Here's Why Ethereum Didn't Skyrocket on ETF Launch, Shibarium Eyes Historic Milestone, Binance to Delist MATIC, AVAX and VOXEL Pairs: Crypto News Digest by U.Today

Check out the top three news stories brought to you by U.Today.

Here's why Ethereum didn't skyrocket on ETF launch

Despite the community's excitement and hope that Ethereum's price would go "to the moon" following the launch of Ethereum ETFs, the second largest crypto fell short of investors' expectations. Moreover, ETH is currently down 7.78% over the past 24 hours, trading at $3,157. Several factors contributed to this sudden price shift. First, the buzz around the launch of the Ethereum ETF may have created a buy-the-rumor, sell-the-news situation. If ETH investors had accumulated ETH ahead of time, they might have liquidated their holdings to benefit from the ETF debut. Second, even though the ETF's launch attracted the attention of institutions, it also highlighted the lack of new retail investors entering the market; a bullish trend must be maintained by a balance between institutional inflows and retail participation.

Shibarium eyes historic milestone as SHIB price sell-off grows

According to data provided by the Shibariumscan.io website, Shibarium, the layer-2 solution of Shiba Inu, is inching closer to achieving a major milestone. As can be seen on the website's main page, Shibarium's total block count currently stands at 5,952,363, with just a few more blocks remaining to hit the 6,000,000 milestone. With this achievement looming, Shibarium has recorded much success since its launch in August last year. Ideally, the growth of Shibarium is supposed to trigger a rise in the price of Shiba Inu (SHIB). However, the opposite picture is seen on the chart, and the meme token is changing hands at $0.00001626, down 5.95% over the past 24 hours at the moment of writing.

Related

Wed, 07/24/2024 - 11:25

Shiba Inu (SHIB) Might Be on Verge of Big Move, Key Level to Watch

Tomiwabold Olajide

Binance to delist MATIC, AVAX and VOXEL pairs

According to a recent announcement made by Binance, it will remove and cease trading on the following spot trading pairs: AVAX/TUSD, MATIC/TUSD and VOXEL/BTC. The removal is set to take place on July 26, 2024, at 3:00 a.m (UTC). Binance warned its users that the availability of the tokens on Binance Spot is unaffected, and users can trade them on other available pairs within the exchange. However, the exchange advised users to cancel any spot trading bot services connected to these pairs prior to their removal to avoid any potential loss. The reason for such a decision is Binance's policy that aims to ensure user protection and a high-quality trading market.