CoinGape
56,260 προβολές
7 Δημοσιεύσεις
Δημοφιλές
Πιο πρόσφατα
Bitcoin Investment Products See Inflows First Time In Five Weeks, Upside Confirmed?
Despite volatility, Bitcoin investment products saw $144 million inflows last week. Bitcoin ETF GBTC saw lowest outflows since January 2024.
In what seems to be a major turnaround, the cryptocurrency investment products recorded inflows for the very first time over the past five weeks. Last week, the crypto investment products clocked $130 million in net inflows. While the Bitcoin investment products saw net inflows of $144 million
BITCOIN ETF INFLOWS RESUME:
As reported, the U.S. Bitcoin ETFs recorded net inflows of $116 Million for the last week despite the continuous GBTC outflows. As the U.S. macros give uncertain signals, investors have been waiting on the sidelines in recent weeks.
Following a record week of inflows, Hong Kong experienced just $19 million in inflows, indicating that most of the capital in the first-week post Bitcoin ETF launches was seed capital. Well, the issuers of Hong Kong Bitcoin ETFs are now working to rope in wealthy Chinese investors which might lead to strong capital inflows.
In terms of regional activity, the US led with inflows totaling $135 million, while Grayscale observed its lowest weekly outflows since January, amounting to $171 million. Switzerland recorded inflows of $14 million.
Meanwhile, Canada and Germany continued to see outflows amounting to $20 million and $15 million, respectively, bringing their year-to-date outflows to a combined $660 million, reported CoinShares.
ETP volumes decreased to $8 billion for the week, compared to the $17 billion average in April. This decline suggests reduced participation from ETP investors in the crypto ecosystem, representing 22% of total volumes on global trusted exchanges, down from 31% last month.
Bitcoin witnessed $144 million in inflows, marking a recovery after a weak month. Short-Bitcoin ETPs experienced outflows totaling $5.1 million, continuing the trend of outflows over the last 8 weeks, totaling $18 million.
On the other hand, the chances of spot Ethereum ETF approval by the month’s end, in the US, seem to be bleak. The conversations between US regulators and ETF issuers have been very low in recent times. Amid this uncertainty, the Ethereum price faced selling pressure earlier today dropping under $2,900.
ALL EYES ON US CPI DATA:
This week, the market awaits crucial insights with the release of U.S. inflation data, starting with the Producer Price Index (PPI) on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday.
In anticipation of these inflation reports, the CME’s FedWatch tool predicts a 24.6% probability of a rate cut at the July Federal Open Market Committee (FOMC) meeting and a 48.6% chance at the September meeting. Interest traders project a 96.5% likelihood of unchanged rates at the June meeting.
Ahead of the release of PPI and CPI data, the Bitcoin price has bounced back 2.5% and currently trading at $62,639.
CONCLUSION:
The market awaits crucial insights with the release of U.S. inflation data, starting with the Producer Price Index (PPI) on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday. Let's hope for the best .
Don't forget, cryptocurrency is highly volatile, invest wisely with incredible research.
NEWS SOURCE:
CoinGape dot com.
#Bitcoin #CoinGape #Crypto_Angel
In what seems to be a major turnaround, the cryptocurrency investment products recorded inflows for the very first time over the past five weeks. Last week, the crypto investment products clocked $130 million in net inflows. While the Bitcoin investment products saw net inflows of $144 million
BITCOIN ETF INFLOWS RESUME:
As reported, the U.S. Bitcoin ETFs recorded net inflows of $116 Million for the last week despite the continuous GBTC outflows. As the U.S. macros give uncertain signals, investors have been waiting on the sidelines in recent weeks.
Following a record week of inflows, Hong Kong experienced just $19 million in inflows, indicating that most of the capital in the first-week post Bitcoin ETF launches was seed capital. Well, the issuers of Hong Kong Bitcoin ETFs are now working to rope in wealthy Chinese investors which might lead to strong capital inflows.
In terms of regional activity, the US led with inflows totaling $135 million, while Grayscale observed its lowest weekly outflows since January, amounting to $171 million. Switzerland recorded inflows of $14 million.
Meanwhile, Canada and Germany continued to see outflows amounting to $20 million and $15 million, respectively, bringing their year-to-date outflows to a combined $660 million, reported CoinShares.
