Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA: ETH)

에 대한 최신 뉴스 Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA:ETH)

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Grayscale Ethereum Mini Trust

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Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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Grayscale Ethereum Trust (ETH) Common units of fractional undivided beneficial interest

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Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the second-largest cryptocurrency by market capitalization, has charted a diametrically opposite trajectory when compared to its older sibling, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), over the past year.
Consider this. Bitcoin has jumped 32% in a year, reaching an all-time high of $109,000. Its share in the overall cryptocurrency market has expanded from 52% to 60%.
Ethereum, on the other hand, contracted 39% during the same time, reducing its market share from 16% to 8%.
The widening gap has sparked discussions about Ethereum's role in the cryptocurrency hierarchy and its future course Benzinga spoke to a few analysts to understand the factors contributing to the ecosystem's ongoing downturn.
<h2 class="wp-block-heading">The Inflationary Problem</h2>
Jeffrey Hu, Head of Investment Research at digital asset manager HashKey Capital, believed the fault lies in Ethereum's economic model.
"The activation of EIP-1559 allows more Ether to be burned for deflation when Ether activity is high on Ethereum; however, in order to further support on-chain applications, Ethereum must scale," Hu stated.&nbsp;
The Ethereum London Hard fork, dubbed <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22898549/what-happens-in-the-ethereum-network-after-the-eip-1559-launch-lets-find-out">EIP-1559</a>, introduced a token burn mechanism for the network. Under this mechanism, the base fee, i.e., the minimum fee per transaction, is removed to add deflationary pressure to ETH and boost its value.
So, what exactly is the problem?
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/25/03/44410262/why-bitcoin-pulls-back-and-then-gains-after-economic-uncertainties-like-tariffsbitwise-cio-explains-dip-then-rip-phenomenon">Bitcoin&#8217;s Crisis Paradox Decoded: Bitwise CIO Explains &#8216;Dip Then Rip&#8217; Phenomenon</a>
Hu asserted that the rise of&nbsp; Layer-2 blockchains and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37667987/ethereum-dencun-upgrade-drops-layer-2-fees-by-99">Dencun Upgrade</a>, which slashed fees on L2s by orders of magnitude, diverted on-chain activity away from the base Ethereum chain, resulting in inflation.
According to Ultrasound Money, ETH's deflation rate started slowing down in May 2024, and since early February, the coin's supply has been net increasing.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="858" height="441" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20152554/Screenshot-2025-03-21-005532.png" alt="" class="wp-image-834628" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20152554/Screenshot-2025-03-21-005532.png 858w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20152554/Screenshot-2025-03-21-005532-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/20152554/Screenshot-2025-03-21-005532-768x395.png 768w" sizes="(max-width: 858px) 100vw, 858px" /><figcaption class="wp-element-caption">Source: Ultrasound Money</figcaption></figure>
Trever Koverko, Web3 investor and co-founder of Sapien, echoed these observations.
"Ethereum is struggling to establish a narrative around how L2&#8217;s are accretive and not extractive to the main chain," he added.&nbsp;
However, L2s were not the only competition that Ethereum encountered.
<h2 class="wp-block-heading">Competition From Solana&#8217;s Meme Frenzy</h2>
"Ethereum is also not doing well in terms of community culture. In contrast, Solana clearly places more emphasis on meme coin community culture, which has attracted more application development and on-chain transactions," Hu said.
Over the past year, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) has indeed become a meme coin hotspot, helped by its <a href="https://in.benzinga.com/25/01/43376047/are-fartcoin-moodeng-tokens-securities-memecoin-creator-pumpfun-slapped-with-class-action-lawsuit">user-friendly meme coin generator</a> Pump.fun. In fact,&nbsp; President Donald Trump and First Lady Melania Trump also chose Solana to launch their Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) and Official Melania (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MELANIA</a>) coins, respectively.
<h2 class="wp-block-heading">The &#8216;Middle Child&#8217; Sentiment?</h2>
It&#8217;s worth remembering that Ethereum remains the only cryptocurrency other than Bitcoin to have<a href="https://www.benzinga.com/topic/ethereum-etf"> its spot exchange-traded fund</a> on Wall Street, however, inflows have been relatively <a href="https://sosovalue.com/assets/etf/us-eth-spot">subdued</a>.
Himanshu Maradiya, Founder &amp; Chairman, CIFDAQ Global, stated this is due to a lack of a clear consensus on Ethereum's narrative. 
&#8220;Lacking a pure store-of-value proposition and often perceived as the "middle child" of the crypto ecosystem, Ethereum struggles to capture the same institutional confidence,&#8221; Maradiya argued. 
He also noted that the absence of staking rewards has made Ethereum ETFs less appealing, which <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43690757/are-ethereum-staking-etfs-on-the-way">may be remedied</a> given that fresh applications have been filed to allow them.
A spokesperson for the Ethereum Foundation—a non-profit dedicated to promoting and developing Ethereum-related technologies—declined to comment on ETH's shrinking market share but said that their focus remained on ecosystem development and research.
Price Action: At the time of writing, Ethereum was exchanging hands at $1,978.99, down 2.17% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin has slipped 41%.
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Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44410584/amid-bitcoins-decline-gold-backed-cryptos-have-returned-solid-gains-this-year">Bitcoin&#8217;s Recent Struggles Aside, Gold Hit A New All-Time High Shining A Bright Spotlight On These Precious Metal Cryptos That Rocked In 2025</a></li>
</ul>

Exclusives

$MELANIA

$SOL

$TRUMP

Why Ethereum Is Lagging Bitcoin—Analysts Cite Inflationary Problems, Dencun Upgrade Blowback, And Solana's Meme Coins

Medical technology company&nbsp;BioNexus Gene Lab Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGLC#NASDAQ">BGLC</a>) announced the adoption of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as a&nbsp;treasury reserve asset on Wednesday, following the cryptocurrency&#8217;s inclusion in the U.S. strategic reserve.
What Happened: The company&#8217;s board approved the&nbsp;new Ethereum-focused treasury strategy, according to a press release.
&#8220;This decision marks BGLC as the first Nasdaq-listed company to exclusively prioritize Ethereum as a strategic treasury asset, and is in line with recent announcements of Ethereum being included in the U.S. "Crypto Strategic Reserve," BioNexus said.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44133314/el-salvadors-president-bukele-remains-defiant-amid-imfs-concerns-on-bitcoin-accumulation-it-wont-stop-now-and-it-wont-stop-in-the-future">El Salvador&#8217;s Nayib Bukele Defiant Amid IMF&#8217;s Bitcoin Accumulation Concerns: &#8216;It Won&#8217;t Stop Now, And It Won&#8217;t Stop In The Future&#8217;</a>
Alongside this, the company also unveiled its Ethereum Strategy Whitepaper, outlining the rationale behind opting for Ethereum. 
The whitepaper highlights Ethereum&#8217;s strengths in decentralized finance, <a href="https://www.benzinga.com/topic/stablecoin">stablecoin </a>settlements, and the ability to generate passive income through <a href="https://www.benzinga.com/money/how-to-stake-ethereum-eth#:~:text=Staking%20is%20a%20process%20in,provides%20you%20with%20a%20reward.">staking</a>.
The whitepaper provides a deep dive into Ethereum&#8217;s&nbsp;institutional adoption, staking capabilities, and&nbsp;forthcoming protocol upgrades, all of which strengthen&nbsp;its long-term value and corporate&nbsp;utility.
The company also credited the blockchain-friendly laws of <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40014390/university-of-wyoming-launches-first-ever-academic-bitcoin-research-institute">Wyoming</a>, where it is incorporated, for influencing the decision.
Why It Matters: BioNexus&#8217; move comes amid strengthening discourse around stacking cryptocurrency in corporate reserves to benefit from long-term gains.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury company Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has been the <a href="https://www.benzinga.com/25/03/44135791/investor-mike-alfred-alleges-wall-street-giants-are-targeting-michael-saylor-led-strategy-by-driving-bitcoin-lowercritic-dismisses-it-as-conspiratorial-thinking">market leader</a>, accumulating a stockpile worth over $43.84 billion, <a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according</a> to bitcointreasuries.net.
Both Bitcoin and Ethereum would be at the &#8220;heart&#8221; of a U.S. strategic cryptocurrency reserve, President Donald Trump <a href="https://www.benzinga.com/25/03/44107003/trump-faces-backlash-over-crypto-reserve-plan-from-bitcoin-supporters-including-his-own-dont-think-the-government-should-be-pumping-our-crypto-bags-with-taxpayer-money">declared </a>last week.
Price Action: At the time of writing, Ethereum was exchanging hands at $2,303.40, up 5.53% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Shares of BioNexus were up 5.39% in after-hours trading, after closing 3.37% higher at $0.3416 during Wednesday&#8217;s trading session.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44133774/trump-to-remove-canada-tariffs-polymarket-bettors-say-52-chance-of-this-happening-before-this-time">Trump To Remove Canada Tariffs? Polymarket Bettors Say 52% Chance Of This Happening Before This Time</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo courtesy: Shutterstock

BGLC

MSFT

BioNexus Stock Pops As It Embraces Ethereum-Focused Treasury Strategy, Says It Is First On Nasdaq To Do So

