Ethereum ETFs are experiencing a surge in investor confidence, with Ethereum spot ETFs recording a $128.72 million net inflow on January 6. BlackRock's ETF ETHA contributed a notable $124.11 million of that total, boosting the fund's net assets to $13.47 billion, 3.03% of Ethereum’s market cap. Bitcoin ETFs are also seeing impressive gains, with $987.06 million in inflows on the same day. The Fidelity Wise Origin Bitcoin Fund (FBTC) led with $370.24 million, followed by BlackRock iShares Bitcoin Trust (IBIT) at $209.08 million.
$ARC Token ($ARC) has surged by 8.30% in the past 24 hours, now trading at $0.04088. This remarkable spike has drawn significant attention from traders and investors. The recent reward distribution, which saw $15,301 (4.121 ETH) awarded to 490 participants, has sparked excitement within the community. Additionally, $ARC's innovative use of artificial intelligence to enhance the user experience sets it apart from other tokens. Whether this is the start of a sustained bullish breakout or a temporary spike remains to be seen.
In a groundbreaking partnership, Bitstamp, the world’s longest-operating cryptocurrency exchange, has joined forces with Garanti BBVA Kripto, a subsidiary of Turkey’s largest private bank. This first-of-its-kind collaboration provides Turkish users with access to a range of approved cryptocurrencies via Bitstamp-as-a-Service. The alliance bridges the gap between traditional banking and digital assets, offering secure and regulated trading opportunities. As Turkey becomes a growing crypto hub, this strategic move promises to enhance the country’s crypto landscape and introduce seamless integration of conventional and digital finance.
Backpack Exchange has acquired FTX EU, the European branch of the defunct FTX Exchange, marking a significant step in its global expansion. Approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), the acquisition aims to dominate Europe’s regulated crypto market. Set to launch in Q1 2025, Backpack EU plans to offer innovative crypto products, including derivatives, with a focus on transparency and compliance. This acquisition fills the gap left by unregulated exchanges exiting Europe, bringing fresh opportunities to the region’s crypto sector.
Solana developers introduced a new hashing system, SIMD-215, to address scalability challenges caused by mass user adoption. The proposal, released on Jan. 6, features a "lattice-based homomorphic hashing function" aimed at tracking billions of accounts and computing the "hash of all accounts" more efficiently. Currently, recalculating account states becomes increasingly difficult as users grow. The upgrade would eliminate this issue by enabling instant verification and processing only changed accounts, improving scalability without requiring full global indexes of accounts. This move seeks to enhance Solana's overall performance.
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Sara Sethiya is an experienced crypto journalist with five years of experience in blockchain research, price movements, and market analysis. With a background in mass communication and journalism, she specializes in data-driven news articles, in-depth market reports, and SEO-optimized content. As a team lead and content writer at CoinGabbar, she examines on-chain metrics, evaluates liquidity trends, and analyzes tokenomics to uncover market patterns. Her analytical approach helps traders and investors interpret market shifts, identify potential opportunities, and understand the broader impact of blockchain innovations on the financial ecosystem.
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