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Ethereum NFTs Reach Over $300 Million in Weekly Volume
The Ethereum-based NFT collections have seen a significant surge, reaching over $300 million in weekly sales volume. According to Cointelegraph Deutschland, the increase was reported by CryptoSlam on December 21st, showing a 76% rise compared to the previous week with sales hitting $201 million. This accounts for 66% of all NFT sales during that period.
In comparison, Bitcoin and Solana based NFTs recorded lower volumes at $40 million and $29 million respectively. The Pudgy Penguins collection led the market with a remarkable volume of $54.4 million while other popular collections like Doodles and CryptoPunks also made it into the top ten list.
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The Battle Between Ethereum and Solana Intensifies
A fierce rivalry between Ethereum (ETH) and Solana (SOL) is heating up as both networks show impressive growth throughout 2024. Newsbit reports that Solana has surpassed Ethereum in several areas including application revenues where it generated $141 million against Ethereum's $93.56 million.
Despite these achievements from Solana, experts believe that Ethereum's upcoming upgrades could help regain its dominance by enhancing scalability through Layer-2 solutions such as Base, Optimism, and Arbitrum which are expected to bridge gaps between institutional trustworthiness alongside daily accessibility needs among users worldwide.
SEC Approves First Hybrid Bitcoin-Ethereum ETFs
The U.S. Securities Exchange Commission has approved new exchange-traded funds combining both Bitcoin and Ethereum assets under one regulated product offering investors diversified exposure across two leading cryptocurrencies simultaneously according to a Wallstreet:online article.
This approval marks an important milestone within crypto markets allowing institutions easier access whilst ensuring compliance measures remain intact protecting investor interests amid growing demand surrounding digital asset investments globally, especially after recent approvals granted earlier this year concerning spot ETF offerings too!
Crypto Whales Increasingly Buying Up More ETH Amid Market Volatility
Cryptocurrencies like the leading altcoin, Ethereum ($ETH), have experienced a turbulent trading week according to a FinanzNachrichten.de report. Despite initial price increases being dampened by statements from Fed Chair Jerome Powell, a recovery emerged on Friday, fueling speculation about a possible bull run, especially after it became known that so-called "crypto whales" had quickly acquired large amounts!
Sources:
- Ethereum-NFTs erreichen über 300 Mio. US-Dollar an Wochenvolumen
- Der Kampf zwischen Ethereum und Solana erreicht seinen Höhepunkt: Wer gewinnt in der DeFi-Welt?
- SEC genehmigt erste hybride Bitcoin-Ethereum-ETFs
- Ethereum Kurswarnung: Konkurrenz-Token als potenzieller Schutz vor Abwärtstrend
- Krypto-Wale kaufen derzeit vermehrt Ethereum!
- Ethereum-Kurs: ETH mit neuem Allzeithoch noch in 2024?
