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Are $1, $5 and $10 Technically Possible for Dogecoin with 146B Circulating Supply

Sam Wisdom Raphael
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Dogecoin has the potential to reach higher levels, but with a circulating supply of 146 billion tokens, proponents ponder where its ceiling could be.

The crypto market is one of opportunity, and investors often leverage this to anticipate rapid price surges. Dogecoin (DOGE), the original meme coin, pioneered the market genre in 2013 and was able to reach impressive heights during the 2021 bull run.

Dogecoin’s Historical Market Movements

Particularly, Dogecoin claimed a peak market cap of $98.4 billion in May 2021, when its price reached the all-time high of $0.7376 during that period amid persistent endorsements from Tesla CEO and billionaire Elon Musk.

The meme coin dropped from this lofty position as the bear market creeped in. However, it appears to be recovering. Notably, the closest Dogecoin has been to reclaiming its top valuation was when it rose beyond $0.43 last week, reaching a market cap of $64.4 billion.

An important aspect to note how its growing circulating supply would translate to higher market caps even with lower prices. Dogecoin’s inflation model adds 5 billion new tokens a year. As a result, the asset’s supply, which now sits at 146.84 billion, according to CoinMarketCap, could pose a problem to higher price spikes.

Notably, for the Dogecoin price to reclaim its previous highs, it would need higher capital now that its supply has increased. For instance, the $0.7376 all-time high price would require a market cap of $108.3 billion, no longer $98 billion, at the current supply.

Can Dogecoin Hit $1, $5 or $10 with Current Circulating Supply?

This has triggered concerns around the feasibility of Dogecoin reclaiming this peak. However, the prospect has not stopped some predictions around a possible Dogecoin rally to higher levels. One analyst recently discussed a price rally to $1 for Dogecoin.

However, with its 146 billion token supply, how technically possible is it for Dogecoin to claim the $1 mark or greater levels such as $5 and $10? At the $1 price, Dogecoin’s market cap would soar from the current $54 billion to a whopping $146 billion. Reaching this could prove difficult, but it remains feasible for the meme coin.

Meanwhile, the $5 might be more challenging. At its circulating supply of 146 billion tokens, Dogecoin’s valuation would spike to $734 billion, surpassing Ethereum’s market cap of $373.58 billion. This would make DOGE the second-largest crypto asset.

Further, the $10 price would take the meme coin’s market cap to a massive $1.46 trillion, close to Bitcoin’s current valuation of $1.788 trillion. While the $1 mark remains possible, higher prices like $5 and $10 might not be feasible in the current market cycle due to the massive capital required to reach the resulting market caps. 

Analyst Pinpoints Key Monthly Close for XRP to ‘Absolutely Rocket’

Sam Wisdom Raphael
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Analyst Pinpoints Key Monthly Close for XRP to ‘Absolutely Rocket’

King Solomon, a market analyst, highlights the important level XRP needs to close above on the monthly timeframe for a price explosion.

He mentioned this during his latest analysis of XRP’s price movements amid the recent consolidation phase that has persisted since Sunday. For context, XRP was one of the best movers last week, especially over the weekend.

The altcoin surged from $0.55 on Nov. 9 to a peak of $1.26 on Nov. 16. This represented an impressive 129% rally within a week, allowing XRP to finally reclaim the $1-mark for the first time in three years. 

However, after claiming the $1.26 top, XRP faced resistance and a subsequent pullback. Despite this, the bulls have zealously defended the $1-mark, holding above it as they anticipated the next bullish push to take prices higher.

XRP Needs to Claim and Hold Above $1.35

Nonetheless, this push has not yet materialized, with prices largely consolidating since the collapse from $1.26. Amid this consolidation, XRP has ranged between $1.006 and $1.19. Meanwhile, King Solomon believes this could be healthy for the altcoin.

In his latest analysis, he called attention to the $1.08 price level. According to him, this region is pivotal for XRP’s next bullish run. He asserted that XRP would “absolutely rocket” if it can successfully maintain this level and secure a monthly close above it.

