Weekly Crypto Recap (Sep 30 - Oct 7)

Here’s your weekly update from Metaverse.SG, spotlighting the hottest crypto happenings of the week:

• BlackRock about Ethereum
• Market Decline
• DePIN is transforming the crypto market!
• Memecoins can turn $100 into $10,000!
• Gradient Airdrop will be HUGE!

Jump into the latest crypto buzz!

Market Overview
 

BTC-ETF: 

• Monday +$60M 
• Tuesday: -$240M
• Wednesday: -$91M 
• Thursday: -$54M
• Friday: +$25M

ETH-ETF: 

• Monday: -$0.8M
• Tuesday: -$48M
• Wednesday: +$14M 
• Thursday: -$3M
• Friday: +$7M

BlackRock’s Perspective on Ethereum: Educating Investors

BlackRock, the world’s largest asset manager, recently commented on Ethereum’s investment outlook, signaling that a major challenge for the cryptocurrency is the "narrative" surrounding its potential. Compared to Bitcoin, Ethereum’s more intricate technical framework and use cases, such as smart contracts and decentralized applications, make it harder for some investors to fully grasp its investment value. As a result, capital inflows into Ethereum ETFs remain significantly lower than Bitcoin ETFs. BlackRock noted that this trend is unlikely to shift in the near future, particularly without more investor education.

However, despite the lagging ETF trading volume, the demand for Ethereum ETFs remains promising. ETHA, a key Ethereum ETF, has reached over $1 billion in assets under management (AUM) in just seven weeks—a rare milestone in the ETF space. This demonstrates that while Ethereum’s narrative may be complex, institutional interest is steadily growing. BlackRock is addressing the issue head-on by ramping up educational efforts to demystify Ethereum’s value proposition and highlight its unique potential compared to Bitcoin.

The firm’s commentary aligns with broader market sentiment, where Ethereum’s multifaceted use cases continue to be recognized, yet Bitcoin remains the dominant player in crypto investment products. For many investors, Ethereum’s investment story requires deeper understanding, particularly in how it operates as a network for decentralized finance (DeFi) and smart contracts, which will shape future financial ecosystems.

Crypto Markets Plunge Amid Geopolitical Tensions

The recent outbreak of violence between Israel and Hamas has triggered volatility in global markets, sending ripples through the cryptocurrency space. Amid these tensions, Bitcoin experienced a sharp dip to $61,000, while Ethereum fell to $2,450, marking a significant downturn for both assets. This sell-off came alongside broader market declines, with stock markets registering their largest intraday drop in a month. The global market disruption underscores the sensitivity of cryptocurrencies to geopolitical events and investor sentiment.

Additionally, the situation worsened for many as Telegram, a popular platform among crypto traders and enthusiasts, experienced a major outage affecting users worldwide. Issues with loading media and delays in messages compounded the frustrations of investors already navigating the tumultuous market. While temporary, such outages can disrupt communication channels vital for real-time trading, further amplifying market uncertainty.

Despite the immediate downturn, analysts, including Pictet Asset Management, maintain that the long-term crypto bull market remains intact. According to Pictet, factors like global rate cuts, seasonal trends, and capital inflows will keep the bullish trend in motion despite short-term geopolitical disruptions. Investors are being advised to stay calm amid market noise, focusing on macroeconomic conditions that continue to favor the long-term growth of digital assets like Bitcoin and Ethereum.

DePIN is transforming the crypto market!

Memecoins can turn $100 into $10,000!

Gradient Airdrop strategy

Conclusion:

• Stay tuned

• Stay updated instantly on our X 👉 https://x.com/MetaverseSG.