BlackRock signals it is working on a new staked Ethereum trust ETF

Bitcoin's base layer is facing challenges with low throughput, high fees, and limited programmability, leading to a shift of DeFi activities to alternative Layer-1s and Ethereum rollups. Bitcoin Hyper has introduced a modular Bitcoin Layer-2 utilizing SVM technology, which promises low-latency smart contract execution and performance akin to Solana, while maintaining Bitcoin's security. Recent whale purchases have pushed the presale past $28 million, indicating renewed interest in Bitcoin.

An Asian Ethereum DAT project valued at $1 billion has been cancelled due to a downturn in the cryptocurrency market, as reported by Wu Blockchain. The initiative was initially backed by influential investors in Asia, but the bearish price trajectory has led to its shelving.

BlackRock's Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has faced its largest one-day outflow, totaling over $500 million. This significant withdrawal reflects growing investor caution amid fears of a potential bear market, as Bitcoin's price has dropped below the critical $100,000 threshold following a record high in October. The current selloff highlights the broader challenges facing the cryptocurrency market.

BlackRock has initiated the process to launch a Staked Ether ETF, marking its first step into this segment of the cryptocurrency market. This move reflects the company's ongoing commitment to expanding its cryptocurrency offerings and adapting to evolving market demands.

The Aztec Network has launched its Ignition Chain on the Ethereum blockchain, focusing on enhancing privacy features for users. This development aims to provide a more secure environment for transactions and data management within the cryptocurrency space.

On-chain data indicates that XRP retail investors have seen a 60% increase in profitability despite recent market downturns. This figure is compared to Bitcoin and Ethereum, highlighting XRP's resilience in the current cryptocurrency landscape. The analysis by Glassnode sheds light on the profitability of retail investors in the top assets.

Solana (SOL) has initiated a recovery wave, trading above the $132 zone and consolidating near $145. The price has surpassed key resistance levels, including $135 and $140, and is now above the 100-hourly simple moving average. If SOL can clear the $145 and $150 resistance levels, further upward movement is anticipated.

Mastercard is simplifying digital asset interactions for everyday users by introducing email-style wallet IDs through a collaboration with Polygon and Mercuryo. This initiative aims to enhance user experience by making cryptocurrency transactions more accessible and user-friendly.