Latest Ethereum News and Insights | Yellow.com

Ethereum, the second-largest cryptocurrency by market capitalization, is facing a significant downturn in network activity. New active addresses on the Ethereum network have plummeted by 43% over the past three months. This sharp decline underscores reduced investor engagement and network utilization. Data from The Block reveals notable fluctuations in Ethereum's network metrics. On June 27, new active addresses peaked at 138,620, but this figure dropped drastically to around 89,000 in early July. August saw the number fluctuate between 80,000 and 95,000. It briefly rebounded above 100,000 at month's end, however, the upward trend was short-lived. Despite a recent price uptick, new active addresses fell to 78,100 on September 24. This marks a 23.43% decline. Currently, the figure remains below 80,000. Total active addresses have also decreased. On June 9, they reached 702,857, but by September 22, this number had fallen to 574,073. This represents an 18.32% decrease from the June high. A drop in new active addresses often signals decreased user engagement, and this typically leads to reduced overall network activity and transaction volume. IntoTheBlock data supports this trend. The total volume of large transactions on Ethereum peaked at 2.91 million on July 5. By September 29, this had fallen to 1.79 million (a 38.4% decrease). Despite these concerning figures, there's a glimmer of hope. Market intelligence platform Santiment reports that Ethereum network activity is starting to pick up. However, this increase coincides with rising gas fees. Ethereum briefly lost its top spot in 24-hour Decentralized Exchange (DEX) volume on September 25. Solana temporarily claimed the lead with a volume of $1.123 billion, while Ethereum's volume stood at $1.118 billion. Ethereum has since reclaimed its leading position. Its 24-hour DEX volume now stands at $1.559 billion, an 11% increase. Solana's volume, while up 32.94%, remains lower at $1.251 billion. These fluctuations highlight the volatile nature of the cryptocurrency market. Ethereum's declining network activity, despite recent price gains, raises questions about its long-term user engagement and adoption trends, or - as someone might surmise - whether Ethereum is finally starting to loose its ground and give the initiative to its arch enemy - Solana. We'll have to wait and see if the numbers support this assumption.

The Tron blockchain network has recorded a surge in trading activity. Last week, it processed almost $100bn in on-chain volume. This spike comes as TRX, the network's native currency, trades near its all-time high. Blockchain analytics firm IntoTheBlock reported the substantial increase in Tron's on-chain activity. The data shows that Tether (USDT) transfers dominated the volume, as Tron has become the preferred network for USDT transfers. Tron currently manages over $61bn of USDT and now handles over 50% of all USDT movements. Users favor Tron for its lower costs and higher scalability compared to Ethereum. This preference persists even despite the rise of Ethereum layer-2 solutions. TRX transfers made up 2.6% of the total on-chain volume last week. Other significant TRC-20 tokens included SUN, BitTorrent, and JUST. These tokens are central to major decentralized finance protocols on Tron. The network has also seen increased meme coin activity. This follows the mid-August launch of SunPump by Tron co-founder Justin Sun. SunPump, a meme coin launchpad, has generated over $5.3m in revenue and has facilitated the launch of more than 86,400 meme coins. Dune Analytics reports that over 1,640 SunPump tokens are now listed on Sunswap. While the initial meme coin frenzy has cooled, both TRX and SunDog have benefited. SunDog, a prominent meme coin from SunPump, has surged over 720% since August 2024. TRX is currently trading about 10% below its all-time high. The overall uptrend remains intact despite recent fluctuations. A break above $0.15 could signal further upward momentum. Market analysts are watching for a potential breakout above August 2024 highs. The daily chart shows a bull flag formation: such a pattern often precedes significant price movements. The recent surge in network activity coincides with shifts in broader crypto market sentiment. Changes in U.S. monetary policy have influenced this trend. Investors are reassessing digital assets in light of these macroeconomic developments. Tron's performance underscores its growing importance in the cryptocurrency ecosystem. Its role in facilitating stablecoin transfers and supporting decentralized finance applications continues to expand. As the network processes unprecedented volumes, all eyes are on TRX's price action in the coming weeks.

