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BTC rises to one-week high following Bessent remarks

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'Murban crude oil' surges past $100, posing risk to bitcoin and risk assets

With fears growing over the economic impact of surging oil costs, U.S. Treasury Secretary Scott Bessent said Thursday evening that the Trump administration is taking steps to promote stability and lower energy prices.

“To increase the global reach of existing supply, the U.S. Treasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea,” said Bessent in an X post.

“The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term,” added Bessent, suggesting market fears about the rise in oil prices were overblown.

Indeed, oil rose nearly 10% to nearly $100 per barrel on Thursday, helping to send the already slumping U.S. stock market to sharp losses.

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Bitcoin , which was able to hold the $70,000 level throughout most of the day, has jumped to just below $72,000 in the minutes following the Bessent post, now higher by 2.2% over the past 24 hours.

WTI crude oil has pulled back about $2 per barrel, currently trading at $95.22.

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Vitalik says Ethereum’s real value is a global shared data bulletin board

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ETH liquidation walls at $2,057–$1,863 set stage for violent move

Vitalik Buterin reframes Ethereum as censorship‑resistant “global shared memory,” with PeerDAS scaling its data layer for voting, identity, and on‑chain coordination.

Ethereum (ETH) co-founder Vitalik Buterin says the network’s real value lies in acting as a globally shared “bulletin board” for data availability, rather than just a smart contract or payments platform, sharpening the narrative around Ethereum’s role in the broader crypto stack.

Vitalik reframes Ethereum’s core value

In a new post on X, Buterin argued that Ethereum’s fundamental contribution is providing a publicly readable and writable data layer that cryptographic protocols can reliably anchor to. He highlighted that many high-value use cases—secure online voting, software version control, certificate revocation and more—depend on having an open, persistent data space rather than purely on complex smart contract logic.

Buterin framed ETH not only as a payment asset, but as a core instrument for Sybil resistance and as collateral for smart contracts, positioning it at the center of a decentralized, privacy-preserving, open-source technology stack. In his view, smart contracts and DeFi are extensions built atop this shared memory, not the base value proposition itself.

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PeerDAS, scaling, and “global shared memory”

Buterin also pointed to Ethereum’s PeerDAS upgrade as a key step in scaling this data availability layer, saying it already increases Ethereum’s data capacity by about 2.3x, with a path toward 10–100x gains over time. Improved data throughput, combined with lower fees, is meant to support a broader range of applications beyond DeFi, including governance systems, identity, and new classes of on-chain coordination tools.

He summed up Ethereum as a kind of “global shared memory,” where applications can reliably publish and read data in a neutral environment secured by ETH-based economic incentives. For developers and protocols, the message is clear: treat Ethereum first as a durable, censorship-resistant data availability layer, and only secondarily as a smart contract execution chain.

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BlackRock’s Staked ETH ETF Sees $15.5M on Debut

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BlackRock’s Staked ETH ETF Sees $15.5M on Debut

BlackRock’s staked Ethereum exchange-traded fund has tallied $15.5 million in trading volume on its first trading day, which a market analyst described as “very, very solid” despite falling short of two similar Solana staking products that launched last year.

Nasdaq data shows the iShares Staked Ethereum Trust (ETHB) had 592,804 shares traded on its debut on Thursday, with Bloomberg ETF analyst James Seyffart noting on X that the product turned over around $15.5 million.

“Very, very solid for a day 1 ETF launch,” Seyffart said.

The ETF invests and stakes Ether (ETH), locking up the tokens on the blockchain with the aim of providing a yield. The fund relies on network validators to capture staking rewards, typically offering a yield of 4% annually.

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Source: James Seyffart

ETHB’s $15.5 million in debut trading volume trailed similar staking funds tied to the Solana (SOL) token, including the $55.4 million in volume recorded by the Bitwise Solana Staking ETF (BSOL) when it debuted in October. Another similar fund, the REX-Osprey SOL + Staking ETF (SSK), also recorded $33.7 million on its debut in July.

ETHB adds to BlackRock’s crypto product lineup, which includes its two flagship crypto funds, the iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA). 

Related: Basic adds VanEck crypto ETFs to 401(k) plans amid US retirement shift

The two ETFs have respectively attracted over $62.8 billion and $11.9 billion worth of inflows since launching in 2024, Farside Investors data shows.