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Ethereum (ETH) ETF Finally Approved

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Ethereum has followed in Bitcoin’s footsteps, as the Securities and Exchange Commission (SEC) has approved the first-ever Ethereum exchange-traded funds (ETFs).

This ETF approval marks a significant milestone for Ethereum and the broader digital asset industry, signaling growing institutional acceptance and mainstream integration.

Spot Ethereum ETFs Will Begin Trading On Tuesday

Firms such as 21Shares, Bitwise Asset Management Inc., BlackRock Inc., Invesco Ltd., Franklin Templeton, Fidelity Investments, and VanEck have confirmed that trading of the Spot Ethereum ETFs will commence on Tuesday. Investors can now gain direct exposure to Ethereum through a regulated financial product, potentially driving increased investment and liquidity in the market.

This progress results from persistent efforts to secure Ethereum ETF approvals, a path previously navigated by Bitcoin ETFs. Since January, Bitcoin ETFs have attracted significant investments from both retail and institutional sectors.

Read more: Ethereum ETF Explained: What It Is and How It Works

Despite these advancements, Ethereum’s market response was surprisingly subdued, with a price drop of 1.32%. This decline immediately followed the announcement, a typical ‘sell-the-news’ effect, where the price briefly dipped to $3,422 before settling at about $3,475. Given the significance of the SEC’s decision, this lukewarm response puzzled many investors and analysts.

Ethereum Price Performance
Ethereum Price Performance. Source: BeInCrypto

In an interview with BeInCrypto, Matteo Greco, Research Analyst at Fineqia, discussed that outflows are expected from ETFs initially, adding to selling pressure.

“It’s important to note that Grayscale Ethereum Trust (ETHE), which has been trading for years without redemption options for investors, may experience net outflows similar to those seen with Grayscale Bitcoin Trust (GBTC) when BTC Spot ETFs launched. ETHE will be a separate product from the new Grayscale ETH Spot ETFs (Ethereum Mini Trust), and initial strong outflows from ETHE may offset net inflows to the new products, following the pattern observed with BTC in January,” Greco told BeInCrypto.

Read more: Ethereum (ETH) Price Prediction 2024/2025/2030

In related news, Spot On Chain reported a significant transaction by an Ethereum whale – 0xf26. This investor deposited 8,762 ETH (valued at approximately $30.34 million) into Binance.

Previously, this whale had withdrawn 8,763 ETH from Binance at an average price of $3,882, estimating a cost of $34 million. Selling now would result in an estimated loss of $3.67 million, a substantial 10.8% decrease, after nearly two months.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. 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. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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How Did UPCX Lose $70 Million in a UPC Hack?

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UPCX suffered a major hack today, with 18.4 million UPC tokens stolen from its management accounts. This amounts to about $70 million dollars, and the price of UPC fell drastically.

The hackers stole more UPC than is currently circulating in the markets and haven’t offloaded any assets yet. It is unclear who did this or how they will be able to secure their gains in other assets.

UPCX Suffers Major Hack

Cyvers, a crypto security firm that has tracked and uncovered several major crimes, identified a serious hack this morning. Multiple suspicious transactions took place involving UPCX’s management account, and the firm acknowledged suspicious activity. UPCX didn’t go into great detail, only describing a few security measures, but Cyvers showed the extent of the hack:

“It appears that someone gained access to the address 0x4C….3583E, upgraded the ‘ProxyAdmin’ contract, and executed the ‘withdrawByAdmin’ function, resulting in the transfer of 18.4 million UPC (approximately $70 million) from three different management accounts,” Cyvers claimed via social media.

UPCX is an open-source crypto payment system, and this hack may represent a serious blow to the company. According to CoinGecko data, the hackers stole significantly more UPC tokens than are currently available, which is around 4 million. Naturally, this caused the price to drop significantly, in an immediate drop of over 4%:

UPCX (UPC) Price Performance
UPCX (UPC) Price Performance. Source: CoinGecko

Although a $70 million hack will certainly damage UPCX individually, it’s unclear if it will actually impact the broader market much. The largest hack in crypto history took place a little over a month ago, and the community is still assessing the fallout. Meanwhile, UPCX is comparatively tiny; less than 10,000 X users viewed its post admitting to the security breach.

Since the UPCX hack took place, the recipient account hasn’t moved any of its UPC tokens. Indeed, it may be difficult for the perpetrator to convert these assets into usable fiat in the first place. If the hackers stole nearly 5x the amount of UPC tokens in circulation, any attempt to liquidate them will crash UPC’s token price even further.

Ultimately, the UPCX hack is strange for several reasons. Despite a large dollar amount, it hasn’t attracted a huge amount of buzz or impacted the market outside UPC. Hopefully, further analysis will identify the perpetrators, and possibly freeze the assets. Otherwise, the threat of a future sale could hamper UPC’s recover for the foreseeable future.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. 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. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Struggles to Break Out as Bear Trend Fades

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Ethereum (ETH) enters the week with mixed signals as traders brace for tomorrow’s “Liberation Day” tariff announcement, a potential macro catalyst that could impact risk assets. While the BBTrend indicator remains deeply negative, it’s beginning to ease, hinting at a possible slowdown in bearish momentum.

