% Gains To Buy Ethereum

Doctor Profit had first revealed on May 19 his intent to begin selling his XRP stash. In this initial post, he revealed that all of his XRP was bought at very low prices between $0.2 and $0.5, putting his entry very low. At the current price at the time, the crypto trader was sitting on a profit of approximately 608% at this point.

This was when he told his followers that he intended to start selling his XRP investments after holding onto them for three years. He further explained that he was only selling XRP and no other cryptocurrencies or even Bitcoin. Rather, he was selling to be able to buy more later at a much cheaper price.

Then in a follow-up post on May 20, Doctor Profit finally revealed his full plan when it comes to selling XRP. Apparently, the crypto trader had decided to dump all of his XRP in order to buy Ethereum, a move which he referred to as “a matter of capital appreciation.” The reason for this is because Doctor Profit believes that the Ethereum price could see a major increase in the near term.

As for XRP, he explained that selling his stash did not mean that he expected the XRP price to crash. Rather, it was because holding XRP didn’t make sense in the short term and was a more long-term investment. Thus, he plans to take the gains made from the Ethereum investment and then reinvest them at a later date when a good entry is presented. But for now, Doctor Profit confirmed that all of the profits made from his XRP investment in the last three years have now been moved into Ethereum.

Bullish Outlook For The Market Remains

Back during the decline that plagued the crypto market from January to March 2025, Doctor Profit was one of the analysts who called the price bottom when Bitcoin had dropped to $77,000. From there, the analyst had called that Bitcoin would rebound back above $100,000, maintaining that a new all-time high is possible. So far, his $100,000 prediction has come to pass, and the all-time high forecast was completed after Bitcoin breached $109,300 on Wednesday.

For Ethereum, the analyst’s bullish thesis has been around for a while. He has previously called Ethereum the best opportunity as its technical, on-chain, and psychological indicators have turned bullish. He believes that the Ethereum price can rise as high as $7,600, with a lot of liquidity pooling around $4,000.

ETH bulls push above $2,600 | Source: ETHUSDT on TradingView.com

Featured image from Dall.E, chart from TradingView.com

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May 22, 2025 0 comments

GameFi Guides

Ethereum (ETH) Price Prediction for May 21

by admin May 21, 2025

The crypto market remains mainly bullish today, according to CoinStats.

ETH chart by CoinStats

ETH/USD

The price of Ethereum (ETH) has gone up by 2.43% over the last day.

Image by TradingView

On the hourly chart, the rate of ETH is closer to the support than to the resistance. If bulls cannot seize the initiative soon, traders may expect a level breakout, followed by a further correction to the $2,500 zone.

Image by TradingView

On the bigger time frame, the price of the main altcoin is in the middle of the wide channel, between the support of $2,317 and the resistance of $2,738.

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As neither bulls nor bears are dominating, there are low chances of seeing sharp moves soon.

Image by TradingView

From the midterm point of view, the rate of ETH has once again bounced off the resistance of $2,608. However, if the weekly bar closes near that mark, traders may witness a blast to the vital zone of $3,000.

Ethereum is trading at $2,571 at press time.

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May 21, 2025 0 comments

Crypto Trends

Ethereum Cofounder Moves $262 Million to Kraken, What’s Happening?

by admin May 20, 2025

Ethereum cofounder Jeffrey Wilcke might be on the verge of selling around $262 million ETH on the open market. According to data insights from Arkham Intelligence, the early Ethereum developer sent 105,732 ETH to Kraken cryptocurrency ecosystem.

Ethereum sell-off scare

According to the Arkham data, the transfer was carried out at block height number 22524638 with a total fee of 0.000063 ETH valued at $0.16. This transaction has sparked a potential sell-off concern as Kraken is generally known as the platform whales use to liquidate their holdings.

It remains unknown whether the wallet associated with this Ethereum cofounder was dormant prior to this time; the transfer has stunned observers with its timing.

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Ethereum’s price is yet to break through the $2,500 mark, as volatility continues to play a part. However, Wilcke timed the transaction to coincide with a 1.56% rebound to $2,490.44.

Over the past 24 hours, the price of the top altcoin dropped to a low of $2,452 before rebounding. Ethereum whales are generally always active, considering its stable liquidity and broad markets.

Besides Jeffrey Wilcke, high-volume transfers have been linked to Justin Sun and the Ethereum Foundation recently.

Is ETH price under threat?

Related transfers are often signs of distress in the ecosystem. While the ETH price is staging a recovery overall, if more related whale transfers are unchecked, it can trigger another unexpected drawdown.

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Already, Ethereum’s price has yet to return to its highest for the day, pegged at $2,585 atop a 3.26% drop over the past week.

The impact of the Pectra upgrade is also fading fast, as there are reports of a possible bug threat in EIP-7702. Overall, market experts are watching the trends, especially with the possibility that the Jeffrey Wilcke transfer has other unknown purposes, like custody.

