Two of the largest cryptocurrencies destroy a portion of every transaction fee incurred on their blockchains. But contrary to what most investors expect, those mechanisms aren’t meaningfully boosting returns for holders. Standard Chartered’s bull case rests on Ethereum’s grip over two of the fastest-growing segments in crypto. Standard Chartered projects the stablecoin market cap will increase sixfold from current levels by end-2028. “ETH will catch up to the internal metrics, it is just a matter of time,” Standard Chartered analyst Geoffrey Kendrick said over email.
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- The biggest Ethereum upgrade since The Merge, the Shanghai Upgrade will allow ETH stakers to unstake their ETH and withdraw ETH rewards from the Beacon Chain.
- Stablecoins parked on Ethereum stayed near $158 billion, down just 2% on the week.
This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Alongside the treasury update, Bitmine said it recently closed a public offering of 3.5 million shares of its 9.50% Series A Perpetual Preferred Stock, raising over $273 million in net proceeds. The preferred shares are expected to begin trading on the New York Stock Exchange (NYSE) under the ticker “BMNP” on Tuesday.
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U.S. spot Bitcoin ETFs were already on a record streak when last week ended, and they have now extended it further. The 10-day outflow run that closed May has stretched to 13 trading days as of June https://rovencrest-peak.com/ 3, deepening what was already the longest withdrawal streak since the funds launched in January 2024. The structural bid that had supported Bitcoin through every previous selloff is now selling instead of buying. Solana took the hardest single-day hit of the four cryptocurrencies. SOL is down 4.6% in 24 hours alone and 20.9% over the past month, now trading at $68.38. High-beta altcoins like Solana and XRP amplify Bitcoin’s moves, and on the way down, that means they fall steeper than the rest of the market.
As more ETH is staked, individual rewards decrease, creating a natural balance. This design ensures a sustainable security budget well into the future, without relying solely on transaction fees. At the heart of all this is Ethereum’s native cryptocurrency ether (ETH), a new kind of digital money used to power the whole network.
Ethereum 2.0
Smart contracts let anyone create their own digital assets and decentralized applications (dapps) that run 24/7, globally. And unlike banks, corporations or other institutions, smart contracts are available to anyone with an internet connection. But even at 10 times the network’s current daily volume, the burn rate will barely scratch its 62 billion XRP in outstanding supply. Then, the March 2024 Dencun upgrade slashed gas fees for Layer-2 (L2) networks, thereby pulling most activity off the Ethereum mainnet and onto those L2s, where transactions could https://rovencrest-peak.ca/ be processed more efficiently. This is a major reason the average fees paid on Ethereum are down 97.5% over the last five years.
Ethereum ETF Outflows Continue To Pressure ETH Price
The average June return for ETH since 2016 sits at -6.74%, with a median of -5.65%. The question now is whether the ETF bleed extends into June or pauses long enough for the chart pattern to resolve. The network’s competitors, save for the largest players, are overwhelmingly not able to bring similar resources to bear to shore up the security of their own (smaller) DeFi ecosystems. So there likely isn’t a safer place for capital to flee to and still remain in crypto. All opinions and insights shared represent the author’s own views on current market conditions.
The whales took some profits along the way but added more on net even as price fell 12% over the same window. The fingerprint of ETF flows on monthly performance has been clean throughout 2026. March outflows were near-neutral at -$46.01 million and ETH closed +7.07%. April flipped to +$355.98 million in net inflows and ETH gained +7.38%.
Despite the tip option for miners, their profits would reduce drastically. In addition, the introduction of burning ETH from transaction fees could make ETH a deflationary asset over time. The London Hard Fork brought about five new Ethereum Improvement Proposals (EIPs) on August 5, 2021, in preparation for Ethereum 2.0. The other two were EIP-3529 to reduce EVM gas refunds and EIP-3198 to return the base fee from a block. Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet.