BlackRock Ethereum ETF Eyeing $1 Billion Flow Milestone, SHIB Finally Shows Signs of Potential Price Reversal, 465,657 ETH Burned in 2024: Crypto News Digest by U.Today

As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by these latest developments in the cryptocurrency space.


Check out U.Today’s top three news stories over the past day.

BlackRock Ethereum ETF eyeing $1 billion flow milestone

As a researcher, I’m excited to report that the BlackRock iShares Ethereum Trust (ETHA) is steadily approaching a significant milestone: the $1 billion mark in terms of money flow. This upcoming achievement underscores ETHA’s growing appeal among U.S.-approved issuers offering a spot Ethereum ETF. According to Farside Investors, the current inflow into ETHA surpasses $901 million, positioning BlackRock as a leading player in the Ethereum ETF market, outpacing competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.

Shiba Inu (SHIB) “higher low” spotted: Trend reversal possibilities

The Shiba Inu token might be hinting at a change in trend direction, as it appears to be forming a higher bottom on its chart. This technical development could indicate an impending upward shift following the recent downtrend. The graph demonstrates that SHIB has rebounded and formed a higher low after finding support at approximately $0.000013. This suggests potential buying activity in the market, as selling pressure may be easing. Since the price isn’t hitting new lows, the higher low is a significant signal that the trend could soon reverse. At present, the SHIB token is trading at $0.00001372, marking a 0.66% decrease over the last day, according to CoinMarketCap.

465,657 ETH burned in 2024, report reveals

As someone who has been closely following the cryptocurrency market for several years now, I must say that the recent report shared by CoinGecko about the burning of Ethereum since the beginning of 2024 caught my attention. Being an avid user of the Ethereum network and holding some ETH myself, it’s fascinating to see the impact of EIP-1559 on the network’s overall performance.

Read More

2024-08-13 19:25