XRP 1M Chart King Solomon
XRP 1M Chart | King Solomon

With XRP currently trading for $1.1020, the altcoin just needs to defend against a drop below the $1.1 level should another market correction occur. 

However, to be conservative, King Solomon bumped his target level to $1.35. This suggests XRP might have to rally toward the Fibonacci 1.618 level around $1.3457 and hold above it before November closes in the next nine days.

While the market analyst failed to provide any definite price goals, previous analyses have presented topside targets for XRP above $1. 

The Crypto Basic confirmed on Nov. 16 that once XRP breaches $1.3457, its next target would be $1.87 at Fib. 2.618 before it aims for the $2.4 level, above the 2021 peak of $1.96. Market veteran Brandt asserted that a push above $1.96 would set XRP up for an explosive run.

XRP Forms Bull Flag

Meanwhile, in the short-term, XRP appears to have formed a bull flag pattern on the daily chart. The pennant of the pattern formed as XRP dropped from $1.26 on Nov. 16 and has continued to consolidate. 

If the bulls do not engineer a rally soon, XRP might trade in a range for four more days before reaching the apex of the pennant. However, a break above the pennant could bring XRP face-to-face with the resistance at the upper Bollinger Band ($1.13) before a push to $1.35 can materialize.

XRP 1D Chart 2
XRP 1D Chart

Also, an important indicator to pay attention to is the RSI, which still stands at 82.36, suggesting that the bullish momentum is still prevalent. Nonetheless, this also indicates that XRP is still overbought and another pullback could ensue if bears mount control. Should this occur, the bulls need to defend $1.0373.

‘Should XRP Holders be Worried,’ Analyst Predicts XRP Next Direction

Sam Wisdom Raphael
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‘Should XRP Holders be Worried,’ Analyst Predicts XRP Next Direction

Market analyst The Block Bull recently predicted the next direction for XRP, citing historical data from the 2020/2021 cycle.

His market commentary comes at a time when XRP is currently consolidating between $1.0061 and $1.19 following a drop from the recent $1.26 peak on Nov. 16. Amid this consolidation, investors wonder if the next direction will be up or down.

Drawing comparisons from the 2020/2021 cycle and incorporating elements from the 2017/2018 cycle, The Block Bull presented a path for XRP’s next moves. Currently, XRP trades at $1.11, but opinions around its next direction remain contested.

XRP Might Follow the 2021 Fractal 

In his latest analysis, The Block Bull used fractals, patterns from historical price movements, to forecast XRP’s trajectory. According to him, while history doesn’t exactly repeat, it often rhymes. 

XRP Historical Cycle The Block Bull
XRP Historical Cycle | The Block Bull

This is obvious in the way certain price actions mimic earlier cycles to mark important highs and lows. He aligned XRP’s current price movements with the 2020/2021 cycle and suggested that the token might follow a similar path, albeit with variations.

On the hourly and weekly timeframes, XRP appears to be forming a pattern with three distinct peaks. The analyst noted the importance of observing these peaks on smaller timeframes, as they tend to inform movements on the macro chart. 

XRP 1H Chart The Block Bull
XRP 1H Chart | The Block Bull

Based on these patterns, he predicts XRP could reach $1.18 to $1.20 in the coming days. If the token successfully breaches these levels, the next target could be $1.96. The Block Bull expects XRP to aim for the $1.96 target next week, by Nov. 24.

He based this prediction on historical analysis. During the 2020/2021 cycle, XRP experienced a similar trajectory. However, he warns that after touching $1.96, the market may witness a sharp capitulation, potentially driving XRP’s price down to $0.50 before a major breakout occurs.

Elements from the 2017/2018 Cycle 

The Block Bull highlights that the current market cycle is not just following the 2020/2021 session, but a hybrid of the 2017/2018 and 2020/2021 cycles, allowing XRP to push beyond the $1.96 peak of the 2021 season.

