From Cointelegraph

May 2, 2025 10:30 am:

US-based investment adviser firm Two Prime has dropped support for Ether and adopted a Bitcoin-only strategy after lending $1.5 billion in loans in both Bitcoin and Ether over the past 15 months. Two Prime cited ETH’s poor performance and unpredictable trading behavior as reasons for the shift.

Two Prime’s decision comes as ETH has lost 45% of its value year-to-date, prompting speculation of a potential bottom and reversal. The firm mentioned that Ether no longer trades predictably and behaves more like a memecoin than a traditional asset, making it challenging for algorithmic trading and lending.

Founded in 2019, Two Prime is a registered investment advisory firm offering trading and lending services for both Bitcoin and Ether. The firm’s critical remarks about Ether sparked responses from the community, with many viewing it as a potential bottom signal for the cryptocurrency.

Two Prime also mentioned the weak performance of Ether exchange-traded funds (ETFs) compared to Bitcoin, with BTC ETF buying outpacing ETH by almost 24 times. Despite Ether ETFs underperforming, Ether remains the largest altcoin for crypto ETFs in terms of assets under management.

Following approval from the US SEC in May 2024, spot Ether ETFs saw a slow start in 2024 with low investor demand. Some issuers, like VanEck and WisdomTree, ceased trading or withdrew their Ethereum ETF proposals due to lackluster performance. ARK also liquidated its futures ETFs for both Ether and Bitcoin in March 2025. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling over 500 points. This was due to concerns over rising inflation and interest rates, causing investors to sell off their shares.

2. The number of COVID-19 cases in the United States has reached a new daily high, with over 100,000 new infections reported. This increase has been linked to the spread of the Delta variant and a decrease in vaccination rates.

3. The latest unemployment report shows that jobless claims have dropped to their lowest level since the start of the pandemic. This is a positive sign for the economy, indicating that businesses are hiring and people are returning to work.

4. The housing market continues to boom, with home prices reaching record highs in many areas. Low mortgage rates and high demand have fueled this trend, making it a competitive market for buyers.

5. Tesla has announced plans to build a new Gigafactory in Texas, which will focus on producing the Cybertruck and Model Y. This move is part of the company’s expansion efforts and commitment to increasing production capacity.

Read more at Cointelegraph

Bitcoin hits new all-time high of $64,863.10, surpassing previous record set in April. The cryptocurrency’s market cap reaches $1.2 trillion, while trading volume tops $73 billion. Analysts cite increased institutional adoption and growing interest from retail investors as key drivers of the rally.: Ether more ‘like a memecoin,’ says trading firm as ETH drops 45% YTD