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As summer 2024 approaches, the debate intensifies between Bitcoin (BTC) and Ethereum (ETH), two major players in the cryptocurrency market. Bitcoin is increasingly viewed as a digital gold, offering stability in times of economic uncertainty.

This perception is supported by its reduced volatility post-halving, now lower than that of many S&P 500 companies, according to Fidelity.

Ethereum continues to push the envelope with technological innovations like the recent Dencun upgrade, which aims to cut fees and enhance scalability. However, these changes have brought back inflationary aspects, moving away from the deflationary trend set by the 2022 Merge.

This has led to heightened volatility, with Ethereums implied volatility remaining significantly higher than Bitcoins despite the overall market calming.

With their divergent roles in investment portfoliosBitcoin as a burgeoning digital asset and Ethereum as a technological pioneerFinbold sought insights from ChatGPT, OpenAIs advanced AI model, to determine which might excel in the coming months.

This analysis highlights the need to evaluate Bitcoins appeal as a growing store of value against Ethereums progressive platform in a rapidly changing market landscape.

According to ChatGPT, the decision largely depends on individual investment strategies and risk tolerance. Bitcoin is generally better suited for investors seeking stability and a relatively safe store of value, akin to digital gold, especially amidst economic uncertainties. It appeals to risk-averse individuals or those new to cryptocurrencies.

Conversely, Ethereum fuels a platform for decentralized applications and is a major player in blockchain technology. Investors who believe in the future of these technologies may prefer Ethereum.

While Bitcoin offers stability and potential for incremental growth, Ethereum provides a gateway to a rapidly evolving blockchain ecosystem with higher risk and potentially higher rewards.

Ultimately, diversification with both BTC and ETH can be a way to manage risk and potentially benefit from the growth of both major cryptocurrencies.

As of 2024, the year-to-date performance of Bitcoin and ETH presents a clear contrast in investment returns. Bitcoin has seen a significant rise, with a YTD increase of 45.16%, showcasing its volatile yet high-growth nature. The current price of Bitcoin stands at approximately $61,200.

On the other hand, ETH has gained 28% YTD, with its current price at about $2,921.

The choice between Bitcoin and Ethereum should align with individual investment goals, risk tolerance, and interest in the technological aspects of cryptocurrencies.

While Bitcoin offers stability and potential for incremental growth, Ethereum provides a gateway to a rapidly evolving blockchain ecosystem with higher risk and potentially higher rewards.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Bitcoin or Ethereum? We asked ChatGPT which asset is a better buy for summer 2024 - Finbold - Finance in Bold

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The idea of a spot Ethereum exchange-traded fund (ETF) has captivated the financial community of late. As anticipation builds, analysts from JP Morgan have offered a cautiously optimistic outlook on the potential approval of such an ETF by the U.S. Securities and Exchange Commission (SEC).

Despite encountering recent regulatory challenges, JP Morgan maintains that the SEC might effectively navigate the classification of Ethereum, balancing its dual nature as both a security and a commodity due to its decentralized framework. This optimism persists even in the face of recent Wells notices issued to Ethereum-associated entities, which have traditionally sparked concerns among investors and market watchers. These notices often signal impending regulatory enforcement, introducing uncertainty about the immediate prospects of an Ethereum ETF.

However, the scrutiny faced by platforms like Robinhood concerning their cryptocurrency offerings is seen by JP Morgan analysts as unlikely to deter the SECs eventual approval of Ethereum ETFs. They argue that the regulatory environment, while seemingly stringent, may not necessarily block the path to launching such financial products.

Further, the analysts contend that Ethereums current performance metrics, which lag behind Bitcoin, should not dissuade stakeholders about its potential as an underlying asset for an ETF. They emphasize Ethereums unique attributes and strong market presence as factors that could ultimately support the successful introduction of an ETF, despite the regulatory hurdles that lie ahead.

Concluding their analysis, JP Morgans team remains hopeful. They envision a scenario where a spot Ethereum ETF could serve as a groundbreaking financial product, integrating traditional investment tools with the rapidly evolving digital asset sector. As developments continue to unfold, the broader cryptocurrency community remains vigilant, awaiting decisive guidance from the SEC that could propel the industry forward. The approval of a spot Ethereum ETF would mark not only a significant achievement for Ethereum but could also catalyze transformative changes across the entire cryptocurrency landscape.

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JP Morgan Analysts Offer Hope Ethereum ETF Despite Regulatory Challenges - Global Crypto

Grayscale has withdrawn its 19b-4 application for an Etherfutures exchange-traded fund (ETF) just three weeks before the securities regulator is forced to decide on it.

The cryptocurrency asset manager filed a notice of withdrawal for the Grayscale Ethereum Futures Trust with the United States Securities and Exchange Commission (SEC) on May 7.

The SEC was scheduled to decide on Grayscales Ether (ETH) futures ETF on May 30.

Grayscale initially filed its 19b-4 application for an Ether futures ETF on Sept. 19, 2023, which would have been listed on the New York Stock Exchange had it been approved.

Bloomberg ETF analyst James Seyffart initially believed that Grayscale planned to strategically use its Ether futures ETF as a trojan horse to corner the SEC into approving its spot Ether ETF.

However, he expressed confusion as to why Grayscale would withdraw now, when the SEC will be forced to make a decision to approve or deny at least one spot Ether ETF application on May 23, a little over two weeks away.

Related: SEC will classify Ether as security, deny spot Ether ETFs Michael Saylor

For several months, Seyffart and fellow Bloomberg ETF analyst Eric Balchunas have held a 25% chance the spot Ether ETFs will be approved on May 23, down from 70% in January.

Grayscales withdrawal didnt seem to impact these odds.

