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A trader transformed a $2,700 investment in Shiba Inu meme coin (SHIB) into a staggering $1.24 million profit over a span of three years or more. While this success story is impressive, it's crucial to remember the high volatility and risk associated with trading meme coins. Caution should always be exercised when navigating such investments. #EarnFreeCrypto2024 #ETHETFsApprove #shiba⚡
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🚀🚀Bitcoin ETFs enjoy 6 days of continued 9-figure outflows
spot Bitcoin ETFs saw net outflows amounting to $105.9 million on June 21, making it the sixth successive day with outflows exceeding $100 million.
The bulk of these outflows came from three major funds: the Fidelity Wise Origin Bitcoin Fund (FBTC) with $44.8 million, the Grayscale Bitcoin Trust (GBTC) with $34.2 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $28.8 million going out.
Despite the bearish sentiment in the market, not all ETFs followed this trend. The Franklin Bitcoin ETF (EZBC) managed to buck the trend with an inflow of $1.9 million on the same day. On its part, BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF by holdings, remained neutral with no significant changes.
The recent trend of outflows is notable, especially considering that spot Bitcoin ETFs experienced $580.6 million in net outflows just last week. This comes after a period of four consecutive weeks of net inflows, which collectively added around $4 billion to these investment products.
The broader cryptocurrency market has been experiencing heightened fear, uncertainty, and doubt (FUD), which has been reflected in Bitcoin’s price dipping below the $64,500 mark.
On-chain data has also revealed significant activity among Bitcoin whales, who hold significant amounts of BTC. According to information shared by CryptoQuant CEO Ki Young Ju on X, whales sold approximately $1.2 billion worth of BTC over the past two weeks. This trend of cashing out coincided with the negative net flows in spot BTC ETFs.
if this sell-side liquidity is not absorbed over the counter, it could lead to more BTC being deposited on exchanges, potentially impacting the market further.
The cryptocurrency’s price has faced difficulties in recent weeks. On June 21, Bitcoin’s value dropped to $63,500. It has since rebounded slightly, adding around $750 in the last 24 hours.
#BinanceTournament! #ETHETFsApprove #CertiKvsKraken #BTC☀ #CryptoPCEWatch
spot Bitcoin ETFs saw net outflows amounting to $105.9 million on June 21, making it the sixth successive day with outflows exceeding $100 million.
The bulk of these outflows came from three major funds: the Fidelity Wise Origin Bitcoin Fund (FBTC) with $44.8 million, the Grayscale Bitcoin Trust (GBTC) with $34.2 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $28.8 million going out.
Despite the bearish sentiment in the market, not all ETFs followed this trend. The Franklin Bitcoin ETF (EZBC) managed to buck the trend with an inflow of $1.9 million on the same day. On its part, BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF by holdings, remained neutral with no significant changes.
The recent trend of outflows is notable, especially considering that spot Bitcoin ETFs experienced $580.6 million in net outflows just last week. This comes after a period of four consecutive weeks of net inflows, which collectively added around $4 billion to these investment products.
The broader cryptocurrency market has been experiencing heightened fear, uncertainty, and doubt (FUD), which has been reflected in Bitcoin’s price dipping below the $64,500 mark.
On-chain data has also revealed significant activity among Bitcoin whales, who hold significant amounts of BTC. According to information shared by CryptoQuant CEO Ki Young Ju on X, whales sold approximately $1.2 billion worth of BTC over the past two weeks. This trend of cashing out coincided with the negative net flows in spot BTC ETFs.
if this sell-side liquidity is not absorbed over the counter, it could lead to more BTC being deposited on exchanges, potentially impacting the market further.
The cryptocurrency’s price has faced difficulties in recent weeks. On June 21, Bitcoin’s value dropped to $63,500. It has since rebounded slightly, adding around $750 in the last 24 hours.
#BinanceTournament! #ETHETFsApprove #CertiKvsKraken #BTC☀ #CryptoPCEWatch
96% of PEPE Holders Profit After 77% Price Rise
Following a significant price increase over the past week, on-chain data reveals that more than 96% of PEPE investors have profited.
96.36% of PEPE Addresses Are Profitable
Cryptocurrency expert Vicakdo highlighted on X that the majority of PEPE investors have net unrealized gains. The “Global In/Out of the Money” indicator from market intelligence company IntoTheBlock shows the distribution of addresses based on the acquisition price range of the coin. By using on-chain data, IntoTheBlock calculates the average deposit price of coins in any wallet to determine an investor's "cost basis."
Investors are categorized into three groups based on their cost basis relative to the current spot price:
Out of the money: Cost basis above the current price, resulting in unrealized losses.
In the money: Cost basis below the current price, resulting in unrealized gains.
At the money: Cost basis equal to the current price, resulting in a break-even position.
The graph below shows the distribution of investors across these categories. The size of the dots represents the number of addresses with an average purchase price within the range. Large dots below the spot price indicate that most investors are profitable.
Specifically, 96.36% of PEPE investors are profitable, with 236,320 green addresses compared to just 10 addresses with net losses. The remaining addresses are at the money, meaning the current price is retesting their average cost basis.
Retesting the cost basis can influence an investor's profit-loss position, leading to potential reactions. Investors holding at a loss may exit at break-even, while profit-seeking holders might buy more when the price retests neutral levels, anticipating future gains.
#PEPE
#ETHETFsApprove
#MemeCommunity
$PEPE
Following a significant price increase over the past week, on-chain data reveals that more than 96% of PEPE investors have profited.
96.36% of PEPE Addresses Are Profitable
Cryptocurrency expert Vicakdo highlighted on X that the majority of PEPE investors have net unrealized gains. The “Global In/Out of the Money” indicator from market intelligence company IntoTheBlock shows the distribution of addresses based on the acquisition price range of the coin. By using on-chain data, IntoTheBlock calculates the average deposit price of coins in any wallet to determine an investor's "cost basis."
Investors are categorized into three groups based on their cost basis relative to the current spot price:
Out of the money: Cost basis above the current price, resulting in unrealized losses.
In the money: Cost basis below the current price, resulting in unrealized gains.
At the money: Cost basis equal to the current price, resulting in a break-even position.
The graph below shows the distribution of investors across these categories. The size of the dots represents the number of addresses with an average purchase price within the range. Large dots below the spot price indicate that most investors are profitable.
Specifically, 96.36% of PEPE investors are profitable, with 236,320 green addresses compared to just 10 addresses with net losses. The remaining addresses are at the money, meaning the current price is retesting their average cost basis.
Retesting the cost basis can influence an investor's profit-loss position, leading to potential reactions. Investors holding at a loss may exit at break-even, while profit-seeking holders might buy more when the price retests neutral levels, anticipating future gains.
#PEPE
#ETHETFsApprove
#MemeCommunity
$PEPE