ETP volumes decreased to $8 billion for the week, compared to the $17 billion average in April. This decline suggests reduced participation from ETP investors in the crypto ecosystem, representing 22% of total volumes on global trusted exchanges, down from 31% last month.
Bitcoin witnessed $144 million in inflows, marking a recovery after a weak month. Short-Bitcoin ETPs experienced outflows totaling $5.1 million, continuing the trend of outflows over the last 8 weeks, totaling $18 million.
On the other hand, the chances of spot Ethereum ETF approval by the month’s end, in the US, seem to be bleak. The conversations between US regulators and ETF issuers have been very low in recent times. Amid this uncertainty, the Ethereum price faced selling pressure earlier today dropping under $2,900.
ALL EYES ON US CPI DATA:
This week, the market awaits crucial insights with the release of U.S. inflation data, starting with the Producer Price Index (PPI) on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday.
In anticipation of these inflation reports, the CME’s FedWatch tool predicts a 24.6% probability of a rate cut at the July Federal Open Market Committee (FOMC) meeting and a 48.6% chance at the September meeting. Interest traders project a 96.5% likelihood of unchanged rates at the June meeting.
Ahead of the release of PPI and CPI data, the Bitcoin price has bounced back 2.5% and currently trading at $62,639.
CONCLUSION:
The market awaits crucial insights with the release of U.S. inflation data, starting with the Producer Price Index (PPI) on Tuesday, followed by the Consumer Price Index (CPI) on Wednesday. Let's hope for the best .
Don't forget, cryptocurrency is highly volatile, invest wisely with incredible research.
NEWS SOURCE:
CoinGape dot com.
#Bitcoin #CoinGape #Crypto_Angel
🌖 Terra Luna Classic Key Proposal Fails, $LUNC Price Soars 5%
Terra Luna Classic community has rejected a crucial proposal on preventing validators from running multiple nodes on the chain. The proposal received some votes in favor from validators, but top validator Allnodes voted “No” citing “No enforceable rules should not be created on permissionless blockchains” as the reason.
#TerraLunaClassic Proposal Rejected
Proposal 12101 “Rules to prevent double & network validating” has failed to pass governance vote. The proposal aimed ar tackling the emergence of validators running multiple nodes on the chain, posing a risk to the decentralization and security of the #Network .
The proposal received nearly 38% “Yes” votes, along with 37% “No”, 21% “No with veto” and 4% “Abstain” votes. The proposal has not received support from validators and delegators. Out of 45 validators who participated in the voting, only 20 validators including Interstellar Lounge, HappyCattyCrypto, TerrCVita, LBUN Project, and StakeBin voted in favor of the proposal.
As #CoinGape reported earlier, this measure addresses concerns about potential risks to the network’s security and decentralization. Validators currently operating multiple nodes would need to revert to a single-node operation. Non-custodial providers must enforce these restrictions rigorously. The proposal seeks to diminish the likelihood of Sybil attacks, where one entity controls multiple nodes, thus compromising the network’s integrity.
#CryptoWatchMay2024 #BTC
Terra Luna Classic community has rejected a crucial proposal on preventing validators from running multiple nodes on the chain. The proposal received some votes in favor from validators, but top validator Allnodes voted “No” citing “No enforceable rules should not be created on permissionless blockchains” as the reason.
#TerraLunaClassic Proposal Rejected
Proposal 12101 “Rules to prevent double & network validating” has failed to pass governance vote. The proposal aimed ar tackling the emergence of validators running multiple nodes on the chain, posing a risk to the decentralization and security of the #Network .
The proposal received nearly 38% “Yes” votes, along with 37% “No”, 21% “No with veto” and 4% “Abstain” votes. The proposal has not received support from validators and delegators. Out of 45 validators who participated in the voting, only 20 validators including Interstellar Lounge, HappyCattyCrypto, TerrCVita, LBUN Project, and StakeBin voted in favor of the proposal.
As #CoinGape reported earlier, this measure addresses concerns about potential risks to the network’s security and decentralization. Validators currently operating multiple nodes would need to revert to a single-node operation. Non-custodial providers must enforce these restrictions rigorously. The proposal seeks to diminish the likelihood of Sybil attacks, where one entity controls multiple nodes, thus compromising the network’s integrity.
#CryptoWatchMay2024 #BTC
