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Cryptocurrency News Articles
Digital Asset Investment Products Attracted a Total Inflow of $30 Million Last Week, With Bitcoin Leading the Charge
Aug 20, 2024 at 04:59 pm
According to a recent report from CoinShares, digital asset investment products attracted a total inflow of $30 million last week.
Digital asset investment products saw a total inflow of $30 million last week, according to a report from CoinShares.
Bitcoin led the inflows with $42 million, indicating renewed confidence among investors as the cryptocurrency continues to navigate the early stages of the post-halving cycle.
In contrast, Ethereum attracted a modest inflow of only $4.2 million.
According to CoinShares, digital asset investment products received a total inflow of $30 million last week, with $42 million flowing into Bitcoin and only $4.2 million flowing into Ethereum.
Due to a sharp drop in Memecoin trading volume, Solana had a net outflow of $39 million,…
— Wu Blockchain (@WuBlockchain) August 19, 2024
Meanwhile, Solana faced challenges with a net outflow of $39 million, marking the highest weekly outflow for the network. This outflow was primarily driven by a sharp decline in Memecoin trading volume, highlighting the volatile nature of the digital asset market and how shifts in investor sentiment can lead to rapid changes in capital flow.
It has now been 119 days since the 2024 Bitcoin halving. As highlighted by historical data, Bitcoin tends to reach a market top approximately 530 days following a halving event.
It's been 119 days since the 2024 #Bitcoin halving. In the last two cycles, $BTC hit a market top around 530 days post-halving.
If history repeats, we're still in the early stages of this cycle! pic.twitter.com/Yxxo7DLfsg
— Ali (@ali_charts) August 19, 2024
If this pattern holds true, we may still be in the early stages of the current cycle, with ample room for growth. Seemingly aware of this historical trend, investors are beginning to take on more risk, likely betting on a repeat of past Bitcoin bull markets.
We're Still in a Bull Market
“Investors are starting to take risks and bet as they have in past #bitcoin bull markets.” – By @t0_god
Read more 👇https://t.co/YJ9wHwgeN8 pic.twitter.com/c9uFvNySZc
— CryptoQuant.com (@cryptoquant_com) August 19, 2024
Suspicious Transfer Involving Over 4000 BTC to Monitor
In a related development, blockchain investigator ZachXBT reported a suspicious transfer involving 4,064 BTC (approximately $238 million).
The funds, which may be linked to victims of previous hacks, were moved across various platforms, including ThorChain, eXch, Avalanche Bridge, ChangeNow, Kucoin, and Railgun. Notably, two of the involved addresses were connected to Genesis Trading, with one holding 642.376 BTC (around $37.73 million) and the other 2,173 BTC (approximately $127 million).
According to ZachXBT, a suspicious transfer was made from a potential victim for 4064 BTC ($238M). Funds were transferred to ThorChain, eXch, Avalanche Bridge, ChangeNow, Kucoin, Railgun. https://t.co/XkDTNytBB9
— Wu Blockchain (@WuBlockchain) August 19, 2024
Last week also saw activity in the Bitcoin spot ETF market. Bitcoin spot ETFs had a net inflow of $32.58 million. Fidelity’s ETF FBTC led with an inflow of $82.11 million, followed by BlackRock’s IBIT with $71.07 million. However, Grayscale’s GBTC experienced a significant net outflow of $195 million, reflecting a shift in investor preferences within the ETF space.
Last week (August 12 to August 16, Eastern Time), Bitcoin spot ETFs had a net inflow of $32.58 million last week. Grayscale ETF GBTC had a net outflow of $195 million, Fidelity ETF FBTC had a net inflow of $82.11 million, and BlackRock ETF IBIT had a net inflow of $71.07 million.…
— Wu Blockchain (@WuBlockchain) August 19, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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- Bitcoin Price Extend Gains Above $63,500
- Sep 23, 2024 at 12:15 pm
- Bitcoin price extended its increase above the $62,500 level. BTC was able to clear the $62,800 and $63,200 resistance levels to move further into a positive zone.
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- Royal Canadian Mint unveils new Gold Maple Leaf bullion coin made from single mine in northern Ontario
- Sep 23, 2024 at 12:15 pm
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- BTC Miners Are Going Bust as the Market Realizes the Halving Myth Is a Lie
- Sep 23, 2024 at 12:15 pm
- Not long ago, CoinGeek reported on how Russian President Vladimir Putin warned that BTC miners were causing blackouts in certain regions.
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- Dogecoin Eyes 45% Gain as Price Attempts to Stage a Breakout from Its Long-Term Resistance Structure This Month
- Sep 23, 2024 at 12:15 pm
- According to the Dogecoin price outlook presented in a previous CNF post, traders were warned against taking long positions amid the consolidation as analysts believed Dogecoin could trade between $0.12 and $0.15 in the short term, with potential for a rise if it breaks resistance at $0.16.
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- Detailed Process for Claiming MON Token Airdrops
- Sep 23, 2024 at 12:15 pm
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- Top 5 Cryptos to Buy in October 2024 – KAS, SOL, ADA, CYBRO, NEIRO [Updated List]
- Sep 23, 2024 at 12:05 pm
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- Extremely fine Congressional Gold Medal presented to Lieutenant Robert Henley sold for a hammer price of £180,000 at auction
- Sep 23, 2024 at 12:05 pm
- This was against an estimate of £40,000-50,000 at Noonans Mayfair on Thursday, September 19, in a sale of British, World Coins and Historical Medals.
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- Nervos Network (CKB) Investors Eye Mpeppe (MPEPE) Gaming Launch as the Next Big Profit Opportunity
- Sep 23, 2024 at 10:25 am
- The Nervos Network (CKB) community has been riding a wave of profits as the value of CKB continues to climb. As excitement builds, many in the community are looking for the next big opportunity—and they’ve found it in Mpeppe (MPEPE).
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- Hello Kitty's Limited-Edition 50th Anniversary Gold Coin Releases for Preorder
- Sep 23, 2024 at 10:25 am
- Via Sanrio's official Japanese website, Hello Kitty is receiving a new gold coin commemorating her 50th anniversary.