While the 2020/2021 fractal provides immediate guidance, he adds movements from the broader trends of the 2017/2018 supercycle. This suggests that XRP is building toward a long-term bullish move after moving through consolidation and corrections.

He also called attention to a seven-year symmetrical triangle on the macro timeframe, which further supports the idea that XRP adds some elements from the 2017/2018 cycle. The buildup within this pattern indicates an impending breakout.

The Block Bull urged investors to focus on XRP’s short-term movements, particularly whether it surpasses the $1.18 to $1.20 range. Breaking this level could trigger a rally to $1.96. 

However, investors should also prepare for a potential correction after this rally. The dip to $0.50 would present a buying opportunity before XRP embarks on its next bullish run, which could surpass the 2021 peak of $1.96.

Top Holder Keeps Solana Until It Hits $5,000, But There’s a New Rival

Mark Brennan
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Top Holder Keeps Solana Until It Hits $5,000, But There’s a New Rival

Solana (SOL) has become one of the most talked-about cryptocurrencies in recent months. Its price now sits at $235.95, and many people are confident it will grow much more. Some experts believe Solana crypto could hit a massive milestone of $5,000 in the future. This prediction is bold, but supporters say it’s possible due to Solana coin’s speed, low fees, and rising popularity.

However, there’s a twist. A new cryptocurrency, Minotaurus (MTAUR), is on the horizon. Some believe this rival could reach 5,000 USDT even faster. This competition has caught the attention of many in the crypto world, making the race more exciting.

Solana’s Path to $5,000. What Does the Future Hold?

The current Solana price of $235.95 reflects steady growth over the years – there have been big leaps and steady bearish pressure in the past. With a market cap of $111.99 billion, Solana USD is ranked as one of the top cryptos globally. Those watching the Solana price prediction are optimistic that it could eventually reach $5,000, although it will require significant growth.

One reason behind the optimism is Solana coin’s ability to handle many transactions quickly. Its blockchain is known for being fast and efficient, which attracts developers and businesses. As more people use the Solana wallet for decentralized apps, the demand for Solana token is likely to grow.

To hit $5,000, Solana crypto would need to increase by more than 2,000%. This might seem like a lot, but supporters point out that other cryptos have seen similar jumps in the past. Solana news about partnerships and new projects often boosts community confidence, adding momentum to the Solana price prediction.

Despite recent dips, Solana price remains stable, and analysts believe it has the potential for long-term success. Its position as a leader in the DeFi space and its growing adoption make Solana USD price one to watch.

Minotaurus (MTAUR): A Smart Addition for SOL Holders?

While Solana has the loyalty of many, Minotaurus (MTAUR) is drawing in new fans daily with its ongoing presale. At just 0.00005984 USDT, today’s price is 70% less than the listing price of 0.00020 USDT. Those who joined at the start for 0.000040 USDT are already seeing 50% growth, and the presale is still gaining momentum.

This isn’t just about buying tokens. It’s about joining a game that’s revolutionizing casual gaming. Use MTAUR to unlock unique features and dominate the maze. The gaming market is booming, and Minotaurus is set to ride that trend.

The presale has already crossed 200,000 USDT, with new people joining every day. A 100,000 USDT giveaway and community bonuses make it even more exciting. Don’t miss your chance—secure your MTAUR before the presale ends and the price goes up!

Conclusion

Both Solana and Minotaurus (MTAUR) have great potential to grow. The Solana price has already shown its strength, with predictions that Solana USD could reach $5,000 in the coming years. Its fast transactions, growing ecosystem, and active community give it a strong foundation.

At the same time, MTAUR is creating buzz as a new competitor. With every passing week, the projections seem to get more and more positive. Targeting a booming market and offering tons of perks, Minotaurus is shaping up to be a can’t-miss opportunity. With the presale wrapping up soon, now’s the perfect time to get in.

