Latest news with #CoinGecko
Yahoo
8 hours ago
- Business
- Yahoo
The Node: Altcoin Season?
BTC has been putting on a bit of a one-man show for the last couple of years, rising all the way to $120k while other major cryptocurrencies like ETH and SOL are still below their 2021 records. The orange coin's share of the total crypto market capitalization steadily increased from a little under 40% in December of 2022 to 65% this June. But altcoins finally took a stand this July, with bitcoin dominance sliding 5.8% in a single week, its sharpest drop since June 2022. A quick look over at CoinGecko shows us that a majority of the coins in the Top 100 have risen between 20% to 30% in the past seven days. ETH, which has had a rough two years, outperformed most of the market by notching 26% gains. DOGE, XRP and ADA — the usual suspects in times of elation — are up 40%, 22% and 23% respectively. Meanwhile, SOL finally caught up today by increasing 7%; the coin's price is now 18% higher than last Monday. 'It's not surprising to see bitcoin dominance fall over the last month given progress around digital asset legislation in the U.S. and the continued emergence of altcoin treasury companies,' Brian Rudick, chief strategy officer at SOL treasury firm Upexi, told CoinDesk. 'This legislation is likely to spur more on-chain development and activity and that benefits altcoins more so than bitcoin,' Rudick added. 'While the preponderance of digital asset treasury companies continue to be [for BTC], they are increasingly moving down the risk spectrum to assets like ETH, SOL, and beyond.' Case in point: since I last wrote to you on Friday, DeFi Development boosted its SOL holdings to almost $200 million; Bitmine and SharpLink's leaders openly stated they're in competition over the accumulation of ETH supply; The Ether Reserve (another ETH treasury firm) announced it will soon trade on Nasdaq (rebranding into The Ether Machine along the way); and a new company called StablecoinX declared its goal of constituting a treasury made of Ethena's ENA tokens. Not that bitcoin has been unloved. In that same period, Michael Saylor dropped another $740 million into bitcoin, semiconductor firm Sequans invested $150 million, and Trump Media disclosed that its bitcoin stash was worth $2 billion. But the market capitalization of tokens like ETH, SOL and ENA is significantly smaller than bitcoin's, so these treasury buys tend to have a much larger impact on their price, Rudick said. 'As long as the U.S. continues to make progress on digital asset legislation and the market continues to receive digital asset treasury companies well, I would not be surprised if bitcoin dominance continued to fall and altcoin season truly emerges,' he added.
Yahoo
8 hours ago
- Business
- Yahoo
Decentralized Crypto Exchanges Hit Record Market Share in Q2 Volume: CoinGecko Report
Decentralized exchanges, or DEXs, saw their highest-ever market share in spot crypto volume as trading on their centralized counterparts such as Binance declined in the second quarter of the year, CoinGecko reported. Among centralized exchanges (CEXs), Binance held onto the top place in spot trading market share, even though its quarterly volume dropped to $1.47 trillion from over $2 trillion, the report said. endured even steeper decrease losing 61% of its volume through the quarter. Coinbase also booked less volume. The declines for CEXs happened as bitcoin (BTC) spiked to a fresh all-time record, which usually bolsters trading appetite. Spot trading volume on DEXs surged to $876.3 billion, rising over 25% from the previous quarter, the report noted. Meanwhile, centralized exchanges (CEXes) saw a sharp pullback, with spot volume across the top platforms falling nearly 28% to $3.9 trillion. This means the DEX-to-CEX trading volume ratio jumped to a record high 0.23, perhaps pointing to a growing investor demand for trading directly on-chain. The standout was PancakeSwap, which became the largest DEX by volume after growing more than fivefold quarter-over-quarter. The exchange processed over $392 billion in trades, accounting for nearly half of all DEX activity. The spike follows Binance's launch of Binance Alpha in May, which began routing trades through PancakeSwap and helped elevate BNB Smart Chain above Ethereum, Base, and Solana as the most-used blockchain. Perpetuals trading on DEXs also hit a record, with $898 billion traded during the quarter and Hyperliquid (HYPE) dominating the space with nearly 73% of market share, per the report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Its not just bitcoin. Companies are now adding ethereum to their balance sheets.