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares rose 3.94% in Wednesday&#8217;s pre-market trading, as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) moves closer to the $90,000 mark, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>
What Happened: Strategy, a major Bitcoin holder, saw its shares rise as the cryptocurrency recovered&nbsp;its previous losses amid bargain buying and hopes of a tariff relief. On Tuesday, US Commerce Secretary Howard Lutnick signaled that President Donald Trump could give concessions to Canada and Mexico, after imposing a 25% tariff.
Bitcoin has been quite volatile in the week so far. Over the weekend and Monday, it moved higher as Trump announced plans of a crypto reserve. However, the optimism was short-lived and the cryptocurrency gave up the gains following tariff concerns. Furthermore, several pro-Trump Bitcoin supporters <a href="https://www.benzinga.com/25/03/44107003/trump-faces-backlash-over-crypto-reserve-plan-from-bitcoin-supporters-including-his-own-dont-think-the-government-should-be-pumping-our-crypto-bags-with-taxpayer-money">criticized the President </a>for including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) in the reserve, rather than creating an exclusive Bitcoin reserve. Notably, Trump did not talk about Bitcoin in his address to Congress on Tuesday. 
SEE ALSO: <a href="https://www.benzinga.com/25/03/44136859/asml-faces-uncertainty-as-us-sanctions-on-china-cut-demand-stock-down-24-in-12-months">Chip Equipment Maker ASML Faces Uncertainty As US Sanctions On China Impact Demand</a>
Why It Matters: MSTR witnesses gains as the company&#8217;s co-founder Michael Saylor strengthens his ties with the Donald Trump administration. He is also scheduled to participate in an industry roundtable at the <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44125213/white-house-crypto-summit-to-feature-roundtable-with-industry-leaders-including-michael-saylor">White House Crypto Summit </a>later this week.
Earlier in March, a regulatory filing revealed that&nbsp;Strategy Inc. had not sold or bought additional Bitcoin in the week from Feb. 24 to March 2, 2025. Saylor also stated that the company generated&nbsp;profits of $2.6 billion in&nbsp;the first two months of&nbsp;2025.
Meanwhile, Mike Alfred, a renowned investor and Bitcoin backer, accused Wall Street giants of <a href="https://www.benzinga.com/25/03/44135791/investor-mike-alfred-alleges-wall-street-giants-are-targeting-michael-saylor-led-strategy-by-driving-bitcoin-lowercritic-dismisses-it-as-conspiratorial-thinking">manipulating Bitcoin prices</a> to put pressure on companies like Strategy that possess substantial Bitcoin holdings.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/tech/25/03/44135610/elon-musks-tesla-introduces-limited-time-insurance-subsidy-of-over-1000-on-model-3-purchases-in-china">Elon Musk&#8217;s Tesla Introduces Limited Time Insurance Subsidy Of Over $1000 On Model 3 Purchases In China</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$ADA

$XRP

MSTR Stock Rises Nearly 4% in Wednesday Pre-Market Trading: What's Going On?

President Donald Trump&#8217;s <a href="https://in.benzinga.com/trading-ideas/movers/25/03/44069381/cardano-surges-57-whales-pile-on-xrp-solana-heres-how-the-3-altcoins-reacted-to-inclusion-in-us-crypto-reserve">announcement of a strategic cryptocurrency reserve</a> marked a tectonic shift in U.S. fiscal policy, contrasting with the restrictive approach of the previous Joe Biden administration.
What happened: Aside from blue-chip coins like Bitcoin and Ethereum, said to be at the &#8220;heart&#8221; of the reserve, popular altcoins such as XRP, Cardano, and Solana have been confirmed for inclusion.
While the rationale behind selecting these cryptocurrencies hasn't been provided, they all boast high market capitalization and have a history of delivering strong returns to investors.&nbsp;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44101649/whale-leveraged-50x-short-sees-81-million-in-paper-gains-as-ethereum-plummets-after-trumps-tariff-confirmation">Whale Leveraged 50x Short Sees $81 Million In Paper Gains As Ethereum Plummets After Trump&#8217;s Tariff Confirmation</a>
As clear from the table, Solana has been the most profitable investment over the last five years, netting an eye-popping 16946% return to its holders.&nbsp;
Cardano&#8217;s native coin, ADA, has risen by 1796%, while BTC, ETH, and XRP have all gained over 800%.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>5 Year Gains +/-</td>
<td>1 Year Gains +/-</td>
<td>Price (Recorded at 1:20 a.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+894%</td>
<td>+29.52%</td>
<td>$87,096.73</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+870%</td>
<td>-41.38%</td>
<td>$2,179.01</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+931%</td>
<td>+276.91%</td>
<td>$2.42</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>+16946%</td>
<td>+7.29%</td>
<td>$141.81</td>
</tr>
<tr>
<td>Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</td>
<td>+1796%</td>
<td>+20.91%</td>
<td>$0.9299</td>
</tr>
</tbody>
</table>
</figure>
On a lower timeframe, though, some cryptocurrencies haven't been as exciting.
ETH, notably, has plunged 41% over the last year, while Solana has eked out a comparatively narrow gain of around 7%.
XRP has maintained the bullish impulse, surging an impressive 276% in the last year, while BTC and ADA have risen 29.52% and 20.91%, respectively.
Details on the weightage of the coins in the reserve remain unclear, and the industry eagerly awaited the upcoming <a href="https://www.benzinga.com/25/03/44064928/trump-to-host-first-ever-white-house-crypto-summit-next-friday-btc-surges-past-85000-doge-surges-over-10">cryptocurrency summit</a> at the White House to learn more.
That said, the announcement has already invited backlash, with even Trump's supporters <a href="https://in.benzinga.com/25/03/44070857/coinbase-ceo-brian-armstrong-thinks-having-a-bitcoin-only-crypto-reserve-best-option-while-arthur-hayes">questioning the need</a> to include cryptocurrencies other than Bitcoin to build a reserve.
Photo Courtesy: Shutterstock
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<li><a href="https://www.benzinga.com/25/03/44100824/china-working-behind-closed-doors-to-create-strategic-bitcoin-reserve-says-bitcoiner-who-orange-pilled-trump">China Working Behind Closed Doors To Create Strategic Bitcoin Reserve, Says Bitcoiner Who &#8216;Orange Pilled&#8217; Trump</a></li>
</ul>

Trump-Announced Crypto Reserve Will Include These Coins, But One Name Has Made Investors Exceptionally Rich Over 5 Years

President Donald Trump&#8216;s recent crypto reserve plan has sparked discontent among his tech community supporters. The plan, announced on Sunday, has led to a significant divide among his tech allies.
What Happened:  The crypto enthusiasts have not welcomed President Trump&#8217;s decision to establish a strategic crypto reserve for the U.S., CNBC <a href="https://www.cnbc.com/2025/03/04/pro-trump-techies-enraged-by-crypto-reserve-plan-causing-early-rift.html">reported</a> on Tuesday. The reserve will comprise not only Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) but also other digital currencies such as Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Solana&#8217;s SOL token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>).
Trump&#8217;s initial moves to cut regulations and form a digital assets working group were applauded. However, this recent move is seen as an overreach. The tech community had anticipated an exclusive strategic Bitcoin reserve, which would involve purchasing Bitcoin with cash, a decentralized currency seen as a viable alternative to hard money.
Tyler Winklevoss, co-founder of crypto exchange Gemini, stated, "I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve."&nbsp;Winklevoss had supported Trump during his election campaign.
Explaining the issue with other coins, &nbsp;Alexander Blume, CEO of Two Prime said, "They're not scarce in the same way and they're not decentralized in the same way. So it reduces the value and signal of creating a Bitcoin reserve.&#8221;
The decision to include riskier assets in the reserve has faced criticism. Detractors argue that this could potentially enhance&nbsp;the net worth of a&nbsp;select group of coin owners, using U.S. taxpayer money. This is particularly troubling to those who support Elon Musk&#8216;s mission to decrease government spending at the Department of Government Efficiency (DOGE).
Creator of blockchain startup Civic, Vinny Lingham wrote on X, "Call me old fashioned but I don't think the government should be pumping our crypto bags with taxpayer money while we are running a near $2trn deficit."
SEE ALSO: <a href="https://www.benzinga.com/25/03/44105530/tesla-introduces-0-apr-financing-on-model-3-purchases-to-check-falling-demand">Elon Musk&#8217;s Tesla Introduces 0% APR Financing On Model 3 Purchases Amid Falling Demand</a>
Why It Matters: Previously, analysts at Bernstein <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44077079/analysts-doubt-us-crypto-reserve-expansion-beyond-bitcoin-cite-funding-challenges">expressed doubts </a>about the U.S. expanding its crypto reserve beyond Bitcoin due to funding challenges, as reported. The rationale for including other assets remains unclear.
On the other hand, Strategy&#8217;s Michael Saylor told CNBC that it was no surprise that the reserve included other cryptocurrencies too. "There's no way to interpret this other than this is bullish for Bitcoin and bullish for the entire U.S. crypto industry," stated Saylor.
To add to the concerns, David Bailey, CEO of Bitcoin Magazine, revealed that <a href="https://www.benzinga.com/25/03/44100824/china-working-behind-closed-doors-to-create-strategic-bitcoin-reserve-says-bitcoiner-who-orange-pilled-trump">China was secretly </a>discussing&nbsp;the creation of a strategic&nbsp;Bitcoin reserve. This could potentially put the U.S. at a strategic disadvantage if it does not focus on Bitcoin.
After a weekend rally, crypto prices on Monday witnessed a significant decline. Bitcoin dropped about 9%, while Ether fell 15%. XRP and SOL also witnessed substantial drops. This decline is believed to be linked to President Trump&#8217;s confirmation of upcoming tariffs.
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump's Crypto Reserve Plan Sparks Backlash From Fans For Adding Ether, XRP, Solana, Cardano: 'Don't Think The Government Should Be Pumping Our Crypto Bags With Taxpayer Money'

