Crypto markets are seeing a “natural rotation” into Ether and altcoins with more potential upside, Nansen’s research analyst told Cointelegraph. Bitcoin whales, or large tokenholders, are selling more of the world’s first cryptocurrency to gain exposure to Ether’s price. The move signals the market’s “natural rotation” into Ether (ETH) and other altcoins with more upside potential, Nicolai Sondergaard, research analyst at crypto intelligence platform Nansen, told Cointelegraph. The growing investor capital rotation occurred despite increasing concerns over incoming selling pressure, due to the Ethereum validator queue reaching an all-time high of nearly $5 billion worth of ETH tokens on Thursday, pushing withdrawal times to a record 18 days, 16 hours. Read more
Ethereum’s roadmap is entering a “critical inflection point,” say Bitfinex analysts, with the valuation trading at a relative discount compared to Bitcoin. Ether spot exchange-traded funds (ETFs) have seen steady growth since their US debut in July 2024, while corporate treasuries tied to the token are also on the rise. Inflows into Ether (ETH) funds climbed 44% this month, rising from $9.5 billion on Aug. 1 to $13.7 billion on Aug. 28, according to cryptocurrency research platform SoSoValue. Market participants say renewed institutional demand is fueling the momentum. “After an extended period of underperformance relative to Bitcoin and a souring investor sentiment, Ethereum has recently experienced a significant revival in the recognition of both its adoption rate and value proposition,” Sygnum Chief Investment Officer Fabian Dori told Cointelegraph. Read more
After awarding millions of dollars, the Ethereum Foundation is overhauling its Ecosystem Support Program, shifting from open applications to a curated model. After funding hundreds of projects with millions of dollars, the Ethereum Foundation is temporarily pausing the Ecosystem Support Program’s (ESP) open grant application process to refocus on a more proactive funding model that is better aligned with the ecosystem’s strategic needs. The transition comes as the foundation faces challenges reviewing the high volume of inbound applications, which it said has left “limited capacity to pursue new strategic opportunities.” In a Friday blog post, the Ethereum Foundation stressed that the ESP will continue funding new projects, but under a refined approach to grantmaking. More details are expected in the fourth quarter, including a curated methodology outlining specific ecosystem priorities. Read more