Market Update
10 years since the founding of Ethereum. The platform that moved crypto-assets from store of wealth to utility and pioneered the decentralised finance movement. Ethereum has processed trillions of dollars of transactions without (staggeringly) ever going down. 10 years of uptime is nothing to sneeze at.
More broadly, crypto had a consolidation week after the recent leg up. Maintaining the new high levels each step upward is an encouraging sign, sell pressure is scooped up quickly before any correction is recorded. Market analysis indicates a big short wall at US$120k, meaning if the market manages to push through that mark there will be some large liquidations which have produced volatile movements in the past.
Adoption around the world continues to thrive with 42 NASDAQ companies with BTC on their balance sheet totalling over US$100bn.
Letter from the trenches
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Crypto News
SEC Approves In-kind Creations and Redemptions for Crypto ETPs
The US Securities and Exchange Commission (SEC) has approved in-kind creation and redemption for cryptocurrency exchange-traded products (ETPs), giving authorised representatives the ability to exchange shares directly for the underlying crypto assets instead of cash. “In-kind creation and redemption provide flexibility and cost savings to ETP issuers, authorized participants, and investors, resulting in a more efficient market,” said director of the Division of Trading and Markets at the SEC.
Ether Treasury Companies to Eventually Own 10% of Supply: Standard Chartered
According to the report, corporate treasuries have acquired 1% of all circulating ether since early June. Standard Chartered forecasts ether treasury holdings could reach 10% of supply, driven by staking yields and DeFi access. The bank maintained its ether year-end price target of $4,000. Unlike bitcoin, ether treasury holdings offer returns from staking rewards, potentially giving them a structural advantage over BTC treasuries.
250,000 Tether Gold Tokens in Circulation are Backed by 7.66 Tons of Gold
Launched in January 2020, Tether Gold is a stablecoin meant to represent one troy ounce of physical gold, specifically London Good Delivery gold bars. It has a total market capitalisation above $830 million. “Tether Gold offers a familiar asset in a future-forward format,” the company added. “As the world rethinks the nature of money, XAU₮ stands ready to serve both as a safe haven and a functional, transferable reserve asset for users across the globe.”
White House Crypto Report Hails Achievements, but No Details on Crypto Reserve
On Wednesday, the U.S. government group—which includes Treasury Secretary Scott Bessent, AI and Crypto Czar David Sacks, and others—released a 166-page report (fact sheet) detailing the administration’s new approach to digital assets. The report outlines rulemaking laid out in the Genius Act, and said that more information should be coming soon on the future scope of the federal government’s crypto reserve.
Disclaimer: The information contained in this blog is general in nature and is provided for informational purposes only. It does not constitute financial, legal, or tax advice, and should not be relied upon as such. Block Earner does not guarantee the accuracy or completeness of any information presented. You should consider your own personal circumstances and seek professional advice before making any financial or investment decisions. Past performance is not indicative of future results. All investments carry risk.