Ben Zhou, the CEO of cryptocurrency exchange&nbsp;Bybit, has revealed that&nbsp;77% of the funds stolen&nbsp;in a record-breaking hack are still traceable.
What Happened: According to a post on X by Zhou today, the upcoming week is critical for securing the funds, as they will begin clearing through exchanges, OTC, and P2P channels. The hackers stole 417,348 Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), worth nearly $1 billion, which remains traceable on the blockchain despite being transferred through the privacy-focused THORChain, a decentralized platform built for exchanging assets across multiple blockchains. 
Nevertheless, 20% of the funds—approximately 79,655 ETH or $200 million—have become untraceable through ExCH. Zhou also stated that 3% of the hacked funds have been frozen.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="590" height="428" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04063123/image-1-3.png" alt="" class="wp-image-807886" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04063123/image-1-3.png 590w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04063123/image-1-3-300x218.png 300w" sizes="(max-width: 590px) 100vw, 590px" /></figure>
A smaller sum of 40,233 ETH, equivalent to $100 million, moved through OKX's Web3 proxy, but 23,553 ETH, valued at $65 million, remains untraceable. Zhou revealed that the hackers exchanged 83% of the stolen ETH for BTC through THORChain, distributing it across 6,954 wallets, with an average of 1.71 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) per wallet.
SEE ALSO: <a href="https://www.benzinga.com/25/03/44103584/plug-stock-drops-as-hydrogen-leader-struggles-with-margins-initiates-cost-reduction-plan">Plug Power Tightens Its Belt: Plans Massive Cost Cuts &amp; Cash Burn Control In New Strategy</a>
Why It Matters: The $1.4 billion Ethereum theft from Bybit has not only sent shockwaves through the market but also revived a long-standing contentious debate—implementing a hard fork to recover hacked funds. The enormity of the hack, considered the biggest in cryptocurrency history, and the involvement of North Korea&#8217;s state-backed Lazarus Group have motivated these demands. The scale of the hack highlights the growing risk of state-sponsored cybercrime and the urgent need for stronger security measures in the blockchain space.
Blockchain technologist Samson Mow argued that <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44038042/bybits-mega-ethereum-hack-sparks-hard-fork-divide-a-choice-between-preventing-kim-jong-uns-nuclear-ambitions-and-blockchain-immutability">rolling back the Ethereum</a> chain would hinder Kim Jong Un-ruled North Korea from using the funds to fund its nuclear weapons program. At the same time, Aneirin Flynn, co-founder and CEO of FailSafe, spoke with Benzinga about the Bybit exploit, <a href="https://www.benzinga.com/25/03/44067486/bybit-breach-is-a-wake-up-callsecurity-must-be-a-mindset-not-just-a-department-says-failsafes-aneirin-flynn">potential preventive strategies</a>, and why an Ethereum rollback isn&#8217;t a feasible solution.
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</ul>

Bybit CEO Says 77% Of Stolen $1.4 Billion Ethereum Still Traceable After Historic Hack: 'This And The Coming Week Is Critical'

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has announced that it has not sold any shares or bought additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the week from Feb. 24 to March 2, 2025. The company has also declared a quarterly cash dividend on its preferred stock.
What Happened: According to an SEC filing dated March 3, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and its subsidiaries currently hold around 499,096 Bitcoins, which were bought for a total of about $33.1 billion. This averages to roughly $66,357 per Bitcoin, including fees and expenses.
The company announced a quarterly cash dividend for its 8.00% Series A perpetual preferred stock, trading under the ticker symbol STRK on The Nasdaq Global Select Market. The dividend, nearly $1.24 per share, will be paid on March 31, to shareholders who are recorded as of the close of business on March 15.
Furthermore, Michael Saylor, co-founder and executive chairman of Strategy, predicted during an interview with CNBC on Monday that the market cap of Bitcoin would surge to $200 trillion. &#8220;Right now we're about $2 trillion in Bitcoin. It's going to $20 trillion, then it's going to $200 trillion, then it's growing 20% a year. And that capital is coming from overseas. It's coming from China, from Russia, from Europe, from Africa, from Asia,&#8221; stated Saylor.
SEE ALSO: <a href="https://www.benzinga.com/tech/25/03/44099748/tim-cook-says-theres-something-in-the-air-new-macbook-air-or-a-surprise-product-launch-on-the-cards">Tim Cook Says &#8216;There&#8217;s Something In The Air&#8217; — New MacBook Air Or A Surprise Product Launch On The Cards?</a>
Why It Matters: On Monday, Strategy&#8217;s shares saw a 12.6% rise <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44073346/mstr-stock-up-nearly-13-in-monday-pre-market-whats-going-on">in the pre-market </a>trading session, following a surge in Bitcoin&#8217;s value. This surge was triggered by President Donald Trump&#8216;s announcement of a U.S. strategic cryptocurrency reserve, wherein the President declared his preference for Bitcoin and Ethereum. The stock also surged after Saylor announced in a post on X that the company&#8217;s Bitcoin investments generated $2.6 billion in profits during the first two months of 2025.
Saylor hailed Trump&#8217;s plan as "a more liberal economic policy," and emphasized that a well-organized digital asset policy would foster economic growth and encourage innovation. 
Despite the pre-market rise, the stock ended 1.77% lower to close at 250.92 on Monday, as per <a href="https://www.benzinga.com/pro/">BenzingaPro</a>. 
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<li>READ MORE: <a href="https://www.benzinga.com/markets/equities/25/03/44079509/preparing-for-worse-doesnt-mean-dumping-stocks-investing-wisdom-from-market-guru-sam-ro">&#8220;Preparing For Worse Doesn&#8217;t Mean Dumping Stocks&#8221;: Investing Wisdom From Market Guru Sam Ro</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSTR Retains Bitcoin, Declares Preferred Dividend As Michael Saylor Predicts $200 Trillion Market Cap For Bitcoin

In the pre-market trading session on Monday, the shares of Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) climbed 12.6% following the surge in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This rally was triggered by President Donald Trump&#8217;s announcement of a U.S. strategic cryptocurrency reserve.
What Happened: Strategy Inc., a major corporate Bitcoin holder witnessed an increase in share price after the <a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-mon">cryptocurrency rebounded</a> from its dip below $80,000 on Friday, soaring beyond $95,000 on Sunday. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also witnessed significant gains, rising above $2,500, following a 31% drop in February.
The announcement of a strategic cryptocurrency reserve by Trump, made via his Truth social account, spurred this rally. Initially, the post referenced XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), leading to a surge in their prices. Later, Trump declared that Bitcoin and Ethereum would play a key role in the reserve, emphasizing his preference for these two assets.
Additionally, MSTR stock also climbed in today&#8217;s pre-market trading as Michael Saylor, co-founder and Executive Chairman of Strategy announced through a post on X that the company's Bitcoin investments yielded profits of $2.6 billion in the first two months of 2025.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="596" height="420" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/03064410/image-10.png" alt="" class="wp-image-805862" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/03064410/image-10.png 596w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/03064410/image-10-300x211.png 300w" sizes="(max-width: 596px) 100vw, 596px" /></figure>
SEE ALSO: <a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment">Mark Cuban Was Asked How He&#8217;d Invest $100K — His Answer? Buy Bulk Toothpaste And Soup For The &#8216;Best Guaranteed Return On Investment&#8217;</a>
Why It Matters: For the past few sessions, MSTR had been on a decline following the downturn in Bitcoin prices amid tariff woes. However, the surge in the cryptocurrency underpinned the stock&#8217;s growth today. 
Chris Kline, COO and Co-Founder of BitcoinIRA, told Benzinga that<a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month"> Trump&#8217;s announcement</a> could &#8220;fuel cryptocurrency prices overall headed into spring.&#8221; He predicted that Bitcoin could soon reach $100,000 again and possibly hit new all-time highs later this month if the positive momentum continues. Additionally, market strategist Tom Lee had expressed optimism about Bitcoin&#8217;s long-term prospects. In a <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44070486/bitcoin-will-surge-in-value-and-adoption-in-long-term-says-tom-lee-while-casting-doubt-on-near-term-performance-im-not-really-bearish-on-it-but">RiskReversal Podcast</a>, he stated that he expected the trust around Bitcoin to grow over the next five years.
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<li>READ MORE: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44069015/bitcoin-is-digital-gold-but-whats-the-rationale-for-an-xrp-reserve-asks-peter-schiff-cardano-founder-charles-hoskinson-says-trump-made-the-right-decision">Bitcoin Is Digital Gold But &#8216;What&#8217;s The Rationale For An XRP Reserve&#8217;, Asks Peter Schiff: Cardano Founder Charles Hoskinson Says Trump Made The Right Decision</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

MSTR Stock Up Nearly 13% In Monday Pre-Market: What's Going On?

