Ethereum's Dominance in DEX Trading Faces Challenges
According to a report by CryptoPotato, Ethereum continues to be the leading blockchain for decentralized exchanges (DEX), despite experiencing a decline in market share. The CoinGecko Q3 crypto industry report highlights that while Ethereum remains dominant, its market share fell below 40% during the quarter. This dip is attributed to increased competition from other chains like Solana and Base, which have gained traction due to meme coin minting activities.
The report further notes that trading volume on Ethereum decreased by 19.6% compared to the previous quarter. Despite this setback, there has been significant growth within Ethereum’s layer-2 scaling solutions, with daily transactions nearing 10 million by September end—far surpassing those of the mainnet.
Cathie Wood's Ark Invest Sees Transformative Potential in Ethereum
Benzinga reports that Cathie Wood's Ark Invest views Ethereum as a transformative force for the financial services industry. In a recent research paper shared on X (formerly Twitter), Ark Invest highlighted how ETH is developing attributes similar to U.S. Treasury bills and becoming an institutional-grade asset with yield-bearing potential.
The firm believes that ETH staking yields are setting benchmarks within digital assets used for evaluating Layer 1s' risk profiles and returns. With over 34 million ETH staked representing more than 28% of circulating supply at an annualized average yield rate of approximately 3%, Ark predicts substantial future gains for investors embracing this technology shift.
Bitcoin & Ethereum ETFs Witness Massive Inflows
A CCN.com article reveals impressive inflows into Bitcoin and Ethereum exchange-traded funds (ETFs). Combined net inflows exceeded $570 million recently—a sign pointing towards growing investor confidence amid bullish sentiment surrounding these cryptocurrencies’ futures prospects through ETF investments managed primarily via BlackRock products among others involved globally today!
Crypto Veteran Shifts Focus Post-Ethereum Surge
An experienced cryptocurrency trader who successfully rode Ether from $1,500 up until reaching heights around $4,000 now turns attention onto Cardano alongside Lunex Network according to the latest insights published online courtesy of the crypto.news platform. The strategic shifts underway amongst seasoned players are seeking the next big opportunities across the altcoin landscape beyond the current cycles seen so far throughout the year.
Sources:
- Ethereum Remains Dominant DEX Chain Despite Dominance Dip: CoinGecko
- Cathie Wood's Ark Invest Says Ethereum Is A Big Idea That Will Transform The Financial Services Industry — ETH Is Beginning To 'Develop Attributes' Similar To US Treasury Bills
- Ethereum and Smart Contracts Explained in 5 Levels of Difficulty
- Bitcoin and Ethereum ETFs Soar With $570M Combined Inflows
- Crypto veteran shifts focus to Cardano and Lunex Network after Ethereum’s $4K ride
- Ethereum Faces Mixed Signals Amid ETF Challenges and Upcoming Network Upgrades
- Grayscale Seeks to Convert Fund With Solana, XRP and Avalanche Into ETF
- Solana's DeFi TVL Reaches $6B For the First Time in Three Years
- FTX’s $28M Solana unlock fails to halt rally – Bulls still eye $172
- Ethereum (ETH) Makes Biggest Comeback in Q4, Shiba Inu (SHIB) to Enter New Bullish Market Phase, Solana (SOL) Doubletop Pattern Incoming?
- Analyst Says It’s Time for Bitcoin Rallies, Updates Forecast on FET and Solana-Based Memecoin
- Solana’s Monthly Wallet Activity Hits Record High Yet SOL And UNI Bulls Are Driving Force Behind Altcoin Sensation’s 210% Increase: Guest Post by TheCoinrise Media