The Brazil Central Bank Taps Chainlink in New CBDC Trade Settlement Program

Elendu Benedict
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The Brazil Central Bank Taps Chainlink in New CBDC Trade Settlement Program

Brazil’s central bank, Banco Central do Brasil (BCB), has tapped crypto project Chainlink in its latest push to use CBDC to foster international transactions.

The partnership also involves major firms like Microsoft, the Hong Kong Monetary Authority (HKMA), Banco Inter, and 7COMm. Notably, it aims to enhance Brazil’s central bank digital currency (CBDC) to facilitate swift cross-border transactions.

Brazil Launches Phase 2 of Its CBDC Pilot Program

BCB’s Drex pilot program has entered its second phase, tapping key players in each sector to automate supply chain management and enhance cross-border transfers. The Brazilian Central Bank sees the pilot as an avenue to leverage blockchain technology to address the country’s inefficiencies in international trade settlements.

Per the release, the BCB tapped Chainlink to provide Cross-Chain Interoperability Protocol (CCIP) to establish synergy between the bank and the central banks of other countries for cross-border transactions. Chainlink intends to provide this feature by tokenizing an Electric Bill of Lading (eBoL) on the blockchain and using it to make on-chain settlements for purchased commodities.

Chainlink will also provide Delivery versus Payment (DvP) and Payment versus Payment (PvP) options. The DvP transaction settlement allows commodity delivery only after payment confirmation, while PvP ensures payments across countries.

Strategic Partnership to Boost Brazil’s Economic Health

Digital bank Banco Inter, which has over 31 million users, will drive the adoption of the blockchain technology. Reacting to the announcement, the firm’s head of emerging technologies, Bruno Grossi, stated that the collaboration is an “exciting moment for Brazil.”

Grossi insisted that the collaboration with Microsoft and Chainlink is a transformative opportunity for Brazil, which looks to leverage blockchain technology to expand its market coverage. He noted that the Brazil-based firm is excited about the opportunity and anticipates an innovative endgame.

Microsoft expressed confidence in the collaboration’s ability to boost Brazil’s economy. The software firm noted it would provide the technology needed to push the Drex pilot to fruition.

Meanwhile, Chainlink would face serious contentions in its CBDC venture as Ripple is a notable name in the sector. Notably, Ripple announced earlier in the year that it is collaborating with ten governments on the CBDC initiatives.

Whale Accumulation Rises Amid Bitcoin Options ETF Launch as BTC Hits $94K ATH

Albert Brown
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Whale Accumulation Rises Amid Bitcoin Options ETF Launch as BTC Hits $94K ATH

The recent launch of Bitcoin ETF options has spurred whale activity, pushing BTC to a new all-time high.

Bitcoin surged past $94,000 on Tuesday, achieving an all-time high as BlackRock launched new Bitcoin exchange-traded fund (ETF) options. The development has reignited interest in crypto markets, with analysts pointing to the ETF’s success as a catalyst for further price increases.

Additionally, Grayscale Investments has also revealed plans to introduce options trading on its spot Bitcoin ETFs, set to launch on Wednesday.

Bitcoin Whale Activities Amid Options ETF

Amid these institutional activities and the surge in BTC’s value, on-chain insights platform Spot On Chain highlighted a rise in whale accumulation. For instance, a notable wallet identified as “bc1qc” withdrew 750 Bitcoin tokens worth $68.9 million from Binance within 24 hours. 

When Bitcoin is withdrawn from exchanges, it indicates that holders are likely moving their assets to private wallets.

The transactions included three separate inflows: 300 BTC  valued at $27.98 million, 250 Bitcoin worth $23.31 million, and 200 Bitcoin totaling $18.65 million. The wallet’s total holdings now stand at 24,660 Bitcoin, equivalent to $2.3 billion. Notably, the portfolio’s value increased by 0.311% on the day.