President Donald Trump&nbsp;is set to host the inaugural cryptocurrency summit at the White House next Friday. This event marks a significant step in his administration&#8217;s engagement with the crypto industry.
What Happened:&nbsp;The summit will feature speeches from Trump and include key figures such as&nbsp;founders, CEOs, and investors from&nbsp;the cryptocurrency sector, along with members of the president&#8217;s Working Group on Digital Assets, according to a statement from the White House.
David Sacks, a venture capitalist and the White House&#8217;s crypto czar, will lead the event, with&nbsp;Bo Hines&nbsp;serving as the executive director.
Shortly after assuming office, Trump signed an executive order establishing a working group to advise on digital asset policy.
This group comprises the Treasury and Justice Departments, the Securities &amp; Exchange Commission (SEC,)&nbsp;and the Commodity Futures Trading&nbsp;Commission (CFTC.)
During his 2024 campaign, Trump pledged to streamline regulations and support a stablecoin framework, a promise that has yet to be fully realized.
The administration&#8217;s approach contrasts with the previous administration&#8217;s stringent regulatory stance following the collapse of the FTX exchange.
Trump&#8217;s involvement in the crypto space includes launching a memecoin and supporting World Liberty Financial,&nbsp;a project involving his sons.
Price Action: Reacting to the news, major cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and others surged.
BTC shot past the $85,000 mark, while Dogecoin surged more than 10% over the past 24 hours at the time of writing.
Why It Matters: The upcoming summit is pivotal as it comes amid a complex landscape for cryptocurrencies.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44041389/bitcoin-will-still-hit-500000-before-trump-leaves-office-standard-chartered-analyst-maintains">Geoff Kendrick</a>, Standard Chartered's Head of Digital Assets Research, recently expressed optimism about the crypto market&#8217;s medium-term prospects under Trump&#8217;s administration. He highlighted the removal of SAB 121, which has eased restrictions on U.S. financial institutions entering the crypto space.
However, the initial excitement surrounding Trump&#8217;s presidency and its potential deregulatory impact on the crypto industry has begun to wane. As discussed at a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44063764/cryptos-trump-era-honeymoon-fades-as-regulatory-reality-sets-in">Denarii Labs panel</a>, legal experts are questioning whether the administration can fulfill its blockchain promises or if international competitors will capitalize on the opportunity first.
Additionally, recent market volatility, such as&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43987636/bitcoin-tumbles-below-85000-amid-president-trumps-eu-tariff-threats">Bitcoin&#8217;s slide</a>&nbsp;below $85,000 following Trump&#8217;s EU tariff threats, underscores the challenges facing the crypto sector. The summit could provide clarity on the administration&#8217;s direction and its potential impact on the market.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created via photos on Shutterstock

$DOGE

Trump To Host First-Ever White House Crypto Summit Next Friday: BTC Surges Past $85,000, DOGE Surges Over 10%

The $1.4 billion Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) theft from cryptocurrency exchange Bybit has not only sent shockwaves through the market but also revived a long-standing contentious debate—implementing a hard fork to recover hacked funds.
The enormity of the hack, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">considered</a> the biggest in cryptocurrency history, and the involvement of North Korea's state-backed Lazarus Group have motivated these demands.
Blockchain technologist Samson Mow argued that rolling back the Ethereum chain would <a href="https://in.benzinga.com/25/02/43903598/bitcoin-enthusiast-proposes-ethereum-chain-rollback-post-14b-bybit-cyber-heist">hinder</a> Kim Jong Un-ruled North Korea from using the funds to fund its <a href="https://www.benzinga.com/news/24/10/41198689/north-korea-threatens-nuclear-war-but-souths-president-calls-it-a-bid-for-us-attention">nuclear weapons program</a>. 
However, several analysts that Benzinga spoke to said such a move would be detrimental to the network and the broader cryptocurrency industry.
<h2 class="wp-block-heading">&#8216;Hard Fork Could Trigger Exodus of Applications To Other Chains&#8217;</h2>
Kadan Stadelmann, blockchain developer and Chief Technology Officer of Komodo Platform, said that any rollback would end up causing "extensive ripple effects" for any individuals or companies using ETH as settlement
"In addition, it would be a big shock across the Dapp layer, potentially causing an exodus to other blockchains as developers lose confidence in the immutability of the Ethereum blockchain," Stadelmann emphasized.&nbsp;
A hard fork splits the blockchain into two separate versions, typically initiated after a significant security violation.&nbsp;
The most notable case was the $50 million <a href="https://www.benzinga.com/markets/cryptocurrency/22/02/25746078/this-austrian-programmer-was-behind-the-2016-dao-hack-that-defined-ethereums-history-says-">Decentralized Autonomous Organization hack</a> in 2016, which resulted in the creation of the new Ethereum blockchain as we know it today and the unaltered network known as Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>). The move helped confiscate the stolen funds and placed them in a new program.
See Also:<a href="https://www.benzinga.com/25/02/44032261/michael-saylor-advocates-for-us-leadership-in-bitcoin-and-crypto-to-house-financial-services-committee"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44033154/jamie-dimon-was-a-believer-in-smart-contract-cryptos-long-before-jpmorgan-started-piling-on-ethereum-etfs-heres-what-he-said">Jamie Dimon Was A Believer In Smart Contract Cryptos Long Before JPMorgan Hit The Buy Button On Ethereum ETFs: Here&#8217;s What The CEO Said</a>
<h2 class="wp-block-heading">The Difference Between DAO 2016 And Bybit 2025</h2>
"Ethereum is now roughly 300 times larger than it was in 2016—if the entire network forked around one hack, it would risk confidence and trust in the platform at large,&#8221; said Austin King, former Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) executive and CEO of Omni Labs.
Amir Forouzani, co-founder of Ethereum-based Puffer Labs, reiterated this sentiment, stating that many more decentralized exchanges, lending protocols, and stablecoins have been built atop Ethereum since the 2016 hack, and a hard fork would "heavily disrupt" these.
Indeed, Ethereum had a total value locked worth nearly $50 billion, <a href="https://defillama.com/chain/Ethereum">according</a> to DeFiLlama, making it the world's most valuable blockchain at the time of writing.&nbsp;
Forouzani also highlighted the scale difference between the two hacks. While the 2016 event led to the theft of nearly 5% of ETH's supply, the Bybit hack affected only 0.33% of the total supply. He said that had the hack been larger, different considerations might have come into play.
<h2 class="wp-block-heading">The Debate Around Immutability</h2>
One of the influential proponents of the idea of the rollback is Arthur Hayes, co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund.
"My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016, [why] not do it again?"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My own view as a mega <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> bag holder is <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016 y not do it again?
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1893070933482737805?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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However, Trever Koverko, Web3 investor and co-founder of Sapien, believed that immutability is a core principle of Ethereum, and reversing transactions will undermine trust and decentralization.&nbsp;
"Instead of rewriting history, the focus should be on stronger security practices and on-chain insurance solutions," Koverko suggested.
Price Action: At the time of writing, Ethereum was exchanging hands at $$2,111.37, down 9.74% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/02/44032261/michael-saylor-advocates-for-us-leadership-in-bitcoin-and-crypto-to-house-financial-services-committee">Michael Saylor Presents &#8216;Digital Assets Framework&#8217; To House Committe, Pitches For US Supremancy In Bitcoin, Crypto</a></li>
</ul>

$ETC

Bybit's Mega Ethereum Hack Sparks Hard Fork Divide—A Choice Between Preventing Kim Jong Un's Nuclear Ambitions And Blockchain Immutability?

The criminal entity that stole $1.4 billion worth of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) from cryptocurrency exchange Bybit has laundered roughly 30% of the hacked funds.
What happened: The hacker has washed about 145,065 ETH, worth $360.92 million, in five days since the hack, <a href="https://platform.spotonchain.ai/en/entity/2440">according</a> to data from Spot On Chain.
The hacker has been splitting the funds into smaller amounts across multiple addresses and using the liquidity protocol THORChain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/rune/usd">RUNE</a>) for cross-chain swaps into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other assets.
With over 354,330 ETH still in their possession, the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43906580/would-you-believe-it-bybit-hacker-now-holds-more-eth-than-vitalik-buterin-and-the-ethereum-foundation">scammer holds more </a>ETH than Vitalik Buterin, the blockchain's creator, and the Ethereum Foundation. 
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43931332/peter-schiff-questions-michael-saylor-led-strategys-leverage-bitcoin-play-amid-share-price-decline-massive-dilution-has-destroyed-shareholder-value">Peter Schiff Questions Michael Saylor-Led Strategy&#8217;s Leverage Bitcoin Play Amid MSTR Decline: &#8216;Massive Dilution Has Destroyed Shareholder Value&#8217;</a>
Widely followed on-chain analyst EmberCN said that at the current rate, the funds will be laundered in another 8-10 days.
&nbsp;Laundering is the process of concealing the origins of illegal money through transfers involving legitimate mediums. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bybit 黑客在过去 24 小时洗走了 4.59 万枚 ETH ($1.13 亿)。目前他们一共已经洗走了 13.5 万枚 ETH ($3.35 亿)，接近三分之一了。 现在 Bybit 黑客地址里还有 36.39 万枚 ETH ($9 亿)。以目前的频率只需要再有 8~10 天就洗完了。 本文由 <a href="https://twitter.com/hashtag/Bitget?src=hash&amp;ref_src=twsrc%5Etfw">#Bitget</a>｜<a href="https://twitter.com/Bitget_zh?ref_src=twsrc%5Etfw">@Bitget_zh</a> 赞助 <a href="https://t.co/nNwpWP0uEE">https://t.co/nNwpWP0uEE</a> <a href="https://t.co/tpIi3LD7FU">pic.twitter.com/tpIi3LD7FU</a>
&mdash; 余烬 (@EmberCN) <a href="https://twitter.com/EmberCN/status/1894561919010574773?ref_src=twsrc%5Etfw">February 26, 2025</a></blockquote>
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Why It Matters: The <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">massive breach</a>, allegedly carried out by North Korea&#8217;s notorious Lazarus Group, stunned the market, raising concerns about the safety of assets kept in exchange custody and a run on deposits.
While Bybit revealed that it <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43905078/bybit-nears-recovery-after-crypto-heist-freezes-42-89-million-in-stolen-funds-secures-1-23-billion-in-eth-through-whales-and-loans">"fully closed" the ETH gap</a>, returning to a 1:1 backing of its client assets, the likelihood of a massive dump of the hacked funds shook the markets. 
Price Action: At the time of writing, Ethereum was exchanging hands at $2,483.25 down 7.68% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Since the hack, the second-largest cryptocurrency has fallen over 12%.
Photo Courtesy: Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/02/43931639/riot-platforms-ceo-reaffirms-plan-to-boost-bitcoin-yield-but-not-looking-too-closely-at-strategys-maneuvers">Riot Platforms CEO Reaffirms Plan To Boost Bitcoin Yield But &#8216;Not Looking Too Closely&#8217; At Michael Saylor-Led Strategy&#8217;s Maneuvers</a></li>
</ul>

