Bitcoin is the first decentralized cryptocurrency. Each subsequent such currency is referred to as an “altcoin” or in other words an alternative cryptocurrency. Stay up-to-date with the latest news on the altcoin market.
On its second day of trading, the US-based spot Ethereum ETFs performed worse than the first day as they registered a net outflow of $113.3 million.
The whole cryptocurrency market seems to be experiencing a downturn after the weekend’s slight recovery when BTC managed to break above $68,000.
In its latest report, cryptocurrency analysis firm Santiment identified the DeFi altcoins that saw the most developer activity over the past month.
On their second day in the U.S. markets, Ethereum ETFs traded close to $1 billion. The spot ether ETFs saw about $951 million in cumulative trading volume on Wednesday, following $1.054 billion on their debut day, as reported by Yahoo Finance and The Block Pro Research.
Binance assessed the potential effects of the newly launched spot Ethereum ETFs on the market. According to their blog, the US SEC’s approval of these ETFs is expected to significantly influence Ethereum (ETH) prices and the broader crypto market.
Coinbase is acting as the custodian for eight out of nine newly approved Ethereum (ETH) exchange-traded funds (ETFs), as reported by CEO Brian Armstrong.
On July 23, the launch of Ethereum ETFs generated considerable buzz in the cryptocurrency sector.