🪙 Ethereum Clocks Worst Month in Over Two Years

Ethereum had its worst month in over two years as a series of factors, from exchange-traded funds (ETFs) outflows to lack of mainnet activity, are conspiring to produce a very bearish bull market. ETH dropped 22% in August, the worst monthly performance since Terra’s implosion in June 2022, when the asset plummeted 45%. Meanwhile, Bitcoin dropped 8% in the same month, while the rest of the cryptocurrency market’s capitalization declined by 5% to $2.1 billion from $2.2 billion.

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🔵 Ethervista launches on Ethereum, aims to outshine Pump.fun with secure liquidity locks

Ethervista is a decentralized exchange (DEX) that introduces a novel approach to liquidity management and token launches on the Ethereum network. One of its key features is the 5-day liquidity lock for creators, which helps prevent rug pulls that often occur within the first four days of a project’s launch on platforms like Pump.fun.

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🪙 Grayscale unlock hindered Ethereum ETFs but inflows suggest brighter future

The US-traded spot Ethereum (ETH) exchange-traded funds (ETFs) registered $476 million in negative net flows during the first month of trading, failing to overcome the outflows stemming from the unlock of Grayscale’s ETHE. Bloomberg senior ETF analyst Eric Balchunas the “heroic” performance of the Newborn Nine spot Bitcoin (BTC) ETFs, which recorded enough inflows to heavily overshadow the massive outflows experienced by GBTC.

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🪙 Ethereum CME futures trading volume hits 9-month low in August

Chicago Mercantile Exchange (CME) Ethereum futures volume dwindled to a multi-month low in August, according to The Block's data. Aggregated monthly trading volumes of CME Ethereum futures for the month of August were $20.8 billion, according to The Block's Data Dashboard. The trading volumes, estimated in dollar terms, show a 31% decline from July's $30.5 billion. According to The Block's data, August's trading volume was a low not seen since November 2023.

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🪙 Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant

Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said.

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🪙 Ethereum Foundation to release financial report, holds roughly $650 million in main wallet: Justin Drake

The Ethereum Foundation will release a financial report “relatively soon,” as the foundation’s spending has recently been a burning issue among the community. In an ask-me-anything (AMA) on the r/ethereum subreddit, Justin Drake, an Ethereum researcher, wrote under the nickname “bobthesponge1” that the foundation is preparing to publish a financial report similar to one released in April 2022.

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🪙 Vaneck Reveals Plans to Close Ethereum Futures ETF

On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT). The liquidation comes after evaluating key factors, including performance and investor interest. The firm noted that shareholders will have until September 16, 2024, to sell their shares before delisting.

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🪙 Vitalik Buterin Responds to Rumored Sales, Reaffirms Commitment to Ethereum and Charitable Causes

After some activity was noticed from wallets linked to Vitalik Buterin, co-founder of Ethereum, he took to the social media platform X to clarify the situation. He stated that all his token sales were meant to “support various projects.” Buterin added that any ERC20 tokens gifted to him would go toward “public goods within the Ethereum ecosystem or broader charity.”

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🪙 Ethereum Foundation’s ETH Sale Stirs Buzz in Crypto Community

Ethereum’s price dropped significantly during the summer of 2023, facing challenges similar to the broader cryptocurrency market. A mix of macroeconomic conditions, including regulatory uncertainty and shifts in investor sentiment, contributed to the decline.

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🪙 Vitalik Buterin Stuns Community With Controversial Bull Posting Amid Ethereum Sales

In a recent attention-grabbing move, a wallet associated with Ethereum cofounder Vitalik Buterin has just exchanged 190 ETH for $441,971 in USDC. This transaction, which took place just a few hours ago, marks another significant shift for a wallet that has been in the spotlight since late August, as the wallet has unloaded a total of 950 ETH, equivalent to $2.28 million, at an average price of $2,396 per ETH.

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🪙 Ethereum’s Buterin vows to support only highly decentralized Layer-2 projects

Ethereum co-founder Vitalik Buterin announced a change in how he will discuss Layer 2 (L2) projects starting next year. In a Sept. 12 X post, Buterin said he would only publicly recognize L2s that have reached Stage 1 or higher in their decentralization efforts regardless of his investment. According to him, a network would require 75% consensus from the council to override the proof system, with at least 26% of council members being independent of the rollup.

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🪙 ETH's underperformance tied to current crypto market structure: Coinbase

Apart from declining network activity and token inflation, ether's recent underperformance compared to its peers likely stems from broader market factors following the deleveraging event in early August, according to an analyst at Coinbase. "#Ethereum’s network activity and supply inflation are important factors to consider in its underperformance, but we also think the price action has been driven by the current market structure," Coinbase Global Head of Research David Duong said in a report.

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🪙 #Ethereum Foundation researcher Danny Ryan steps away after seven years of contributions

Ethereum Foundation researcher Danny Ryan is stepping away from the Ethereum ecosystem after seven years of contributions. Ryan attributes his departure to personal reasons and to create room for other opportunities, according to a Friday post on GitHub. He added that his reason for leaving is "not a reflection of any facet of Ethereum, core development or crypto at large."

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🪙 Ethereum could rally 17% amid Bitwise thesis on ETH contrarian bet

Ethereum (ETH) is up 2% on Tuesday as anticipation grows for a 50-basis-point interest rate cut by the US Federal Reserve (Fed). Meanwhile, Bitwise's weekly memo noted that Ethereum still provides several opportunities and looks like a contrarian bet.

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🪙 'It’s cool to hate Ethereum right now. I bet this ends up looking silly,' Bitwise CIO says

"No one likes Ethereum right now," according to Bitwise CIO Matt Hougan, with the /BTC ratio recently hitting its lowest level in three years below 0.04. But while there are good reasons to be concerned, it offers a potential contrarian bet coming into year-end, he said. Despite a promising start, it has not been the best of years for the second-largest cryptocurrency by market cap, trading up just 1% year-to-date, according to The Block’s Ether Price Page.

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