It's not just bitcoin (BTC-USD) that corporate treasuries are buying. A handful of firms are scooping up ethereum — or its native token, ether (ETH-USD) — as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets. So far, the companies taking this approach are mainly smaller names in the crypto world, such as BitMine Immersion Technologies (BMNR), chaired by Fundstrat's Tom Lee. One larger player — Coinbase Global (COIN), the parent company of trading network Coinbase — has more than $440 million in holdings, according to crypto and investment tracker CoinGecko. When Coinbase announced in a 2021 blog post that it would become the first publicly traded company to hold ethereum and other assets, in addition to bitcoin, it stated, "We believe that in the future, more and more companies will hold crypto assets on their balance sheet." Ethereum has surged 60% over the past month to hover near $3,800, its highest level since January. The second-largest cryptocurrency by market cap has yet to reclaim its 2021 high north of $4,600. Ethereum allows developers to write programs or contracts that run entirely on its blockchain, or network. It currently leads as the dominant infrastructure that allows businesses and consumers to transact with each other directly without banks, with a market share of more than 51%. "Ethereum lets anyone — whether it's a crypto project, a factory, an artist, an influencer — create their own token and thus their own community and incentivize communities with an economy basically," Ray Youssef, CEO of crypto marketplace NoOnes, told Yahoo Finance. He called tokenization ethereum's "killer app." "You could argue it has more utility than bitcoin," he said. That utility is why firms like BitMine and SharpLink Gaming have increasingly been raising capital to buy ETH, similar to how Strategy (MSTR) and a slew of other companies have added bitcoin to their balance sheets in recent months. Read more: Can you buy crypto with a credit card? See the pros and cons. As with bitcoin, the approach can be risky due to volatile prices. Ethereum prices tumbled in April when President Trump's "Liberation Day" tariffs announcement roiled markets. The rewards have not been as high as those that bitcoin has offered either: The return on ethereum year to date is 14%, versus bitcoin's 26%. Crypto miner BitMine Immersion Technologies recently announced it holds more than $1 billion in ethereum, or roughly 300,000 tokens. The company, which went public on June 5, has positioned itself as a pure-play on ethereum, betting that owning it is akin to owning the underlying infrastructure behind the convergence of crypto and financial services. "Acquiring $1 billion of ETH1 is a clear signal of our conviction in ethereum's long-term value," Jonathan Bates, CEO of BitMine, said in the press release announcing the news. He noted that the company was "committed to Ethereum's continued growth." BitMine shares surged 25% in one session last week after an SEC filing revealed that billionaire Peter Thiel purchased 9.1% of the firm's common stock through his investment funds. Gaming and sports betting company SharpLink Gaming (SBET) and blockchain tech firm BTCS (BTCS) have also pursued similar treasury strategies. Shares of each are up nearly 200% over the past month. Earlier this month, computing firm Bit Digital (BTBT) announced that it had shifted its entire treasury from bitcoin to ethereum. "We believe Ethereum has the ability to rewrite the entire financial system," Sam Tabar, CEO of Bit Digital, said in a press release. Year to date, the stock is up 17%. Ethereum's surge coincides with the GENIUS Act, landmark legislation signed by President Trump last Friday, moving through Congress. The new law regulates stablecoins, digital tokens backed by assets like the US dollar and short-term treasuries. Optimism over stablecoin's adoption has sent shares of issuer Circle (CRCL) up more than 600% since its IPO on June 5. The company's USD Coins (USDC-USD) run on ethereum. "If real companies and institutional investors are innovating on the blockchain, doesn't that make blockchain networks, and by implication, blockchain network assets (e.g ETH) valuable?" Bernstein's Gautam Chhugani asked in a note last month. "Any company that uses stablecoin tech pays transaction fees to the Ethereum network." To be sure, not all companies see the same value in ethereum as they do in bitcoin. When asked directly whether Strategy would add ETH to its holdings, executive chairman Michael Saylor said in an interview with The Street, "MicroStrategy wouldn't because MicroStrategy is 150% Bitcoin. We do Bitcoin, we're 150% Bitcoin. We're going to be Bitcoin. And the only thing I like more than Bitcoin is more Bitcoin." Indeed, ethereum is by no means replacing bitcoin as the investment of choice for companies, Sean Farrell, head of digital asset strategy at Fundstrat, told Yahoo Finance. Consider it an adjacent strategy. "I don't want people to misconstrue this movement from treasury companies to be viewed [as] ETH is replacing bitcoin. It's just blockchain technology applied in a different way for a different use case," Farrell said. "These companies are just capitalizing on the real world asset [tokenization] trends." Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Its not just bitcoin. Companies are now adding ethereum to their balance sheets.
