Cryptocurrencies are known for their rapid changes, which is why it’s crucial for investors to stay updated. So, what has happened in the crypto world in the last 24 hours? Let’s take a look.
Recent Developments in Cryptocurrencies:
One notable development is the release of Julian Assange, the co-founder of WikiLeaks, thanks to the support of Bitcoin. After 14 years of fighting against extradition to the USA, Assange received a generous donation of approximately $500,000 from a Bitcoin investor. This allowed him to cover travel and settlement expenses for his family. As a result, Assange left the UK and relocated to Saipan in the Northern Mariana Islands, where he admitted to violating the Espionage Act in a local court. The entire process was funded by crypto investors.
Ethereum Inflation:
The circulating supply of Ethereum has been steadily increasing for over 70 days, marking a shift from its previous deflationary trend. This change occurred after Ethereum’s Dencun update, which significantly reduced transaction fees and distributed staking rewards over the burned supply. Despite this increase in circulating supply, the network’s activity remains high. Since the Merge, over 345,000 ETH has been burned, preventing $1.1 billion worth of supply from entering circulation. However, it’s important to note that the supply has been increasing for 73 days, indicating a shift towards inflation.
Spot Ethereum ETF Listing:
VanEck, a prominent investment management firm, has submitted Form 8-A to the US Securities and Exchange Commission for its spot Ether ETF. This submission suggests that the listing process is nearing completion, similar to the process for Bitcoin ETFs. Bloomberg ETF analyst Eric Balchunas has mentioned that this is part of the standard process, and the SEC is expected to issue the listing order soon. If the timeline follows that of the Bitcoin ETF process, the Ethereum ETFs will start trading on July 2. Several companies, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise, have already had their spot Ethereum ETF applications approved. The approval was granted approximately a month ago.
It’s important to note that the information provided in this article does not constitute investment advice. Cryptocurrencies are highly volatile, and investors should conduct their own research and be aware of the associated risks. If you want to stay updated on the latest technology news, you can visit NEWSLINKER or follow our news on Telegram, Facebook, Twitter, and Coinmarketcap.
