Ether's Market Cap Adds Nearly "Entire Solana" In A Day
Uniswap Labs Fights SEC Lawsuit Threat, Cboe Amends Spot Ether ETF Filings
On Monday, The market cap of Ethereum has jumped by over $70 billion — around 90% of the total market value of Solana.
The current market cap of Ethereum is around $439 billion, according to TradingView data.
The surge in Ethereum's value followed the recent flip in expectations regarding the SEC's spot Ether ETF approval.
Solana, "the Ethereum killer", even in the middle of a memecoin frenzy that skyrocketed its value recently, still proves to be a rather weak competitor to Ethereum as of now.
Analysts expect that the gap between Ethereum and other crypto's market capitalizations will widen even more moving forward
Ethereum powers over 4000 dApps and has never had a complete outage like Solana or other chains.
Market Update
News
BlackRock's Bitcoin ETF Sees Highest Inflows Since April
BlackRock’s IBIT has witnessed its highest one-day inflow since April, with over $290 million pouring into the fund on Tuesday. This remarkable influx of investment underscores the growing interest and confidence in bitcoin, which has recently seen its value hover over the $70,000 mark for the first time in a month. | Read More
Another Ethereum Foundation Researcher Acknowledges Advisory Deal Paid in EIGEN
Feist's involvement with the EigenFoundation is significant due to his position as a respected researcher within the Ethereum Foundation. His advisory role, compensated through EIGEN tokens, raises questions about the impartiality of his contributions and insights regarding EigenLayer's development. This situation mirrors a previous disclosure by another researcher, Justin Drake. | Read More
Uniswap Labs Fights SEC Lawsuit Threat
Uniswap's defense hinges on the argument that its protocol, which facilitates cryptocurrency trading through a passive technology, does not constitute an exchange in the regulatory sense. Martin Ammori, Uniswap's Chief Legal Officer, has pointed out that a significant portion of the trading volume on Uniswap involves cryptocurrencies and stablecoins that do not fall under securities. | Read More
Cboe Publishes Amended Spot Ether ETF Filings
The SEC's request for universal comments is seen as a positive sign, suggesting that the commission is considering these applications seriously. However, it's important to note that the approval of the 19b-4 forms, necessary for the ETFs to move forward, does not guarantee the launch of the ETFs. | Read More
Farcaster Raises $150M
Farcaster, a platform built on the Ethereum blockchain and Optimism's layer-2 ecosystem, has successfully raised $150 million in a funding round. This significant financial boost was led by Paradigm, a notable player in the investment world, with contributions from other major firms such as a16z, Haun, USV, Variant, and Standard Crypto. | Read More