$RUNE

Bybit Hacker Launders Nearly 30% Of Hacked $1.4 Billion ETH In 5 Days — Needs Only 8-10 Days To Finish The Job

The cryptocurrency market encountered headwinds last week, although a few under-the-radar coins notched up significant gains.&nbsp;
What happened: IP, the native token of Layer-1 blockchain Story, powered above the rest of the market with a whopping 138% jump last week.&nbsp;
Launched just 10 days ago, the token spawned a billion-dollar valuation last week, cruising to a peak value of $7.11.
The blockchain project helps creators register, license, and monetize their intellectual property assets, with IP used for paying transaction fees.
S, the native token of the high-speed blockchain platform Sonic, came a distant second, surging 58% over the week. The coin has been on an upward curve in February, up over 56% over the last month.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based MKR token, serving as the utility and governance token of stablecoin issuing protocol Maker, rallied 53% to become the third-most successful coin last week.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price&nbsp;</td>
</tr>
<tr>
<td>Story (IP)</td>
<td>+138.85%</td>
<td>$3.96</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+58.32%</td>
<td>$0.865</td>
</tr>
<tr>
<td>Maker (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/mkr/usd">MKR</a>)</td>
<td>+53.28%</td>
<td>$1,536</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Market barometer Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) contracted 0.83%, while ETH eked out a gain of 1.69%.&nbsp;
Other large-cap currencies like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) bled 13.57% and 8.56%, respectively. XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) also slipped 3.71%.
Popular meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) were also hit by the bearish wave, slumping 12.50% and 6.52%, respectively.&nbsp;
The sentiment was majorly hit by the massive $1.4 billion ETH hack on cryptocurrency exchange Bybit, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">allegedly executed</a> by North Korean state-backed actors.
Overall, the total cryptocurrency market capitalization contracted 1.8% over the week to $3.13 trillion.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

$MKR

$SHIB

Bitcoin, Dogecoin Stumble, But This New Crypto Skyrockets 140% In A Week

Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) recent weekend pump to $2,826 sparked hopes of a sustained rally. But the <a href="https://www.benzinga.com/money/ethereum-eth-price-predictions">optimism was short-lived</a>.
What Happened: A quick retrace to $2,700 left traders questioning whether the uptrend is merely delayed or if Ethereum remains vulnerable.  
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,677.31</td>
<td>$322.7 billion</td>
<td>-4.4%&nbsp;</td>
<td>&nbsp;+0.8%</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$95,415.78</td>
<td>$1.89 trillion</td>
<td>-0.9%</td>
<td>-1.6%&nbsp;</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>&nbsp;$2.55</td>
<td>$147.9 billion</td>
<td>-4.6%&nbsp;</td>
<td>+3.6%&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Crypto trader Michael van de Poppe commented that Ethereum's failure to close above key levels means the "party got delayed" and expects another test of the lows before a potential move higher.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Seems like the party got delayed. Daily couldn&#39;t close above the crucial area for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. Another test of the lows before rotating upwards? <a href="https://t.co/zHplZBHyPo">pic.twitter.com/zHplZBHyPo</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1891791518102384981?ref_src=twsrc%5Etfw">February 18, 2025</a></blockquote>
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Santiment <a href="https://x.com/santimentfeed/status/1891625787620577568">data</a> shows Ethereum supply on exchanges dropped to a record low of 6.38%, signaling long-term accumulation. Community interest has risen in February, with traders anticipating a recovery after ETH underperformed against large caps in 2024.
Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1891770650814976112">observed</a> that ETH has fully retraced in both price and open interest, shedding most of the $1.5 billion added during the pump. He warns that aggressive long positioning on small green days is unsustainable without stronger spot demand—which is currently lacking.
Statistics: Industry expert Quinten <a href="https://x.com/QuintenFrancois/status/1891751960107192496">highlighted</a> that Ethereum whale holdings (10,000 to 100,000 ETH) have surged from 3,400 in January to over 4,000 currently, per CryptoQuant.
IntoTheBlock data shows Ethereum large transaction volume expanded by 83.3% and exchanges netflows by 815.2% in a single day. Daily active addresses dropped by 1.7%. Transactions greater than $100,000 surged from 3,711 to 6,682.
Glassnode <a href="https://x.com/glassnode/status/1891487193140543632">data </a>shows U.S. Spot Ethereum ETFs saw net inflows of 145,000 ETH in February—nearly 7x the total inflows of January.
Coinglass data shows Ethereum open interest spiked to $24.4 billion, highest since Feb 4. In the past 24 hours, Ethereum liquidations stood at $48.5 million.
Community News: Asset manager Brevan Howard Digital's Abu Dhabi branch allocated $20 million to Kinto, an Ethereum layer-2 platform with built-in compliance mechanisms, CoinDesk <a href="https://x.com/CoinDesk/status/1891493268807885136">reported</a>.
Also, Ethereum's <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43763591/ethereum-slashes-fees-by-70-ahead-of-pectra-fusakas-april-rollout">network fees dropped by 70%</a> over the past week, ahead of Pectra and Fusaka upgrades in April 2025.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43693232/could-ethereum-finally-see-a-god-candle-thanks-to-staking-etfs">Could Ethereum Finally See A &#8216;God Candle&#8217; Thanks To Staking ETFs?</a></li>
</ul>
Image: Shutterstock

Ethereum Struggles To Hold $2,700: Is The Rally Just Delayed?

Whales collected hundreds of millions of dollars in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), capitalizing on the world&#8217;s second-largest cryptocurrency&#8217;s subdued rates.
What Happened: Two substantial Ethereum withdrawals from cryptocurrency exchanges were reported by on-chain tracking platform Lookonchain in a Monday X post.
The first withdrawal involved 56,909 ETH, worth 151.6 million, from Binance, while the second whale accumulated a combined 64,603 ETH, valued at $171.8 million, from Binance and Bitfinex. Both transactions occurred within a 48-hour window.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It seems that whales are accumulating <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>! 0xb99a&#8230;BcF5 withdrew 56,909 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($151.6M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 4 hours ago. 0xEd0C&#8230;4312 withdrew 64,603 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($171.8M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw">#Bitfinex</a> in the past 48 hours.<a href="https://t.co/hLMs0ziEUI">https://t.co/hLMs0ziEUI</a><a href="https://t.co/TXrSYqOSKQ">https://t.co/TXrSYqOSKQ</a> <a href="https://t.co/a6Oe20q946">pic.twitter.com/a6Oe20q946</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1889169910032650631?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
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These withdrawals were part of a market-wide phenomenon, as Ethereum recorded net exchange outflows of over $51 million in the last 24 hours, <a href="https://app.intotheblock.com/?end_offset=20">according </a>to data from IntoTheBlock. Typically, when more funds exit exchanges than they enter, it suggests a bullish outlook. 
Additionally, a 16% jump in transactions valued over $100,000 indicated a renewed interest among whale investors in accumulating ETH.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
Why It Matters: The accumulation by large investors comes at a time when Wall Street hedge funds <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43586765/wall-streets-ethereum-short-positioning-skyrockets-the-extreme-positioning-has-caused-eth-to-underperform-bitcoin-says-analyst">have been increasingly betting against ETH</a>. A report suggested that the short positioning has surged by 40% in a week&#8217;s time and 500% since November. 
ETH was also the least popular of the three largest cryptocurrencies, <a href="https://trends.google.com/trends/explore?date=today%201-m&amp;geo=US&amp;q=ethereum,XRP,Bitcoin&amp;hl=en">according </a>to Google Trends data, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) generating much higher search interest.
Interestingly, Eric Trump, President Donald Trump&#8217;s son, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">suggested last week on X</a> that "it's a great time to add ETH," potentially influencing decisions of certain players.
Price Action: At the time of writing, Ethereum was exchanging hands at $2,716.83, up 3.25% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the coin has endured losses of over 18%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>

Movers

Trading Ideas

Week After Eric Trump Said 'Great Time To Add ETH,' Whales Stock Up Over $300 Million In Ethereum — What's Cooking