But Seyffart claims theres now no way for Grayscale to sue should the SEC knock back its spot Ether ETF application.

That said, comments from SEC Chair Gary Gensler in a May 7 interview with CNBC suggest the SEC is still weighing up its decision on the spot Ether ETF applications.

The SEC must make its decision on VanEck's application on May 23, while ARK 21Shares and Hashdex have final deadlines on May 24 and May 30.

Grayscale, Invesco Galaxy, BlackRock and Fidelity applications must be made in June, July and August. However, many industry pundits expect the securities regulator to decide on all or most applicants as it did with the spot Bitcoin ETFs in January.

Magazine: The real risks to Ethenas stablecoin model (are not the ones you think)

Read more:

Grayscale withdraws its Ethereum futures ETF application - Cointelegraph

Mon 13 May 2024 3 min of reading by Ariela R.

In the ever-evolving world of cryptocurrencies, the order of platform supremacy seems established. But the emergence of new players is challenging this current order. This is the case for Solana (SOL), which has just overtaken Ethereum (ETH) in terms of DEX volume.

Launched in 2020, the cryptocurrency platform Solana stands out for its transaction speed and low fees. This makes it particularly attractive to DeFi users. This crypto blockchain has experienced exponential growth in recent months, attracting many investors and developers.

According to recent data, DEX trading volume on Solana has reached $1.3 billion. For the first time, this volume exceeds that of Ethereum, which is at $1.29 billion. This remarkable performance marks a turning point in the competition between the two crypto platforms. It indicates the potential of Solana to emerge as a promising alternative to Ethereum.

In addition to the DEX trading volume of Solana, its transaction fees have also increased. These have reached 50% of the fees generated on the Ethereum crypto network lately. Analysts also predict that soon, transaction fees on the Solana network could surpass those of Ethereum.

Speaking of increases, the price of SOL has also seen a rise of over 6% in 24 hours. This situation propels Solana to the rank of the most performing altcoins in the crypto market.

Solanas surpassing of Ethereum in DEX trading volume is a strong signal of its potential to become a major player in the DeFi space. Its speed, negligible fees, rapidly expanding ecosystem, and innovative technology make Solana an attractive alternative for users and developers.

Although Ethereum maintains its dominance in terms of market capitalization, Solana is now positioning itself as a serious contender, ready to shake up the established crypto order.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.

Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rdaction web depuis maintenant 7 ans. Je n'ai dcouvert le trading et la cryptomonnaie que depuis quelques annes. Mais c'est un univers qui m'intresse beaucoup. Et les sujets traits au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Crypto: Ethereum dethroned by Solana in terms of decentralized exchange volume - Cointribune EN

Ethereum co-founder Vitalik Buterin published a new Ethereum Improvement Proposal (EIP) on Tuesday that aims to reconcile core developers disparate approaches to account abstraction in upcoming hard forks.

The proposal, EIP-7702, is a successor to EIP-3074 which was considered a Candidate For Inclusion (CFI) in Ethereums next upgrade known as Prague-Electra or Pectra.

But 3074s road to CFI status was bumpy, with substantial time spent debating the EIP across multiple All-Core Dev calls since January.

Read more: Gnosis Chain premieres Ethereums Dencun hard fork

Developers have sought to provide tangible improvements to end users in the next hard fork, while keeping open various paths towards the endgame of account abstraction.

When looking at what could conceivably be moved into production first, 3074 was judged as most realistic.

But it wasnt without its critics. For instance, Ansgar Dietrichs at the Ethereum Foundation called it relatively heavy-handed on the Jan. 18 ACD call, and more recently expressed reservations as well.

Buterin wrote the new proposal in 22 minutes, according to ZeroDev wallet CEO Derek Chiang, although the published proposal also credits Dietrichs alongside Sam Wilson and Matt Garnett.

A new transaction type allows EOAs to operate as smart contract wallets temporarily. At the end of a transaction, they revert to a normal account.

This approach promises to simplify the developers tasks by allowing the use of existing contract code and interaction patterns.

This EIP is designed to be very forward-compatible with endgame account abstraction, without over-enshrining any fine-grained details of ERC-4337 or RIP-7560, the authors wrote.

Read more: Ethereum devs debate future of account abstraction

Unlike 3074, the new proposal aims to replicate its functionalities without adding new opcodes. By assuming a smart contracts code temporarily, EOA can perform complex operations like batch transactions, making use of transaction sponsorship, and constrained sub-key operations a security feature employing secondary keys (sub-keys) that have limited or specific permissions within a single transaction.

Further down the roadmap, a wallet-centric approach to account abstraction is expected to become the norm. The new EIP is designed to be quite compatible with EIP-4337, rolled out in March 2023, making use of existing wallet code and transaction frameworks to minimize disruption and duplication of effort.

Read more: Ethereum Improvement Proposals to watch in 2024

7702 has rallied support from 3074 proponents like core developers Garnett and Andrew Ashkhmin, as well as important dapp developers including Uniswaps Hayden Adams.

Opposition to the previously included improvement had grown in recent months, as more developers became aware it was on a path to become part of the next Ethereum upgrade.

Ethereums governance operates on principles of consensus-building, where points of contention are meticulously debated in public, both on group calls and online forums, until a clear course of action emerges.

Independent development teams then agree on shared specifications, which are coded into new versions of their respective Ethereum clients.

Ultimately, operators of thousands of validators must concur to install the new software versions at sufficient scale to successfully initiate a hard fork at an agreed upon date.

The next such upgrade, Pectra, is tentatively scheduled for Q4 2024.

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Vitalik rallies support for temporary smart wallets on Ethereum - Blockworks