Meanwhile, a group of six first-time wallets collectively withdrew 500.2 Wrapped Bitcoin (WBTC), valued at $46.3 million, from Binance. These withdrawals occurred at an average price of $92,599 per WBTC. Notably, the funds were transferred to Aave via subsidiary wallets, marking a strategic shift in allocation.

Pre-option ETF Launch Engagement

The activity seen in the past 24 hours aligns with a broader accumulation trend among whales. Two days earlier, a whale associated with a $33 million unrealized profit withdrew 75.8 WBTC worth $6.96 million from Binance. Historical data reveals this entity has acquired a total of 1,368 WBTC since July 4, at an average price of $67,598, resulting in an unrealized gain of 35.5%.

This pattern suggests sustained whale engagement, with Binance serving as a key liquidity hub. Most tokens from these transactions were supplied to Aave, consolidating strategic holdings in decentralized finance platforms.

As of today, Bitcoin has traded at $93,699.96, reflecting a 1.18% increase in 24 hours and a 6.69% rise over the past week.

Top Analyst Says Cardano Could Overtake Ethereum

Abdulkarim Abdulwahab
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Top Analyst Says Cardano Could Overtake Ethereum

Leading analyst Dan Gambardello predicts Cardano (ADA) could surpass Ethereum, citing key partnerships and technical developments driving its growth.

With recent price movements and fundamental developments fueling bullish investor sentiment, Cardano has gained momentum. Gambardello, a well-known Cardano analyst, believes the market is still underestimating ADA’s potential, urging the community to adjust its outlook in light of recent developments.

Major Cardano Partnerships Fueling Bullish View

First, Gambardello pointed to potential collaborations with Bitcoin, Ripple, Stellar, and Dogecoin, which could position ADA as a key player in the crypto ecosystem. He referenced recent posts from influential figures like Jed McCaleb, founder of Stellar, and Ripple CEO Brad Garlinghouse, who have expressed positive sentiments about Cardano’s future.

Notably, Charles Hoskinson, Cardano’s founder, has been proactive in fostering these relationships. He recently stated his plans to hire a dedicated team to make Cardano the dominant platform for Bitcoin DeFi.

This move seeks to leverage Bitcoin’s capital base while integrating ADA into decentralized finance, which could bring substantial volume to Cardano’s ecosystem. Gambardello calls this a “game-changing approach” that underscores ADA’s long-term potential.

Cardano to Overtake Ethereum

Interestingly, he argued that Cardano’s partnerships with Bitcoin and other major networks are incredibly bullish factors that could allow ADA to surpass Ethereum in the coming years.

Looking at Cardano from the Technical Side

On the technical side, Gambardello highlighted ADA’s attempt to break out of a symmetrical triangle pattern with a potential target of $0.90. While this short-term technical analysis shows promise, he advised caution.

Gambardello acknowledged that ADA could face some consolidation soon, pointing to a possible pullback to the $0.58–$0.60 range before continuing its upward trajectory. This comes after multiple days of green candles. 

The analyst noted that the projected resets are necessary for sustainable growth, aligning with similar patterns observed in previous cycles.

Essentially, Gambardello remains confident in ADA in the long term amid the project’s fundamentals and recent developments. In his words, “the current macro landscape for Cardano is incredibly strong,” and he believes patience will reward long-term investors.

With the bull run entering a new phase, Gambardello believes ADA is poised to become a leading force in the market.

At press time, Cardano is trading at a multi-year high of $0.8331, following a 14% surge in the last 24 hours. These gains further amplify ADA’s impressive two-week performance, showing a 134% growth.

XRP Reaches $1 Before Dogecoin and Cardano, What’s Next 

Lele Jima
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XRP Reaches $1 Before Dogecoin and Cardano, What’s Next 

With XRP soaring past $1 ahead of Cardano and Dogecoin, discussions have emerged regarding whether it could challenge Ethereum as the second-largest crypto asset.

XRP stunned the crypto market over the weekend after it soared past $1, ahead of Cardano (ADA) and Dogecoin (DOGE). Before this surge, the crypto community had been entangled in a debate regarding which assets among XRP, ADA, and DOGE would first hit the $1 mark. 