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May 20, 2025 0 comments

GameFi Guides

Ethereum (ETH) Lost $3,000, XRP to Lose $2? Shiba Inu (SHIB) Breakthrough Failed?

by admin May 20, 2025

XRP at pivotal state
Shiba Inu gets cut

Ethereum is now further declining into a short-term downtrend that could end its recent bullish recovery after losing its footing above $3,000. The price action has quickly turned sour after ETH’s strong breakout earlier this month that forced it through its 200 EMA for the first time in months.

A falling wedge pattern breakdown is the most obvious warning sign. Bullish continuation patterns are typically thought of as falling wedges. However, the breakdown in the case of ETH demonstrates that the pattern served more as a reversal trap than a consolidation. This invalidation implies that the market is weakening rather than undergoing a healthy correction.

ETH/USDT Chart by TradingView

Ethereum now has no support at the 200 EMA, which is at $2,438. This adds to the bearish pressure. Because of the recent daily close below this crucial technical level, which has moved from support to resistance, the outlook for the coming days is bleak. If the next strong support level does not hold, a retest of $2,000 is very likely. It is located between $2,200 and $2,170. Additionally, volume trends are not favorable.

There has not been a surge in bullish buying volume to counteract the selling despite several red candles over the past few sessions. That proves one thing: people are becoming less confident. Ethereum’s macrotrend is still in place for the time being, but the wider market may follow if this local decline is not swiftly stopped.

How ETH’s rally was so brittle and how unprepared the bulls were for actual resistance is demonstrated by the failure to sustain bullish structure so quickly after breaking out above the 200 EMA.

XRP at pivotal state

The price of XRP is beginning to flirt dangerously with the 26 EMA, a crucial dynamic support level signaling the start of a critical juncture. With downside targets in the $2.18 and $2.04 range not far off, a more severe decline may be imminent if the asset’s current trading level of $2.31 is broken by this pivotal moving average.

The bullish momentum that propelled XRP toward the $2.80 mark after a brief rally has obviously stalled. Even more alarming is the volume’s steady decline, which suggests that buyer interest is waning. Without large inflows or a resurgence in sentiment, XRP might not be able to hold its current value, much less rise in the near future.

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A lot of bulls were aiming for the psychologically significant resistance level of $3.00, which the recent move invalidated. Since that path is now essentially blocked, XRP is consolidating within a smaller range, with each bounce appearing weaker than the one before it. Technically, if the 26 EMA breaks, the asset could potentially enter a more severe correction.

Although the fall may be slowed by the support confluence around $2.18, the door to $2.00 reopens if that cracks as well. Market sentiment and on-chain activity also exhibit this decision mode phase. While many traders are awaiting cues, few are prepared to make capital commitments at the present time. The bias remains skewed to the downside until volume picks back up and the price firmly reclaims higher support zones.

Shiba Inu gets cut

After what appeared to be a successful breakout attempt above the 100 EMA, Shiba Inu is once again under downward pressure. The asset raised expectations for a long-term rally in early May when it was able to break through this important moving average. The bullish momentum, however, soon waned, and SHIB has since made a significant retracement, falling back below the support zone it momentarily claimed.

SHIB’s lack of conviction is a larger problem, as evidenced by the failed breakout above the 100 EMA, which is currently trading close to $0.000015. Even though volume increased during the attempted upward move, there was no follow-through buying. The token has now returned to the $0.000014 level due to a surge of selling pressure, with bearish momentum increasing.

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Slightly above the failed breakout zone, the 200 EMA (black line) is where the chart structure shows a clear rejection. This rejection now serves as a strong obstacle that SHIB will find difficult to get past in the absence of strong fundamental or speculative catalysts. Shiba Inu is still one of the most well-known meme coins on the wider market, but its usefulness is still debatable.

The market is not returning developers’ promises of ecosystem expansion, such as Shibarium and token burns, with sustained confidence. As an alternative, SHIB’s price still fluctuates in a boom-and-bust pattern typical of assets that are driven by hype. Any break below the current support level, which is between $0.0000135 and $0.0000130, would probably pave the way for a decline toward local lows.

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May 20, 2025 0 comments

NFT Gaming

Bitcoin Taps $106,000 Before Tumbling as Ethereum Dips

by admin May 19, 2025

In brief

Bitcoin hit $106,000 before slipping 3.8% to $102,450 in a matter of hours
Ethereum tumbled 4.3% on Monday to $2,400, prompting $264.4 million worth of liquidations
The Federal Reserve warned that Trump’s tariffs could cause inflation to rise, with Walmart also increasing its prices due to the trade war.

Leading cryptocurrency Bitcoin has had a volatile start to the week as it rose 2.5% from $103,850 to $106,500 before slumping 3.8% to $102,450 on Monday.

With Bitcoin’s major moves $178.46 million worth of positions have been liquidated over the past 24 hours, according to CoinGlass, with a fairly equal split between long and short positions.

This comes as a class action lawsuit was filed against MicroStrategy, the firm led by Michael Saylor that is bullishly acquiring Bitcoin, claiming that the firm is misleading investors—a matter of hours later the company announced the acquisition of $764.9 million worth of BTC.

