Ethereum
Why Ethereum is up 3.2% today
Analysis
Ethereum (ETH) rose 3.2% over the past 24 hours despite some headline-driven supply concerns. Markets appeared to look past reports that BlackRock sold a combined $257 million in Bitcoin and Ethereum via ETF flows (U.Today), while attention shifted to ecosystem activity after Espresso Network launched its ESP token with a 10% airdrop amid ongoing layer-2 discussions (CoinDesk).
Contributing Factors (3)
$257 Million in Bitcoin and Ethereum Sold by BlackRock
BlackRock has sent another $257 million in BTC and ETH to Coinbase amid market rebound.
Espresso network launches ESP token with 10% airdrop amid Ethereum layer-2 debate
The network transitioned to proof-of-stake and coincides with the rollout of the ESP token, which is used for staking, securing the network and protocol participation.
Wallet tied to $200M Mixin Network hack moves ETH after over two years of dormancy: onchain data
Over two years after stealing $200 million from Mixin Network, an onchain hacker has deposited illict funds on Tornado Cash and sold ETH.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.