XRP Hits $1 Before ADA and DOGE 

For context, both XRP and ADA had traded above $1. However, they plunged below this level due to a broader sell-off that started immediately after the 2021 bull run.  

While ADA and DOGE first saw a significant uptick recently, XRP hovered around the $0.57 mark for several days. Consequently, DOGE surpassed XRP in the global crypto ranking, pushing it to the eighth position. 

Interestingly, things changed for XRP following reports that Ripple CEO Brad Garlinghouse met with U.S. President-Elect Donald Trump. This triggered speculations of an imminent resolution of the Ripple lawsuit. Amid the speculation, XRP rallied tremendously, spiking above $1 for the first time since 2021. 

Ever since, XRP has surpassed Dogecoin, cementing its position as the sixth-biggest cryptocurrency with a $62.2 billion market cap.  

XRP and ETH Rivalry  

Following XRP’s remarkable performance, there are speculations that it could be aiming to challenge Ethereum (ETH) for second place. 

In 2014, XRP was ranked as the second-biggest cryptocurrency by market cap, just behind Bitcoin. It maintained this position until Ethereum launched the following year, putting both assets in a tight contest for second place. 

However, Ethereum gained complete control of the second position in June 2018 after former SEC Director William Hinman declared ETH a non-security. Things worsened two years later when the SEC charged Ripple with violating federal securities laws through its past XRP sales. 

This pushed XRP to the seventh position last year, with Dogecoin recently extending the asset’s ranking to the eighth spot. With the recent rally, XRP looks set to rechallenge Ethereum for the second position. 

Can XRP Reclaim Second Position from Ethereum?

XRP’s potential climb to the second position in the global crypto ranking would be challenging. Currently, Ethereum is the second-biggest cryptocurrency, with a market cap of $376.45 billion. 

This suggests that XRP’s market cap must grow by 505.22% to reach ETH’s $376.45 billion valuation. A growth rate of this magnitude would take XRP’s price to around $6.59 from the current level of $1.09, assuming the coin’s circulating supply remains fairly constant at 56.93 billion. 

While XRP’s surge to the $1 mark bolsters investors’ confidence in the asset, challenging Ethereum for the second position requires the alignment of several initiatives, ranging from institutional adoption to regulatory clarity. 

Interestingly, XRP received the highly anticipated clarity in July 2023 when a federal court labeled it a non-security. Furthermore, strong institutional demand for XRP is expected to follow suit should the U.S. SEC approve the launch of one or more ETFs tied to the asset. 

Despite this, it remains unclear whether XRP can challenge ETH for second place in the global crypto ranking. XRP’s future price actions will be instrumental in determining whether it can pose a threat to Ethereum. 

Analyst Says He Does Not Understand the Hate on Cardano, Maintains $6 ADA Target Amid 140% Spike

Sam Wisdom Raphael
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Analyst Says He Does Not Understand the Hate on Cardano, Maintains $6 ADA Target Amid 140% Spike

An analyst has called attention to what he believes is underserved hate toward Cardano, maintaining his $6 price target amid a recent 140% surge. 

Ali Martinez, a market veteran, had previously forecasted in late October that ADA could record an impressive move. Despite receiving backlash and bearish criticism, the recent price action suggests that his predictions are unfolding as expected.

On Oct. 29, Martinez analyzed a chart comparing ADA’s historical price movements to its current trajectory. His analysis suggested that Cardano might replicate its performance from 2020. 

Initial ADA Analysis

Data from the chart shows that from 2018 to early 2020, ADA traded within a tight accumulation range. Following the COVID-19 crash in March 2020, ADA staged an impressive 75% recovery. 

However, after this 75% upsurge, Cardano witnessed a steep 56% correction before it resumed the uptrend. The new uptrend culminated in a meteoric 4,095% price increase, ultimately leading to the ATH above $3 by 2021.