Cryptocurrencies themed on video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) were up in the green Monday, buoyed by interest in CEO Ryan Cohen&#8217;s picture with Strategy co-founder Michael Saylor.&nbsp;
What happened: Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based GameStop soared nearly 50% in the last 24 hours, with its trading volume surging by 37% to $1.83 million, <a href="https://coinmarketcap.com/currencies/gamestop/">according</a> to CoinMarketCap.&nbsp;&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. ET)</td>
</tr>
<tr>
<td>GameStop (GME)</td>
<td>+49.52%</td>
<td>$0.0001924</td>
</tr>
<tr>
<td>GmeStop (GME)</td>
<td>+3.54%</td>
<td>$0.001948</td>
</tr>
</tbody>
</table>
</figure>
The rise alleviated some of the coin&#8217;s problems, which had lost more than 33% over the last month.
Similarly, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based GmeStop, with a much lower market capitalization, rose over 3% in the last 24 hours.&nbsp;
It's worth noting that these coins aren&#8217;t directly tied to GameStop but rather seek to capitalize on the hype surrounding the meme stock.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43584910/man-who-accidentally-lost-his-775-million-bitcoin-stash-expresses-desire-to-buy-the-landfill-site">Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap</a>
The uptick comes after <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43605313/gamestop-stock-is-surging-monday-whats-going-on">Cohen posted a picture with Saylor</a> on X over the weekend, spurring speculations that the company could be leaning toward Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investments.
Strategy, formerly known as MicroStrategy, is the largest corporate holder of Bitcoin, and Saylor is known for consistently <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43583287/michael-saylor-declares-death-to-blue-lines-long-live-green-dots-is-strategys-btc-purchase-streak-about-to-resume">pushing for the asset's adoption</a>.&nbsp;
GameStop has been one of the most popular retail stocks in the last few years, helped by the historic 2021 meme stock craze that saw the stock squeeze higher. Keith Gill, also known as <a href="https://www.benzinga.com/topic/roaring-kitty">&#8220;Roaring Kitty,"</a> has been influencing GameStop price action with cryptic posts on X.
Price Action: Shares of GameStop soared 9.66% to $27.12 during Monday&#8217;s regular session and were up 0.99% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo by Igor Faun on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43581896/analyst-who-nailed-2021-crypto-collapse-now-says-worst-of-bitcoin-could-come-in-next-few-weeks">Analyst Who Nailed 2021 Crypto Collapse Now Says Worst Of Bitcoin Could Come In Next Few Weeks</a></li>
</ul>

GameStop-Themed Crypto Rallies 50% After Ryan Cohen Posts Intriguing Photo With Bitcoin Bull Michael Saylor

The cryptocurrency market saw multiple headwinds last week, resulting in a large decline in market value. However, a few coins overcame the slump to post significant gains.
What happened: HYPE, the native token of the decentralized exchange Hyperliquid, topped the biggest gainers list, rallying 7.5% over the week. The coin accumulated massive gains of 586% over the last year
Hyperliquid is a decentralized trading platform that utilizes its own Layer-1 blockchain.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based DEXE token was the second-highest gainer, marginally trailing HYPE in weekly returns. Like HYPE, DEXE was coming off a successful 2024, with a 625% increase over the year.
DeXe is the governance token of the DeXe Protocol—a tool used for creating and governing decentralized autonomous organizations.&nbsp;
Similarly, OM, the token associated with the layer-1 blockchain MANTRA, rallied over 6% to become the third-most cryptocurrency in the last 24 hours. The cryptocurrency hit a record high of $5.87 last week and is one of the few to record sizable year-to-date gains, at nearly 29%.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price</td>
</tr>
<tr>
<td>Hyperliquid (HYPE)</td>
<td>+7.56%</td>
<td>$22.58</td>
</tr>
<tr>
<td>DeXe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">DEXE</a>)</td>
<td>+7.41%</td>
<td>$21.22</td>
</tr>
<tr>
<td>MANTRA (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/om/usd">OM</a>)</td>
<td>+6.28%</td>
<td>$4.97</td>
</tr>
</tbody>
</table>
</figure>
Elsewhere, the market didn't paint a rosy picture. Blue-chip coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) sank 7.11% and 20.56%, respectively.
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">Elon Musk Says Treasury Officials &#8216;Breaking The Law Every Hour&#8217; By Approving Fraudulent Payments — DOGE Lead Wants A Blockchain Fix</a>
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) also corrected sharply on Sunday, bringing their weekly losses to 26.56% and 15.25%.
Meme coin heavyweights also bled profusely, with Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) falling 28.93% and 19.65%, respectively.
Two significant events jolted capital markets last week. First, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43248978/could-bitcoin-see-a-deeper-dip-on-the-deepseek-ai-shock">China&#8217;s groundbreaking AI</a> model DeepSeek threatened the supremacy of U.S.-based IT behemoths, and second, President Donald Trump&#8217;s <a href="https://www.benzinga.com/news/global/25/02/43423781/trumps-trade-tariffs-to-close-e-commerce-loophole-favoring-chinese-online-retailers">tariff conflict</a> with neighboring countries such as Canada and Mexico.
Overall, the total cryptocurrency market capitalization fell 11.66% over the week to $3.03 trillion.
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43423466/how-does-pete-hegseth-feel-about-bitcoin-his-financial-filings-reveal-the-answer">How Does Pete Hegseth Feel About Bitcoin? His Financial Filings Reveal The Answer</a></li>
</ul>

$DEXE

Bitcoin, Dogecoin Ended Last Week On A Gloomy Note But These Coins Remained Resilient

January was a month of significant development in the cryptocurrency space. A meme coin directly linked to the president of the U.S. was launched and quickly became a big talking point worldwide, running into billions of dollars in capitalization on the way.
However, despite the frenzy and impressive returns, the Official Trump coin was not the most profitable cryptocurrency this month. Onyxcoin stole the limelight.
What happened: The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&#8211;based token exploded nearly 1400% in January, topping the monthly gainers list for the month.
XCN crossed a billion dollars in market capitalization on Jan. 26,&nbsp; a dramatic increase from a little over $70 million at the beginning of the year. Such values were last seen more than two years ago in Nov. 2022.
XCN, the governance and utility token of the Web3 protocol Onyx, skyrocketed following the resolution of a long-standing <a href="https://x.com/OnyxDAO/status/1882862572254441640?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1882862572254441640%7Ctwgr%5Ec104b2f2f91af9c920980c0171540a84faa24564%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.coinspeaker.com%2Fsleeping-giant-onyxcoin-xcn-awakens-with-massive-800-price-surge-over-two-weeks%2F">issue</a> with Justin Sun, founder of the Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Monthly Gains +/-</td>
<td>Price (Recorded on Jan. 31, 1:30 a.m ET)</td>
</tr>
<tr>
<td>Onyxcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XCN</a>)</td>
<td>+1397.22%</td>
<td>$0.03445</td>
</tr>
<tr>
<td>Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td>
<td>+296.09%</td>
<td>$25.69</td>
</tr>
<tr>
<td>Raydium (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RAY</a>)</td>
<td>+54.39%</td>
<td>$7.53</td>
</tr>
</tbody>
</table>
</figure>
The TRUMP meme coin took the second spot, clocking a fourfold jump since it was launched two weeks ago, just ahead of Trump's presidential inauguration.&nbsp;
The token <a href="https://www.benzinga.com/25/01/43257114/donald-and-melania-trump-memecoins-defy-market-lull-with-rallyanalyst-says-trump-bottomed-out-at-25">reached a fully diluted valuation</a> of $75 billion shortly after its debut but has since plummeted over 65%.&nbsp;
Entities affiliated with The Trump Organization control 80% of the coin&#8217;s supply, fueling speculation that the president is personally profiting from the market moves. The coin has a 20% supply open for public trading.&nbsp;&nbsp;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>&nbsp;
Alongside, XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) made notable advances, at 46.13% and 23.38%, respectively.
A new-look SEC, under a cryptocurrency-friendly administration, roused XRP investors, as the coin, once mired in legal squabbles, <a href="https://www.benzinga.com/25/01/43019913/xrp-soars-to-a-7-year-high-becomes-third-most-valued-crypto-even-as-sec-files-appeal-challenging-2023-verdict-in-ripple-labs-case">ascended to become the market&#8217;s third-largest cryptocurrency</a>.
LTC reacted to the <a href="https://in.benzinga.com/trading-ideas/movers/25/01/43328116/litecoin-spikes-over-11-after-sec-acknowledges-etf-filing-market-regulator-says-ltc-very-similar-to-bitcoin">progress on its exchange-traded fund application</a>, with analysts predicting that the next Wall Street cryptocurrency ETF will be tied to the proof-of-work coin.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 11% in January, while Ethereum fell by 2.26%.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43326463/former-senator-bob-menendez-who-said-bitcoin-will-open-doors-of-corruption-in-el-salvador-gets-11-year-jail-term-for-accepting-bribes">Former Senator Bob Menendez Who Said &#8216;Bitcoin Will Open Doors Of Corruption In El Salvador&#8217; Gets 11-Year Jail Term For Accepting Bribes</a></li>
</ul>

$LTC

$RAY

$TRX

$XCN

Not Trump Coin But This Token With A Whopping 1400% Rally Was The January Chart Topper

