Crypto News

Ether (ETH) has underperformed year-to-date, declining over 20%, but fundamentals are improving and total value locked (TVL) on the Ethereum blockchain has risen dramatically, Wall Street bank Citi (C) said in a research report Monday."While user activity has been volatile in recent weeks, the fundamental backdrop is not all that murky," analysts led by Alex Saunders wrote.Citi noted that TVL on the Ethereum network has risen sharply, while ether exchange-traded funds (ETFs) are still seeing inflows, and search interest is rising.Following the U.S. election in November, ether ETF flows turned positive, the report noted, with total inflows of $3.2 billion since their July launch.Stronger user growth on layer-2s and rival blockchain's such as Solana has raised questions about Ethereum's competitive...

A Kenyan law enforcement agency said it regained control of its X and Facebook accounts on Feb. 9, just hours after hackers used them to promote a fake cryptocurrency. Hackers Offer Tokens for Likes Kenya’s Directorate of Criminal Investigations (DCI) announced Feb. 9 that it had regained control of its X and Facebook accounts fromSource link

Hedge funds hold record short positions in ether (ETH) futures trading on the Chicago Mercantile Exchange (CME), raising questions about the motivations behind these positions.At first glance, the data could suggest that sophisticated market players anticipate price slides, as discussed on social media. However, this isn’t entirely accurate; carry trades or arbitrage plays primarily drive the record short interest, but some of these short futures trades represent outright bearish bets on the cryptocurrency, per observers.As of the week ended Feb. 4, hedge funds held a net short position of 11,341 contracts in the CME futures, according to data tracked by ZeroHedge and the Kobeissi Letter. The number has increased 40% in one week and 500% since November, according to The...

Odds of a litecoin (LTC) exchange-traded fund (ETF) going live in the coming months jumped to over 90% with dogecoin (DOGE) next at 75% odds, well-followed ETF analyst James Seyffart said in an X post late Monday.Seyffart made similar predictions for bitcoin (BTC) ETFs before the products went live in 2024. Several providers have filed ETFs for various major tokens in the past year under the Biden administration to low interest from the U.S. Securities and Exchange Commission (SEC). LTC is up 15% in the past 24 hours, beating a 2% increase in bitcoin (BTC), with DOGE up 6%.A shifting regulatory climate has buoyed approval hopes, however, with the SEC already passing initial checks for certain tokens in the past...

NYSE Arca has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Cardano Trust, paving the way for the first U.S. exchange-traded fund (ETF) tied to Cardano’s ADA cryptocurrency. Proposed Grayscale Cardano ETF Moves Forward With NYSE Arca Filing The 19b-4 form filing, submitted underSource link