Bitcoin price tags $63K as Grayscale’s GBTC ETF experiences first inflow after nearly three deadlock months

Bitcoin (BTC) price has broken above the $63,000 threshold, steadily holding above it despite the weekend lull, as trading volume soars 10%. It comes as spot BTC exchange-traded funds (ETFs) continue to drive demand, shaping and accelerating price action.

Grayscale records $63 million in inflows
It is a watershed moment for Grayscale trading counters, after their spot BTC ETF, IBIT, recorded the first inflow since the product went live on January 11. Reports indicate that the investment manager recorded inflows of up to $63 million on Friday.

MENU
Show navigationFXStreet

The Economic Calendar for you. Where Trust Meets Simplicity....ACCESS NOW

Close alert

Lockridge Okoth Lockridge Okoth
FXStreet
Follow

Bitcoin price tags $63K as Grayscale’s GBTC ETF experiences first inflow after nearly three deadlock months
CRYPTOS | 05/04/2024 07:38:40 GMT
Grayscale has recorded the first inflow, reaching $63 million after seventy seven consecutive outflow days.
Spot BTC ETFs had a net inflow of $378.5 million, marking the largest influx in two months.
Bitcoin price has nicked $63K threshold amid growing positive sentiment for BTC.
Bitcoin (BTC) price has broken above the $63,000 threshold, steadily holding above it despite the weekend lull, as trading volume soars 10%. It comes as spot BTC exchange-traded funds (ETFs) continue to drive demand, shaping and accelerating price action.

Also Read: Bitcoin price back above $60K, whales scoop up BTC as Hong Kong asset managers claim exposure to US spot ETFs

Grayscale records $63 million in inflows
It is a watershed moment for Grayscale trading counters, after their spot BTC ETF, IBIT, recorded the first inflow since the product went live on January 11. Reports indicate that the investment manager recorded inflows of up to $63 million on Friday.
#CryptoWatchMay2024 #MicroStrategy $BTC
#RENZO

🔥RENZO - PRICE FORECAST🔥

Exploring the potential of investing in $RENZO early and seeking insights into its listing price?

This post has you covered!

What is #RENZO ?

It enables users to stake ETH and other liquid staking tokens (LST) across popular platforms like Ethereum, Arbitrum, and BNB Chain. Stakers receive ezETH as rewards, earning ezPoint rewards for future airdrops and re-staking opportunities.

Current market conditions show a downward trajectory, influenced by macroeconomic factors such as potential adjustments in interest rates by the FED (perhaps once or not at all this year), ongoing global conflicts, and the looming risk of a financial downturn.

Furthermore, recent performance of the OMNI launchpool, evident in the significant decrease in Binance Square posts concerning

#RENZOLAUNCHPOOL (596K views & 154 Posts) compared to prior projects, like:

#OMNILAUNCHPOOL: 2.5M views & 660 Posts

#SAGA LAUNCHPOOL: 4M views & 1,184 Posts

#ENALAUNCHPOOL: 4.5M views & 1,016 Posts

These figures suggest that the FOMO surrounding this launchpool project isn't as robust as in previous ventures.

Hence, my recommendation is to refrain from immediate $RENZO purchases upon listing.

In my assessment, post-listing, RENZO's market cap could range between $250M - $350M, with an initial circulating supply of 1,150,000,000.

Consequently, the $RENZO price may hover around $0.22 to $0.30. Expect a slight downward adjustment due to selling pressure from Launchpool Farmers and Airdrops, necessitating a wait for BTC's next price movement to inform investment decisions.

It's worth noting that Restaking represents a burgeoning trend, with heavy investments from entities like Binance Labs and other major funds.

As such, RENZO holds significant potential for the future.

Its market cap stands favorably compared to similar projects at their ATH:

Altlayer ($735M MC), ETHFI ($900M), and Pendle ($1.76B) in this bullish cycle.
#Megadrop #BinanceLaunchpool #ScamRiskWarning

#RENZO is going to be list in few hours get ready for this high anticipated project . it is gonna to list at 12:00 UTC .

the post isn't for investment purpose . Do your own research .
#hottrendingtopics #Write2Earn

$WIF is gonna to cross 5$ mark in next bull run ⚡⚡💯%
$BNB
$AMP

Renzo teamed up with Connext for cross-chain restaking on Arbitrum, aiming to expand user participation and enhance network liquidity. Users can now restake ETH on Arbitrum and on other Layer 2 networks at a reduced cost, leveraging rollup technology for broader access.

#RENZO #RenzoProtocol #TrendingTopic #arbitrum #Connext

🚨😱Renzo (EZ token) - the 53rd project on Binance Launchpool💥💥💰💰

📢On April 23, Binance announced Renzo (EZ token) as the 53rd project on Binance Launchpool. Users can stake BNB and FDUSD in separate pools to farm EZ for six days, starting from 2024-04-24 00:00 (UTC). The website estimates availability in 5 hours before the launch pool begins.

👉Binance will then list EZ at 2024-04-30 12:00 (UTC) and open trading with EZ/BTC, EZ/USDT, EZ/BNB, EZ/FDUSD and EZ/TRY trading pairs. The Seed Tag will be applied to EZ.

Pool details:⏭️⏭️

Token name: Renzo (EZ token)
Total supply: 10,000,000,000 EZ
Launchpool reward: 250,000,000 EZ (2.5% of total supply)
Initial circulating supply: 1,050,000,000 EZ (10.50% of total supply)
Staking terms: KYC required
Hourly hardcap per user:
147,569.44 EZ in BNB pool
26,041.67 EZ in FDUSD pool
Supported pools:

⚠️Stake BNB (website will be available in about 5 hours): Reward 212,500,000 EZ (85%)
Stake FDUSD (website will be available in about 5 hours): Reward 37,500,000 EZ (15%)
Farming Period: 2024-04-24 00:00 (UTC) to 2024-04-29 23:59 (UTC).
#BinanceLaunchpool #bitcoinhalving #RENZO #Metaverse #BTC

Received 492 Renzo by staking over 40k FDUSD. Expected price on launch will be between $0.5 and $0.8.

Here are a few tips for newcomers: if you're staying stable and out of the market, buy FDUSD and participate in launchpools. Always try to buy $BNB during the launchpool period because BNB performs very well due to high buying pressure.

You can easily earn $500 to $1000 per launchpool, which I believe is a decent amount of money.

$FDUSD $BNB #RENZO #REZ

📢 Renzo team announces changes to REZ token airdrop conditions, responding to community feedback and criticism.

🔄 Initial distribution volume increased from 5% to 7%, addressing concerns over ezETH LRT token deposit.

📅 Branding date shifted to April 30, with tokens available for request before Binance listing.

🤝 Community share of REZ set at 32%, up from 30%, with minimum participation threshold at 360 points.

💼 Larger wallets face higher participation requirements, with over 500,000 points receiving 50% TGE drop initially.

🔍 Previous criticism over asset allocation transparency addressed, as Renzo clarifies distribution chart.

💥 Renzo's LRT token, ezETH, briefly depegged from Ethereum (ETH) at a ratio of 1:0.5, causing disruption for leveraged points farmers.

💱 Renzo joins Binance Launchpool as the 53rd project, with REZ token trading set to begin on April 30.

#Megadrop #BinanceLaunchpool #RENZO