BitMEX co-founder Arthur Hayes forecasts a significant correction in Bitcoin&#8217;s (CRYPO: BTC) price to $70,000-$75,000, followed by a potential surge to $250,000 by year-end, amid growing market volatility and concerns of a &#8220;mini financial crisis.&#8221;
What Happened: Hayes, who shared his outlook on X on Monday, plans to detail his analysis in a forthcoming essay series titled &#8220;The Good, The Bad, The Ugly.&#8221; The prediction comes as Bitcoin trades near $98,917, down 3.76% in the last 24 hours, following a sharp decline from recent highs above $105,000.
The cryptocurrency market has seen substantial liquidations, with approximately $400 million wiped out in just four hours of trading on Sunday evening. Long positions <a href="https://www.benzinga.com/25/01/43220101/bitcoin-ethereum-dogecoin-plummet-alongside-stock-futures-amid-trumps-tariff-war-deepseek-hype-top-trader-predicts-bitcoins-upside-to-122000">accounted for $389 million of these liquidations</a>, suggesting growing bearish sentiment among traders.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Reversing the order of my tryptic essay series. The Ugly will be published tomorrow morning. I am calling for a $70k to $75k correction in <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year. <a href="https://t.co/XxT4VFyzu4">pic.twitter.com/XxT4VFyzu4</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1883682062647038370?ref_src=twsrc%5Etfw">January 27, 2025</a></blockquote>
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I will drop a new tryptic essay series &quot;The Good, The Bad, The Ugly&quot; over the next eight weeks. So much to discuss I had to split it up. The Good &#8211; The impact of political memecoins The Bad &#8211; US crypto is at risk of getting cucked The Ugly &#8211; A Q1 market crash
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1882579082204053680?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/25/01/43221328/jd-vance-prices-are-going-to-come-down-but-its-going-to-take-time-as-trumps-energy-policies-start-to-take-effect">JD Vance: &#8216;Prices Are Going To Come Down, But It&#8217;s Going To Take Time,&#8217; As Trump&#8217;s Energy Policies Start To Take Effect</a>
Why It Matters: Technical analysts remain divided on Bitcoin&#8217;s trajectory. Cryptocurrency analyst Ali Martinez points to the invalidation of a head-and-shoulders pattern, suggesting a potential upside target of $122,000. Meanwhile, cryptocurrency chartist Rekt Capital emphasizes the significance of Bitcoin&#8217;s recent weekly closes above <a href="https://www.benzinga.com/25/01/43220101/bitcoin-ethereum-dogecoin-plummet-alongside-stock-futures-amid-trumps-tariff-war-deepseek-hype-top-trader-predicts-bitcoins-upside-to-122000">major resistance levels</a>, historically a precursor to new all-time highs.
Major cryptocurrencies including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) have also experienced significant declines, falling 5.60% and 7.50% in the last 24 hours, respectively.
This market volatility coincides with wider economic factors, including President Donald Trump&#8216;s new tariffs on imports and anticipation of the Federal Reserve&#8217;s upcoming meeting. The CME FedWatch tool indicates a 99.5% probability that interest rates will remain unchanged at Wednesday&#8217;s meeting.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43220029/bill-gates-says-he-supports-doge-department-but-doesnt-want-elon-musk-to-cut-off-certain-funding-the-deficit-needs-to-be-brought-down">Bill Gates Says He Supports DOGE Department, But Doesn&#8217;t Want Elon Musk To Cut Off Certain Funding: &#8216;The Deficit Needs To Be Brought Down&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'Mini Financial Crisis' For Crypto Incoming? Arthur Hayes Predicts Bitcoin Dropping To $75K Before Skyrocketing To $250K By Year-End

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot <a href="https://www.benzinga.com/etfs">ETFs</a> registered inflows of $3.26 billion and $74.43 million, respectively, over the past four days.
The surge comes despite President Donald Trump&#8216;s unexpected omission of crypto-talk in his inauguration speech and the following volatility in the cryptocurrency market.
The record inflow occurred on Jan. 17, Sosovalue data shows. Some $1.08 billion flowed into various Bitcoin funds. On Jan. 21, the inflows were $802.5 million. 
<h3 class="wp-block-heading">Bitcoin ETFs</h3>
<ul>
<li>BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) gained the most with $661.86 million net inflows.</li>
<li>Grayscale&#8217;s Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>) saw an inflow of $136.39 million</li>
<li>ARK 21Shares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#NYSE">ARKB</a>) brought in $8.51 million.</li>
<li>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) attracted $6.97 million.</li>
</ul>
Only Bitwise&#8217;s Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) experienced an outflow for the day, with the fund losing $17.41 million. 
Bitcoin spot ETFs collectively manage $123.59 billion net asset value. That&#8217;s equal to about 5.88% of Bitcoin&#8217;s total market value.
See Also: <a href="https://www.benzinga.com/etfs/new-etfs/25/01/43129309/new-bond-etf-aims-for-high-income-through-flexible-multi-asset-strategy">New Bond ETF Aims For High Income Through Flexible Multi-Asset Strategy</a>
<h3 class="wp-block-heading">Ethereum ETFs</h3>
<ul>
<li>BlackRock&#8217;s iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) led the way with $56.31 million. </li>
<li>Grayscale&#8217;s Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) fund brought in $12.49 million</li>
<li>VanEck Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ETHV#BATS">ETHV</a>) attracted $3.65 million</li>
<li>Fidelity&#8217;s Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>) gained $3.32 million.</li>
</ul>
Overall, nine spot Ether ETFs now manage $12.07 billion in assets, which is equivalent to about 3% of Ether&#8217;s market capitalization.
Trump&#8217;s reticence on cryptocurrency at his inauguration was blamed for Bitcoin falling from $106,000 before the president&#8217;s address to $101,000 during the speech, It&#8217;s currently hovering at around $104,000. 
Solana was also under pressure and fell almost 10% from its all-time high. Investors may be betting on the long-term vision of the future of crypto and taking this as an opportunity to enter the crypto world.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/43135764/trumps-500-billion-stargate-ai-plan-puts-3-etfs-in-focus">Trump's $500 Billion Stargate AI Plan Puts 3 ETFs In Focus</a></li>
</ul>
Photo: Shutterstock

Bitcoin, Ethereum ETFs Attract Record Inflows Despite Market Volatility, Policy Uncertainty

A popular cryptocurrency analyst expressed concerns over Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) underwhelming performance and assessed its future prospects on Monday.
What Happened:&nbsp;In a series of X posts, Ali Martinez, known for identifying chart patterns and issuing price predictions, called Ethereum one of the &#8220;weakest&#8221; performers in the cryptocurrency market in recent days.
The concerns were not unfounded. The second-largest cryptocurrency has dropped about 2.5% in value since 2025 began, as opposed to the gains accumulated by other large-cap coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>).
Martinez noted that Ethereum&#8217;s network adoption has slowed down considerably, with the number of new ETH addresses declining by 9.32% over the past week. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has been one of the weakest performers lately, and even <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a> has decided to shake things up by changing the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> Foundation&#39;s leadership team. But is it time to give up on <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a>? Let's take a closer look &#x1f447;&#x1f9f5;
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881338324696330747?ref_src=twsrc%5Etfw">January 20, 2025</a></blockquote>
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The analyst also noted Ethereum&#8217;s historical tendency to perform well in the first quarter. On average, the second-largest cryptocurrency gains 82% in this period, <a href="https://www.coinglass.com/today">according </a>to data from Coinglass.
The historical success possibly justified large whale accumulations totaling over a billion in the last week, Martinez stated, citing on-chain data. Additionally, roughly $2 billion worth of ETH was withdrawn from cryptocurrency exchanges over the last month, suggesting significant buying demand.
For the sentiment to flip bullish, Martinez said that ETH must break crucial resistance levels, with the $3,360–$3,450 zone acting as a major barrier. 
He also noted the formation of an inverse head and shoulders pattern, breaking from which could potentially send the coin to $7,000.
Note that the inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Why It Matters:&nbsp;Martinez&#8217;s observations coincided with&nbsp;<a href="https://www.benzinga.com/25/01/43088676/trump-backed-world-liberty-financial-bags-47-million-each-of-ethereum-wrapped-bitcoin-to-honor-the-new-president">World Liberty Financial&#8217;s acquisition</a>&nbsp;of $47 million worth of ETH. The President Donald Trump-backed cryptocurrency project now has total ETH holdings worth over $185 million, making it one of the largest holders of the cryptocurrency.
Meanwhile, Ethereum faltered amid a <a href="https://www.benzinga.com/25/01/43088034/bitcoin-ethereum-dogecoin-retrace-from-pre-inauguration-highs-as-trumps-address-disappoints-analyst-highlights-possibility-of-btc-consolidation-in-101k-106k-range">broader market slump</a> as President Trump made no mention of cryptocurrency in his inauguration address. 
The snub might have come as unexpected for many cryptocurrency enthusiasts since various reports building up to the swearing-in anticipated <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">major cryptocurrency reforms</a> on Day 1 of Trump&#8217;s tenure.
Price Action: At the time of writing, Ethereum was exchanging hands at $$3,251.53, down 4.56% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Image via Shutterstock

Ethereum's 'Weak' Momentum Disappoints Top Analyst, But He Doesn't Rule Out A Rally To $7,000: Here's Why

Press Releases

General

World's Lowest Fee Bitcoin and Ether ETPs (Ticker: BTC, Ticker: ETH) Garner $750,000,000 Inflows in First Three Months of Trading

Dividends

Grayscale Investments® Announces Intention to Effect Reverse Share Splits for Grayscale® Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale® Ethereum Mini Trust ETF (Ticker: ETH)

Grayscale Investments® Announces Completion of Reverse Share Splits for Grayscale® Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale® Ethereum Mini Trust ETF (Ticker: ETH)

