Ethereum

Bitcoin ETF

Bitcoin

Impact

Read

<ul>
 <li>Ethereum dominated the past week’s crypto investments, securing 76% of all deposited funds.</li>
 <li>Ethereum marked a historic week with over $9 billion settled in transactions.</li>
 <li>Arthur Cheong predicts a substantial ETH price surge if BlackRock’s Bitcoin ETF application paves the way for a similar Ethereum ETF.</li>
</ul>
<p>Ethereum has emerged as the frontrunner, showcasing its dominance by securing an impressive 76% of all deposited funds in the past week. Recent data illuminates the platform’s pivotal role, especially in the surging crypto Total Value Locked (TVL).&nbsp;</p>
<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="550" data-dnt="true">
   <p lang="en" dir="ltr">.<a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ethereum</a> dominated this week's TVL growth rankings, accounting for $6.68B of the total $8.76B TVL growth across crypto last week. <a href="https://t.co/45rqb3Seml" rel="noopener noreferrer nofollow">pic.twitter.com/45rqb3Seml</a></p>— 0xScope ( <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1faac.png" alt="🪬" class="wp-smiley" style="height: 1em; max-height: 1em;"> . <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1faac.png" alt="🪬" class="wp-smiley" style="height: 1em; max-height: 1em;">) (@ScopeProtocol) <a href="https://twitter.com/ScopeProtocol/status/1718831907017036196?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 30, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>During this historic week, Ethereum shattered records by facilitating transactions exceeding $9 billion on its network. This achievement, marking the highest weekly volume since mid-June, underscores the platform’s unparalleled capacity to facilitate peer-to-peer trading and provide essential liquidity to the crypto market.&nbsp;</p>
<p>Arthur Cheong, founder of DeFiance Capital, has provided intriguing insights into Ethereum’s potential price trajectory. Cheong’s analysis hinges on BlackRock’s recent application for a spot Bitcoin (BTC) exchange-traded fund (ETF).&nbsp;</p>
<p>He speculates that if BlackRock’s BTC ETF application proves successful, it could pave the way for a similar ETF focused on Ethereum. According to Cheong, this development could trigger a significant rally in Ethereum’s price, positioning it as a lucrative investment opportunity.&nbsp;</p>
<p>As of the current moment, <a href="https://www.coingecko.com/en/coins/ethereum" rel="noopener noreferrer nofollow">ETH</a> is valued at $1,808.96. This indicates a slight decrease of 0.05% in the price over the last 24 hours, coupled with a modest increase of 0.97% in the past week.</p>
<p>The recent surge in Decentralized Exchange (DEX) volumes further solidifies Ethereum’s role as a linchpin in facilitating seamless crypto trading experiences. It’s worth noting that Ethereum’s allure lies not just in its technological prowess but also in its Environmental, Social, and Governance (ESG) attributes and staking yield opportunities, making it an enticing prospect for investors looking to diversify their crypto portfolios.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/heres-why-the-bear-market-is-officially-over-crypto-vc-founder/" rel="noopener noreferrer nofollow">Here’s Why the Bear Market Is “Officially” Over: Crypto VC Founder</a></li>
 <li><a href="https://cryptonewsland.com/exciting-announcement-xrp-fair-market-valuation-paper-release-today/" rel="noopener noreferrer nofollow">Exciting Announcement: XRP Fair Market Valuation Paper Release Today!</a></li>
 <li><a href="https://cryptonewsland.com/waves-dominates-altcoin-race-with-100-weekly-surge/" rel="noopener noreferrer nofollow">WAVES Dominates Altcoin Race With 100%+ Weekly Surge</a></li>
 <li><a href="https://cryptonewsland.com/blackrocks-bitcoin-etf-filing-fuels-grayscales-climb-towards-2023-peak/" rel="noopener noreferrer nofollow">BlackRock’s Bitcoin ETF Filing Fuels Grayscale’s Climb Towards 2023 Peak</a></li>
 <li><a href="https://cryptonewsland.com/cardano-surges-past-600m-ada-tvl-and-sets-sights-on-q4-breakout/" rel="noopener noreferrer nofollow">Cardano Surges Past 600M ADA TVL and Sets Sights on Q4 Breakout</a></li>
</ul>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/ethereum-dominates-76-of-crypto-tvl-impact-on-eth-price/">Ethereum Dominates 76% of Crypto TVL: Impact on ETH Price</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Ethereum Dominates 76% of Crypto TVL: Impact on ETH Price

Crypto News Land

Other articles published on Oct 31, 2023

Crypto Weekly Inflows At Highest Since July 2022 As Spot Bitcoin ETF Frenzy Boosts Sentiment

Ethereum Bearish Signal: MVRV Has Entered The “Danger” Zone

Grayscale Development Paves the Way for Spot Bitcoin ETF Approval

Crazy Week! Bitcoin ETF BITO traded $1.7B and GBTC, $800M

Threat actors exploit ChatGPT with prompt injections: A growing concern in cybersecurity

MetaMask launches Blockaid’s enhanced security alerts for users

Join our free newsletter for daily crypto updates!