On-chain data shows a slight uptick in whale accumulation, suggesting cautious optimism from large holders. Meanwhile, Ethereum’s EMA setup shows early signs of a trend reversal, but the price still needs to break key resistance levels to confirm a shift in direction.

ETH BBTrend Is Easing, But Still Very Negative

Ethereum’s BBTrend indicator is currently reading -11.66, slightly improved from -12.54 the day before, but still in negative territory for the second consecutive day.

The Bollinger Band Trend (BBTrend) measures the strength and direction of a trend based on how price interacts with the upper and lower Bollinger Bands.

A positive BBTrend suggests bullish momentum, with the price expanding toward the upper band, while a negative BBTrend indicates bearish momentum, with the price leaning toward the lower band. Typically, a value beyond 10 is considered a strong trend signal, making the current -11.66 reading a sign of continued downside pressure.

ETH BBTrend. Source: TradingView.

The persistent negative BBTrend suggests that Ethereum remains in a short-term bearish phase, with sellers still dominating the price action.

While yesterday’s slight uptick hints at a potential slowing of downward momentum, the indicator remains well below the neutral zone, meaning any reversal is still unconfirmed, despite Ethereum flipping Solana in DEX trading volume for the first time in 6 months.

Traders may interpret this as a warning to stay cautious, especially if ETH continues hugging the lower Bollinger Band. For now, price action remains fragile, and any bounce will need to be supported by a decisive shift in volume and sentiment to signal a meaningful reversal.

Ethereum Whales Are Accumulating Again

The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—has ticked up slightly, rising from 5,322 to 5,330 in the past 24 hours.

While this is a modest increase, whale activity remains one of the most closely watched on-chain metrics, as these large holders often influence market direction. Whales’ accumulation can signal growing confidence in Ethereum’s medium—to long-term prospects, especially during periods of price uncertainty or consolidation.

Conversely, a decline in whale addresses typically suggests weakening conviction or profit-taking.

Ethereum Whales.
Ethereum Whales. Source: Santiment.

Although the recent uptick is a positive sign, it’s important to note that the current number of Ethereum whales is still below the levels observed in prior weeks.

This means that while some large holders may be re-entering the market, the broader whale cohort has yet to fully commit to an accumulation phase.

If the upward trend in whale numbers continues, it could support a bullish shift in sentiment and price. However, for now, the data points to cautious optimism rather than a decisive reversal.

Will Ethereum Break Above $2,100 Soon?

Ethereum’s EMA lines are showing early signs of a potential trend reversal, with price action attempting to break above key short-term averages.

If Ethereum price can push through the resistance at $1,938, it may signal the start of a broader recovery, potentially targeting the next resistance levels at $2,104, and if momentum builds—especially with supportive macro catalysts—increasing toward $2,320 and even $2,546.

ETH Price Analysis.
ETH Price Analysis. Source: TradingView.

On the flip side, if Ethereum fails to maintain its upward push and bearish momentum resumes, the focus will shift back to downside levels.

The first key support sits at $1,823; a break below that could expose Ethereum to further losses toward $1,759.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Binance Megadrop Launches KernelDAO

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Binance Megadrop has announced its fourth project – KernelDAO (KERNEL), a restaking protocol supporting three key tokens Kernel, Kelp, and Gain.

Introduced in 2024, Binance Megadrop is a token launch platform that provides users with early access to promising crypto projects before their official listing.

KernelDAO and Binance Megadrop: Overview

KernelDAO is a restaking protocol that allows users to repurpose staked assets (such as ETH or BNB) to participate in other protocols, maximizing yield. The protocol launched its mainnet in December 2024.

The KernelDAO Megadrop event kicks off on April 1, 2025, and lasts for 20 days, rewarding participants with KERNEL tokens. Kelp, a KernelDAO component, manages over $1.15 billion in Total Value Locked (TVL) across 10 blockchains, including Ethereum and BNB Chain.

Kelp TVL. Source: DefiLlama
Kelp TVL. Source: DefiLlama

KernelDAO has a maximum supply of 10 billion KERNEL tokens. Binance has allocated 40 million KERNEL (4% of the total supply) for participants. Upon listing on Binance, the initial circulating supply will be 162,317,496 KERNEL (16.23% of the total supply).

After the Megadrop event, KERNEL will be listed on Binance Spot with trading pairs such as KERNEL/BTC, KERNEL/USDT, and KERNEL/BNB.

KernelDAO is the fourth project on Binance Megadrop, following Lista (LISTA) and Xai (XAI). Previously, Binance Labs invested in Kernel to build recovery infrastructure on the BNB Chain.

Binance’s inclusion of KernelDAO could contribute to the growth of the restaking sector. According to DeFiLlama, the total TVL of restaking protocols surpassed $15 billion in early 2025, with EigenLayer and Kelp leading the market.

With 40 million KERNEL tokens distributed through Megadrop, many participants may sell immediately after receiving their tokens, potentially creating downward price pressure. Additionally, increasing competition from protocols like EigenLayer could pose challenges for KernelDAO.

Additionally, not all projects listed on Binance have performed impressively. In 2024, Binance-listed tokens all fell, with 29 out of 30 tokens posting significant losses.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. 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. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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