It's not just bitcoin (BTC-USD) that corporate treasuries are buying. A handful of firms are scooping up ethereum — or its native token, ether (ETH-USD) — as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets. So far, the companies taking this approach are mainly smaller names in the crypto world, such as BitMine Immersion Technologies (BMNR), chaired by Fundstrat's Tom Lee. One larger player — Coinbase Global (COIN), the parent company of trading network Coinbase — has more than $440 million in holdings, according to crypto and investment tracker CoinGecko. When Coinbase announced in a 2021 blog post that it would become the first publicly traded company to hold ethereum and other assets, in addition to bitcoin, it stated, "We believe that in the future, more and more companies will hold crypto assets on their balance sheet." Ethereum has surged 60% over the past month to hover near $3,800, its highest level since January. The second-largest cryptocurrency by market cap has yet to reclaim its 2021 high north of $4,600. Ethereum allows developers to write programs or contracts that run entirely on its blockchain, or network. It currently leads as the dominant infrastructure that allows businesses and consumers to transact with each other directly without banks, with a market share of more than 51%. "Ethereum lets anyone — whether it's a crypto project, a factory, an artist, an influencer — create their own token and thus their own community and incentivize communities with an economy basically," Ray Youssef, CEO of crypto marketplace NoOnes, told Yahoo Finance. He called tokenization ethereum's "killer app." "You could argue it has more utility than bitcoin," he said. That utility is why firms like BitMine and SharpLink Gaming have increasingly been raising capital to buy ETH, similar to how Strategy (MSTR) and a slew of other companies have added bitcoin to their balance sheets in recent months. Read more: Can you buy crypto with a credit card? See the pros and cons. As with bitcoin, the approach can be risky due to volatile prices. Ethereum prices tumbled in April when President Trump's "Liberation Day" tariffs announcement roiled markets. The rewards have not been as high as those that bitcoin has offered either: The return on ethereum year to date is 14%, versus bitcoin's 26%. Crypto miner BitMine Immersion Technologies recently announced it holds more than $1 billion in ethereum, or roughly 300,000 tokens. The company, which went public on June 5, has positioned itself as a pure-play on ethereum, betting that owning it is akin to owning the underlying infrastructure behind the convergence of crypto and financial services. "Acquiring $1 billion of ETH1 is a clear signal of our conviction in ethereum's long-term value," Jonathan Bates, CEO of BitMine, said in the press release announcing the news. He noted that the company was "committed to Ethereum's continued growth." BitMine shares surged 25% in one session last week after an SEC filing revealed that billionaire Peter Thiel purchased 9.1% of the firm's common stock through his investment funds. Gaming and sports betting company SharpLink Gaming (SBET) and blockchain tech firm BTCS (BTCS) have also pursued similar treasury strategies. Shares of each are up nearly 200% over the past month. Earlier this month, computing firm Bit Digital (BTBT) announced that it had shifted its entire treasury from bitcoin to ethereum. "We believe Ethereum has the ability to rewrite the entire financial system," Sam Tabar, CEO of Bit Digital, said in a press release. Year to date, the stock is up 17%. Ethereum's surge coincides with the GENIUS Act, landmark legislation signed by President Trump last Friday, moving through Congress. The new law regulates stablecoins, digital tokens backed by assets like the US dollar and short-term treasuries. Optimism over stablecoin's adoption has sent shares of issuer Circle (CRCL) up more than 600% since its IPO on June 5. The company's USD Coins (USDC-USD) run on ethereum. "If real companies and institutional investors are innovating on the blockchain, doesn't that make blockchain networks, and by implication, blockchain network assets (e.g ETH) valuable?" Bernstein's Gautam Chhugani asked in a note last month. "Any company that uses stablecoin tech pays transaction fees to the Ethereum network." To be sure, not all companies see the same value in ethereum as they do in bitcoin. When asked directly whether Strategy would add ETH to its holdings, executive chairman Michael Saylor said in an interview with The Street, "MicroStrategy wouldn't because MicroStrategy is 150% Bitcoin. We do Bitcoin, we're 150% Bitcoin. We're going to be Bitcoin. And the only thing I like more than Bitcoin is more Bitcoin." Indeed, ethereum is by no means replacing bitcoin as the investment of choice for companies, Sean Farrell, head of digital asset strategy at Fundstrat, told Yahoo Finance. Consider it an adjacent strategy. "I don't want people to misconstrue this movement from treasury companies to be viewed [as] ETH is replacing bitcoin. It's just blockchain technology applied in a different way for a different use case," Farrell said. "These companies are just capitalizing on the real world asset [tokenization] trends." Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Gizmodo
2 days ago
- Business
- Gizmodo
Ethereum Is Quietly Soaring. What Comes Next?
