In the latest developments in the cryptocurrency world, Julian Assange, the co-founder of WikiLeaks, has gained freedom with the support of Bitcoin. Additionally, the circulating supply of Ethereum has been on the rise for the past 70 days, indicating that its deflationary phase may be ending. Furthermore, industry analyst Eric predicts that an Ethereum exchange-traded fund (ETF) is set to be listed.
Julian Assange’s Bitcoin Support
Julian Assange has been fighting extradition to the United States for 14 years and recently received a significant donation of around $500,000 from a Bitcoin investor. This donation facilitated the relocation expenses for Assange and his family. Subsequently, Assange left the UK for Saipan, where a local court recognized that he had violated the Espionage Act. His wife, Stella Assange, emphasized that the entire process was funded by cryptocurrency investors, stating that “freedom comes at a cost.” Visit NEWSLINKER for the latest tech news.
What’s Happening with Ethereum Inflation?
Following Ethereum’s transition to Proof of Stake (PoS), Ether initially experienced deflation, but it has now reversed into an inflationary trend. Recent London updates have led to a decrease in transaction fees, causing staking rewards to surpass supply consumption. Despite ongoing network activity, the circulating supply of Ethereum has been increasing, marking the end of a brief deflationary period. Over 345,000 ETH have been burned since the merge, equivalent to around $11 billion in supply being taken out of circulation. Nevertheless, the supply has been increasing for 73 consecutive days.
Imminent Listing of Spot Ethereum ETF
VanEck has made progress in listing a spot Ethereum ETF by submitting Form 8-A to the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst Eric Balchunas indicates that this filing suggests the listing is nearing completion, mirroring the process followed by Bitcoin ETFs. If the timeline remains consistent with previous cases, trading is expected to commence on July 2nd. Several prominent companies including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise have recently had their spot Ethereum ETF applications approved.
Key Insights for Investors
Julian Assange’s freedom was enabled by a substantial donation in Bitcoin. The circulating supply of Ethereum is increasing, reversing its deflationary trend. The listing of VanEck’s spot Ethereum ETF is nearing completion and trading may begin on July 2nd. Several major financial institutions have had their spot Ethereum ETF applications approved.
These insights provide crucial information for investors to navigate the rapidly evolving cryptocurrency market and make informed decisions.
Follow our news on Telegram, Twitter (X), and Coinmarketcap. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware of the high volatility of cryptocurrencies, which carry risks, and should conduct their own research.
