Welcome to This Week in Crypto, where we break down the latest headlines shaping the world of digital assets. From protocol updates to billion-dollar moves, here’s what’s been making news across the crypto space.
Here’s a quick look at what’s new:
- Crypto funds pull in $1B: Weekly inflows continue, with Ether gaining ground and assets under management reaching new highs.
- Vitalik suggests Ethereum gas limit: A new proposal aims to cap how much gas a single transaction can use, improving network stability and efficiency.
- Dormant Bitcoin wallets move $2B: Two early wallets from 2011 transferred 20,000 BTC, raising questions but offering no clear answers about next steps.
Let’s get into the details and see what it all means for crypto this week!
Crypto Funds Bring in $1B as Ether Gains More Attention
Crypto investment products saw another strong week of inflows, totaling just over $1 billion. While Bitcoin still led the way, inflows into Ether exchange-traded products (ETPs) continued to grow for the 11th week in a row. Overall, assets under management in crypto ETPs hit a new high of $188 billion.
- Bitcoin brought in $790 million in inflows, though that’s a slowdown compared to the $1.5 billion weekly average seen earlier this month.
- Ether followed with $225 million in inflows and has had higher inflow rates (proportionally) than Bitcoin during this run.
- U.S.-based crypto funds accounted for the majority of activity, with over $1 billion in inflows last week.
Despite recent volatility, sentiment indicators remained in the positive range last week.
Vitalik Buterin Proposes Gas Limit to Improve Ethereum Stability
Ethereum co-founder Vitalik Buterin has introduced a new proposal to set a limit on how much gas a single transaction can use. The idea is to help protect the Ethereum network from overload, improve stability, and make it easier for certain types of smart contracts to run. The proposed cap would prevent any one transaction from using too much of the block’s total capacity.
- The suggested limit is 16.77 million gas per transaction, aimed at reducing risks from unusually large transactions.
- This could help prevent denial-of-service (DoS) attacks and support zero-knowledge virtual machines (zkVMs).
- Most existing Ethereum transactions already fall below this limit, so the change wouldn’t affect most users.
The proposal is still in early stages and would need community approval to move forward. It follows ongoing efforts by Buterin to simplify and strengthen Ethereum’s overall design.
$2 Billion in Bitcoin Moves from Wallets Dormant Since 2011
Two Bitcoin wallets that had been inactive for over a decade moved a combined 20,000 BTC last week—worth about $2.18 billion. The coins were originally acquired in April 2011, when Bitcoin was trading for less than $1. Blockchain data shows both wallets were funded on the same day from a single source, likely pointing to one owner.
- The estimated original purchase cost was about $15,610, meaning the coins have seen substantial value growth over time.
- One transfer was made to a legacy Bitcoin address format, while the other went to a modern SegWit address.
- The movement does not confirm a sale, and the coins have not been sent to any known exchange.
These transactions highlight continued interest in tracking older, long-dormant Bitcoin wallets. While the purpose of the transfer is still unknown, analysts say it’s possible the owner is reorganizing or preparing for future actions.