Ethereum is experiencing a seismic rally. The price of Ether, the native token of the Ethereum network, surged by nearly $1,000 in a single week to hit a five-month high, climbing 25.3% to reach $3,745.72, according to data firm CoinGecko. For the first time in recent memory, there's a palpable sense that this rally is grounded in something real and sustainable. So, what's driving this explosive momentum? Major asset managers have begun launching Ethereum ETFs (Exchange-Traded Funds). These regulated financial products allow investors to gain exposure to Ethereum's price without the technical hurdles of buying and storing the cryptocurrency themselves. Think of it as buying a share of gold through the stock market instead of purchasing a physical bar. According to market analysts, a staggering $730 million has flooded into these funds in just the past few weeks, shattering inflow records. This is a significant wave of capital from institutional players, and it's fundamentally driving prices higher. Many investors believe this is merely the opening act. The crypto world is buzzing with the funds flooding into spot Ethereum ETFs, from pension funds, retirement accounts, and conservative wealth managers who have been waiting on the sidelines. Spot Ethereum ETFs enable investors to have regulated exposure to Ether. This is where the story gets truly compelling. For years, Bitcoin was the only cryptocurrency reputable enough for a public company to hold as a treasury asset. Now, Ethereum is breaking that monopoly in a dramatic fashion. SharpLink Gaming, a Minnesota-based company, pivoted its entire business model from online gambling marketing to building an Ethereum treasury. After adding 144,501 ETH in the past few days, it now holds at least 353,000 ETH worth $1.3 billion, according to EmberCN. BitMine Immersion Technologies raised $250 million in June with the explicit goal of acquiring Ether. This move attracted serious attention, with Peter Thiel's Founders Fund recently purchasing a 9.1% stake in the firm, causing its stock to soar. As of July 17, the company said that it holds 300,657 ETH worth $1.04 billion at current prices. Bit Digital, once a Bitcoin mining firm, sold its mining infrastructure to go all-in on Ethereum. The company now holds over 120,306 ETH worth $450.6 million. It has shifted its focus to staking, the process of actively participating in transaction validation on Ethereum's proof-of-stake network to earn yield on its holdings. These companies are strategically buying and holding for the long term, a practice that reduces the available supply on the open market and signals growing conviction in Ethereum as a durable store of value. Ethereum is digital trust — SBET (SharpLink Gaming) (@SharpLinkGaming) July 16, 2025Another critical factor fueling this rally is a classic supply shock: there simply isn't much ETH left to buy. On-chain analysts have observed that the amount of Ether held on major cryptocurrency exchanges has plummeted to an all-time low. Instead of sitting on exchanges waiting to be sold, ETH is being moved into private wallets for long-term holding, locked into corporate treasuries, or deposited into staking contracts to earn rewards. When supply dries up this dramatically while demand from ETFs and corporations spikes, prices take off. Beyond the price action, Ethereum's underlying fundamentals are stronger than ever. On-chain activity, a key measure of network health, is rising steadily. Both the number of daily transactions and the use of smart contracts—the self-executing code that powers decentralized applications—are trending upward. Consequently, demand for 'gas fees,' which are paid to process transactions, is also increasing, indicating genuine, organic usage. Furthermore, Layer 2 networks, or scaling solutions built on top of Ethereum to offer faster and cheaper transactions, are seeing explosive growth and adoption. This vibrant ecosystem proves Ethereum is a foundational settlement layer for decentralized finance (DeFi), NFTs, and a growing number of next-generation applications. Timing is everything. Bitcoin had its landmark ETF moment earlier this year, leading to a historic run. Now, a natural market cycle is unfolding as some of that capital rotates out of Bitcoin and into high-potential altcoins, with Ethereum being the prime beneficiary. This 'dominance shift' is attracting the attention of sophisticated traders and funds looking to capture the market's next major wave. That is the multi-billion dollar question. As long as institutional demand for ETFs continues, corporate treasuries keep accumulating, and the supply on exchanges remains tight, Ethereum has a clear runway to continue its ascent through the third quarter. Some traders are already setting targets of $4,000 or even $5,000 if the current momentum holds. However, the rally is not without risks. A sudden slowdown in ETF inflows, a broader market downturn, or a resurgence of Bitcoin's dominance could quickly cool this rally. For now, Ethereum is riding a perfect wave of real-world adoption, institutional validation, and savvy capital positioning itself for the future. And Main Street is only just beginning to pay attention.