Cardano 1W Chart Ali Martinez
Cardano 1W Chart | Ali Martinez

Martinez highlighted similarities between the 2020 accumulation phase and ADA’s price action from 2023. From mid-2022 to late 2023, ADA fluctuated within a similar horizontal range for 455 days. 

However, the token eventually rallied during the first phase of the bull run from Q4 2023 to Q1 2024, rising 75% to $0.81 in March 2024, exactly as it did in late 2020. This mirrored its earlier pre-bull phase, suggesting a major breakout was imminent. 

The chart also highlighted a downside of 65.93% from March to August 2024 which followed the 75% increase. Despite this drop, Martinez said in late October that Cardano was on the verge of repeating the massive uptrend from the previous cycle. 

He predicted that Cardano could record an impressive surge by Nov. 18, two weeks after the U.S. elections on Nov. 5, with a target peak around September 2025. At the time of his initial analysis, Cardano was changing hands at $0.345.

Latest Cardano Outlook

Interestingly, the current market trajectory already has followed Martinez’s theory. As of Nov. 20, just weeks after the U.S. elections, ADA has risen 140% from the Oct. 29 levels. 

Most of these gains occurred immediately after the elections, with ADA recently surging past the $0.81 resistance level. This price spike confirms the bullish momentum Martinez anticipated.

In the latest analysis, he maintained his projection that Cardano’s current rally could mirror its 2020-2021 performance. If history repeats, the chart suggests a potential climb to $6.6, which would mark a 2,288% surge from recent levels. This forecast places ADA near an all-time high by September 2025. 

Despite his accurate predictions, Martinez faced skepticism when he initially shared his analysis. Many dismissed the potential for ADA’s recovery, instead emphasizing bearish sentiment in the market. 

In his recent update, he expressed frustration over the backlash, noting that he does not understand why Cardano attracts so much hatred. He urged traders to focus on actionable opportunities rather than emotional biases. At press time, Cardano trades for $0.8305.

21Shares Ethereum ETP Rebrands to Allow Staking Services

Elendu Benedict
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21Shares Ethereum ETP Rebrands to Allow Staking Services

Leading exchange-traded product issuer 21Shares AG has rebranded its Ethereum product to include staking services for investors.

21Shares AG announced today that it has upgraded its European-traded Ethereum Core ETP.  The asset manager called its new version the Ethereum Core Staking ETP, providing fund holders with staking functions.

With the update, holders of the Ethereum ETP—with ticker ETHC—can now stake their stash for rewards. This allows users to profit on two fronts: holding the ETP that tracks Ethereum’s performance while also reaping staking rewards.

Low Expense Rate, More Profitability

Per the announcement, 21Shares noted that its Ethereum ETP would maintain a competitive total expense ratio (TER) while providing users with alternative means to earn more from holding the fund. Notably, the fund charges a management fee of 0.12%, one of the lowest in the ETP market.

Meanwhile, the Ethereum Core Staking ETP is available for trade on major European exchanges, including the SIX Swiss Exchange, Euronet Amsterdam, Euronet Paris, Deutsche Borse Xetra, and the London Stock Exchange.

0% Management Fee

Reacting to the update, 21Shares’ CEO, Tom Wan, noted that the staking could mean zero management fees for investors. He emphasized that the staking yield on Ethereum is about 3.2%, and even if the issuer invests 25% of the total asset, it will still cover the management fees investors pay.

Furthermore, Wan stated that 21 Shares’ debut of staking services could improve the overall amount of Ethereum staked. The CEO noted that asset managers like VanEck and Bitwise are already big on staking, and a combined force from ETPs could add 500,000 to 1.3 million ETH to the staked Ethereum volume.

Meanwhile, efforts to bring staking services to the United States have yet to yield fruit. The US Securities and Exchange Commission (SEC) has rejected efforts to launch staking services for Ethereum ETPs, citing market manipulation and risks to investors.

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