GBTC

Common units of fractional undivided beneficial interest

비트코인(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)과 이더리움(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) 현물 <a href="https://www.benzinga.com/etfs" target="_blank" rel="noopener">ETF</a>는 지난 4일 동안 각각 32억 6천만 달러와 7,443만 달러의 유입을 기록했다. 이러한 급격한 유입은 도널드 트럼프 대통령이 취임 연설에서 암호화폐 언급을 생략한 이후 암호화폐 시장의 변동성이 커졌음에도 불구하고 발생했다.
소소밸류(Sosovalue) 데이터에 따르면 기록적인 ETF로의 자금 유입은 1월 17일에 발생했다. 약 10억 8천만 달러가 다양한 비트코인 펀드로 유입되었다. 또한 1월 21일에는 8억 2,250만 달러가 유입되었다.
<h3 class="wp-block-heading">비트코인 ETF</h3>
<ul>
<li>블랙록의 iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>): 최대 순 유입액 6억 6,186만 달러 기록</li>
<li>그레이스케일의 Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>): 1억 3,639만 달러 유입</li>
<li>ARK 21Shares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#NYSE">ARKB</a>): 851만 달러 유입</li>
<li>Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>): 697만 달러 유입</li>
</ul>
이러한 추세와는 다르게 Bitwise의 Bitcoin ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>)에서는 이날 1,741만 달러의 자금이 유출되었다.
비트코인 현물 ETF는 총 1,359억 달러의 순자산 가치를 관리하고 있으며, 비트코인 전체 시장 가치의 약 5.88%에 해당하는 금액이다.
<h3 class="wp-block-heading">이더리움 ETF</h3>
<ul>
<li>블랙록의 iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>): 최대 순 유입액 5,631만 달러 기록</li>
<li>그레이스케일의 Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>): 1,249만 달러 유입</li>
<li>VanEck Ethereum ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ETHV#BATS">ETHV</a>): 365만 달러 유입</li>
<li>Fidelity의 Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>): 332만 달러 유입</li>
</ul>
현재 9개의 이더리움 현물 ETF가 120억 7천만 달러의 자산을 관리하고 있으며, 이는 이더리움 시가총액의 약 3%에 해당한다.
트럼프 대통령이 취임 연설에서 암호화폐에 대한 언급을 자제하면서 비트코인은 연설 전 106,000달러에서 연설 중 101,000달러까지 하락했고, 현재 104,000달러를 기록하고 있다.
솔라나 역시 압박을 받아 사상 최고치에서 거의 10% 하락했다. 투자자들은 암호화폐의 미래에 대한 장기적인 비전에 베팅하고 이를 암호화폐 세계로 진입할 기회로 삼고 있을 수 있다.
사진 출처: Shutterstock
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화요일(10일)에 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)CEO인 데이비드 솔로몬은 더 많은 규제 명확성이 제공된다면 골드만삭스가 주요 암호화폐의 현물 시장을 만드는 방법을 모색할 수 있다고 말했다.
무슨 일 있었나: 데이비드 솔로몬은 &#8216;로이터 NEXT 행사&#8217;에서 규제 관점에서 볼 때 비트코인(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)과 이더리움(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)의 현물 거래에 참여하는 골드만삭스의 능력이 "매우 제한적"이라고 했다.
"규제 당국에 물어봐야 한다. 왜냐하면 현재 규제 대상 은행 기관으로서 우리는 비트코인과 같은 암호화폐를 주체로 소유할 수 없기 때문이다.&#8221;
솔로몬은 도널드 트럼프 행정부 출범 이후 디지털 자산에 대한 규제 체계가 발전할 것이라는 광범위한 정서를 인정하면서도, 그 발전 방향이 아직 "불분명"하다고 덧붙였다. 그러나 규제 체계가 바뀌면 비트코인과 이더리움 시장 진입을 "평가"할 것이라고 말했다.
"규제 관점에서 볼 때 우리가 암호화폐 자산과 상호 작용할 수만 있다면, 우리는 꽤 큰 인프라를 가지고 있다."
이 기사도 읽어보세요: <a href="https://kr.benzinga.com/news/usa/stocks/%EA%B2%8C%EB%A6%AC-%EB%B8%94%EB%9E%99-gm%EC%9D%80-%EB%A1%9C%EB%B3%B4%ED%83%9D%EC%8B%9C-%ED%8F%AC%EA%B8%B0%EB%A1%9C-%EC%97%B0-10%EC%96%B5-%EB%8B%AC%EB%9F%AC-%EC%A0%88%EC%95%BD-%ED%85%8C%EC%8A%AC/" target="_blank" rel="noopener">게리 블랙 &#8220;GM은 로보택시 포기로 연 10억 달러 절약, 테슬라 FSD 라이선스의 길 열릴 것&#8221;</a>
왜 중요한가: 골드만삭스는 올해부터 비트코인과 이더리움과 연계된 <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b" target="_blank" rel="noopener">현물 교환 거래 펀드</a>에 투자하기 시작했으며, 최근 13F 서류를 통해 상당한 포지션이 공개되었다.
골드만삭스는 여러 비트코인 ETF에 7억 1천만 달러를 투자했으며, iShares Bitcoin Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>)에 1,270만 주를 4억 6,100만 달러에 매입했다고 밝혔다.
또한 Grayscale Ethereum Mini Trust(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>)와 Fidelity Ethereum Fund(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>)에 나누어 2,516만 달러를 이더리움 ETF에 보유하고 있다.
그리고 골드만삭스는 <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42047066/goldman-sachs-to-spin-out-digital-assets-platform-amid-blockchain-push" target="_blank" rel="noopener">블록체인 사업에 큰 투자를 하고</a> 있으며, 향후 12~18개월 내에 디지털 자산 플랫폼을 독립적인 회사로 분사할 계획다.
골드만삭스 주가 움직임: <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noopener">Benzinga Pro 데이터에 따르면</a>, 골드만삭스의 주가는 화요일 정규장에서 1.53% 하락한 후 시간외 거래에서 0.19% 상승했다.
다른 트레이더들보다 30분 일찍 시장 움직임에 대한 독점 뉴스를 받아보세요.
Benzinga Pro의 독점 뉴스를 통해 수백만 명의 다른 트레이더보다 더 빠르게 유용한 투자 뉴스를 확인할 수 있습니다. <a href="https://www.benzinga.com/pro/register?t=be2bewe5mibe3bz3&amp;utm_source=bz-kor" target="_blank" rel="noopener">여기를 클릭</a>하여 14일 무료 체험을 시작하세요.

최근 증권거래위원회(SEC)에 제출된 13F 공시에 따르면, 글로벌 투자은행들이 암호화폐 관련 상장지수펀드(ETF)와 비트코인 대리 종목인 마이크로스트레티지에 대해 상당한 지분을 보유하고 있다는 사실이 밝혀졌다.
<h3>JP모건 체이스</h3>
시가총액 기준 세계 최대 은행인 JP모건 체이스는 9월 30일 마감 분기에 비트코인과 이더리움 ETF에 상당한 투자를 했다.
JP모건은 iShares Bitcoin Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) 387주를 13,982달러에 매입했는데, 이는 지난 분기에 모두 매도한 후 다시 매입한 것이다. 또한 Fidelity Wise Origin Bitcoin Fund(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>)에도 자금을 재할당해 213주를 11,877달러에 매입했다.
전반적으로 JP모건의 비트코인 ETF 노출액은 거의 65,000달러에 달했다.
그리고 JP모건은 처음으로 이더리움 ETF에 진입하면서 Grayscale Ethereum Trust ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>)와 그 미니 버전인 Grayscale Ethereum Mini Trust ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>)에 상당한 투자를 했다. 두 펀드에 대한 총 투자액은 30,700달러였다.
암호화폐 노출을 늘리려는 시도 속에서 JP모건은 마이크로스트레티지 포트폴리오를 12.5% 증가시켜 660,693주로 늘렸고, 이는 1억 1,139만 달러에 달한다.
<h3>골드만삭스</h3>
또 다른 월가 거대 은행인 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)는 지난주 13F 서류를 제출했다.
골드만삭스는 여러 비트코인 ETF에 7억 1천만 달러를 투자했으며 IBIT 펀드 1,270만 주를 보유하고 있고 이는 <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40410418/goldman-sachs-makes-blockbuster-debut-adds-over-400m-in-bitcoin-etf-position-in-q2-as-morg" target="_blank" rel="noopener">4억 6,100만 달러에 해당</a>한다고 공개했다.
이러한 투자로 골드만삭스는 IBIT 펀드의 제2대 주주가 되었으며, 현재 세계 최대 비트코인 투자펀드인 IBIT의 자산은 428억 9,000만 달러에 달한다.
한편, 골드만삭스는 2,516만 달러 규모의 이더리움 ETF를 보유하고 있으며, 이는 Grayscale의 Mini Trust(ETH)와 Fidelity의 이더리움 펀드(BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>)에 분산되어 있다.
흥미롭게도, 골드만삭스는 3분기에 약 534,894주의 마이크로스트레티지 주식을 매각하여 보유 비중을 1억 4,044만 달러로 줄였다.
<h3>모건 스탠리</h3>
모건스탠리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)는 지난 분기에 비트코인 ETF 포트폴리오 규모를 2억 3,300만 달러에서 1억 8,339만 달러로 줄였다.
이러한 자금 유출은 주식 449,802주의 IBIT 펀드 주식을 매도한 데 따른 것이었다.
또한 모건스탠리는 이더리움 ETF에 투자했는데 주로 iShares Ethereum Trust ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>)를 통한 투자였다.
한편, 마이크로스트레티지 보유량은 22.6% 증가한 9,595,008주로 16억 1,100만 달러에 달했다.
사진 출처: Avi Rozen on Shutterstock
Benzinga Pro의 독점 뉴스 및 도구로 수익률을 높이세요.
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Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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