XRP, Solana, Bitcoin and Litecoin see inflows from investors, while Ethereum continued its outflow trend. Digital asset investment products saw inflows of $321 million last week. This marks the second consecutive week of positive flows. The trend reflects strong investment interest, particularly in the United States. The Federal Open Market Committee's decision to cut interest rates by 50 basis points fueled this interest. As a result, crypto fund assets under management grew by 9%. Bitcoin led with $284 million in inflows. Notably, short Bitcoin products attracted $5.1 million, this suggests some investors are hedging against potential downside risks. Ethereum continued its outflow trend for a fifth consecutive week. Outflows totaled $28.5 million last week. The Grayscale Ethereum Trust largely drove this trend. Month-to-date outflows for Ethereum now stand at $145.7 million. XRP saw inflows of $0.1 million, this coincided with the launch of Grayscale's XRP trust. Solana maintained its appeal with $3.2 million in inflows. Litecoin also saw modest inflows of $0.1 million. Multi-asset investment products attracted $54.2 million, this effectively offset Ethereum's outflows. Cardano-based products, however, experienced $0.2 million in outflows. The crypto industry appears to be entering a bullish phase, recent multi-month corrections seem to be ending. Bitcoin, supported by key on-chain metrics, looks primed for a bull run. The prospect of further Fed interest rate cuts adds to this optimism. Institutional interest is crucial for the upcoming bull run. Large inflows from these investors will likely boost Bitcoin's price. This could lead to corresponding inflows into altcoins, and Ethereum may finally start attracting institutional inflows in the coming weeks. The diverse trends among altcoins highlight the varying strategies employed by institutional investors. As the market evolves, these preferences may continue to shift, reflecting the dynamic nature of the cryptocurrency landscape.

A new blockchain protocol aims to unite Bitcoin and Ethereum, the two largest cryptocurrency networks, through an innovative approach called "tunneling". This development comes as the crypto community seeks alternatives to cross-chain bridges, which have been plagued by security vulnerabilities. Jeff Garzik, an early Bitcoin core developer, founded the Hemi Network to create this link. The project views Bitcoin and Ethereum as components of a larger supernetwork. Unlike traditional bridges, tunneling creates an environment where Bitcoin and Ethereum can coexist. This approach aims to eliminate attack vectors associated with bridges. Max Sanchez, co-founder and CTO of Hemi Labs, explained the key differences. "We are using deep Bitcoin introspection in HVM to build an extremely secure, trust-minimized Bitcoin tunneling system," he said. The system is based on an adapted version of BitVM2. It focuses on enabling efficient transaction processing while maintaining Bitcoin-level security. Hemi's protocol allows users to move assets between Bitcoin and Ethereum networks. Sanchez added, "People will be able to tunnel Bitcoin assets through Hemi to Ethereum." Thus, this development could bring secure Bitcoin-based asset tokenization to the Ethereum ecosystem. The project recently raised $15 million from investors including Binance Labs. Meanwhile, Ethereum co-founder Vitalik Buterin has outlined plans to address interoperability issues. He predicts rapid progress in solving layer-2 interoperability problems. Buterin unveiled a roadmap for Ethereum, which includes proposals like EIP-3370 and EIP-7683, aimed at improving cross-network functionality. "I think people will be surprised by how quickly cross-L2 interoperability problems stop being problems," Buterin stated. He envisions a smooth user experience across the "Ethereum-verse". The Ethereum co-founder also commented on rollup technology. He expects all rollups to eventually adopt zero-knowledge proofs, though this transition may take "5+ years". As these developments unfold, the crypto industry watches closely. The success of projects like Hemi Network could reshape the landscape of blockchain interoperability. The enormous fragmentation is still seen as one of the main obstacles for mass crypto adoption by many experts.

An early Ethereum investor has stirred the crypto market. They moved millions in ETH after years of inactivity and the profit is phenomenal. The investor joined Ethereum's 2014 initial coin offering (ICO). They received 150,000 ETH at the Genesis block. This initial $46,500 investment is now worth $389.7 million, and the return stands at an astounding 837,964%. After over two years of dormancy, the whale has awakened. They transferred 3,510 ETH, valued at $9.12 million, to Kraken, a major cryptocurrency exchange. This move suggests a potential sale on the open market. In crypto parlance, a 'whale' refers to an individual or entity holding a significant amount of a particular cryptocurrency. These large holders can potentially influence market movements due to their substantial holdings. Lookonchain also highlighted another savvy whale's actions. This investor accumulated over 96,000 ETH during the 2022 bear market. They sold large amounts this year, including 15,000 ETH on September 21st. "This is a smart diamond hand," Lookonchain noted. 'Diamond hands' is a term used in the crypto community to describe investors who hold onto their assets despite market volatility or potential short-term gains. The firm elaborated on this investor's strategy. "Buying ETH in the bear market and selling ETH in the bull market, making $131.72 million!" Lookonchain provided more details on this investor's moves. "This whale bought 96,639 ETH ($151.42 million) from Coinbase at $1,567 on September 3rd and September 4th, 2022." The investor's subsequent actions were also notable. "Then deposited 70,000 ETH ($214.34 million) at $3,062 to Kraken since March 6th, leaving 26,639 ETH ($68.81 million)." These movements highlight the potential for significant returns in the volatile cryptocurrency market. They also underscore the importance of long-term holding strategies in realizing such gains. At the time of writing, Ethereum is trading at $2,660. This represents an increase of over 3% in the last 24 hours.