Plus, an Australian judge ruled that Bitcoin is a form of money, according to the Australian Financial Review. That will potentially open the door to Bitcoin being exempt from capital gains tax.

Meanwhile, Ethereum has tumbled 4.3% on the day from $2,500 to $2,400 after what was considered a great month for the second largest cryptocurrency. As such $264.40 million worth of Ethereum positions have been liquidated, according to CoinGlass, with $205.28 million of these being longs.

This follows a month of green action for most of the crypto industry, as President Trump’s trade war appears to be coming to a close.

At the start of May, the U.S. and the UK agreed on a trade deal in what the UK Treasury minister called a “huge relief.” Then, last week, China reached an agreement with the States prompting a major roll back in tariffs between the countries.

However, inflation concerns have resurfaced following the Federal Reserve keeping its benchmark interest rate at 4.25% to 4.50%, with no sign of an immediate shift in policy—despite criticism from Trump. The Fed also warned that the risk of higher inflation and unemployment were rising due to Trump’s tariff war.

These concerns were compounded last week by Walmart announcing plans to raise prices this month, due to the impact that tariffs had on imports.

This may explain why Bitcoin has had such a surprisingly volatile week. It hit a weekly low of $101,750 on Tuesday followed by multiple peaks and troughs before hitting $106,500 high on Monday, and slumping back to $102,450 hours later.

Despite Bitcoin’s 1.4% drop on the day, according to CoinGecko, it remains just 5.8% from its all-time high of $108,786 hit in January of this year. Ethereum, by comparison, is still 50.9% from its all-time high of $4,878 achieved in 2021.

Edited by Stacy Elliott.

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May 19, 2025 0 comments

GameFi Guides

Investors Snap Up $200M in Ethereum Funds as Interest Grows After Pectra Upgrade

by admin May 19, 2025

In brief

Ethereum products’ inflows surged after the network’s Pectra upgrade.
Year-to-date flows for crypto funds topped $7.4 billion, a new record for 2025.
Ethereum’s Pectra upgrade has made it easier for institutions to integrate staking rewards into their current products, Sui Chung, CEO of CF Benchmarks, said.

Ethereum investment products generated $205 million worth of inflows last week following the asset’s climb toward $2,700—far more than the $1.5 million a week prior—according to a report from crypto asset manager CoinShares on Monday.

Overall, investors stuffed $785 million into digital asset investment products, including spot exchange-traded funds, lifting year-to-date inflows to more than $7.4 billion, their highest point of 2025.

“Ethereum was the standout performer,” CoinShares Head of Research James Butterfill wrote, noting that Solana-based funds generated $1 million worth of outflows.

On Monday, the price of Ethereum had fallen to $2,400, a 4.3% decrease over the past day, according to crypto data provider CoinGecko. However, the asset’s price was still up 50% over the past thirty days, and notably higher than the $1,850 mark where it began this month.

Despite notching one of its worst performances on record in the first quarter, Butterfill told Decrypt that Ethereum investors have still been willing to gain exposure to the asset.

“It’s been massively beaten down in price recently,” he said. “What’s been really encouraging, when […] the price has been beaten down, it’s seen a big influx of inflows.”

Less than two weeks ago, Ethereum activated the first phase of its Pectra upgrade. Among sweeping changes to the network, Pectra improved scaling solutions that aim to keep transactions affordable long-term, while increasing the amount of Ethereum that can be staked per validator—another move aimed at honing the network’s overall efficiency.

Although Ethereum funds exhibited notable strength, Bitcoin products attracted more cash. After pulling in $557 million last week, Bitcoin funds have generated $7.2 billion in inflows year-to-date, accounting for the lion’s share of all flows.

Overall, digital asset investment products notched their fifth straight week of inflows. That lifted year-to-date inflows to $7.5 billion, pushing past a peak of $7.2 billion in February, before U.S. President Donald Trump’s tariffs created weeks of tariff-linked turmoil.

According to crypto data provider Coinglass, spot Ethereum ETFs have lagged behind Bitcoin counterparts in the U.S., pulling in $2.5 billion compared to the latter’s $42 billion, since their debuts in 2024. Part of that disparity, analysts say, is because of a lack of staking rewards for Ethereum ETF investors.

Through staking, users can earn rewards by pledging assets to a network in order to help it process transactions. The process became core to Ethereum with the network’s shift to a proof-of-stake consensus model in 2022.

By bringing a level of operational predictability to Ethereum staking, Ethereum’s Pectra upgrade will make it easier for institutions to integrate staking rewards into their products, according to Sui Chung, CEO of CF Benchmarks, which provides crypto pricing data to CME Group.

“This isn’t just a technical upgrade,” he told Decrypt. “To offer an ETH ETF that includes staking, fund managers need infrastructure that mirrors traditional finance with clear redemption timelines, reliable liquidity, and flexible control over assets.”

Edited by James Rubin

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May 19, 2025 0 comments