Daily CRYPTO NEWS recapđđ„- 21.06.2024
âąSpot Bitcoin ETFs face first outflows amid declining hype
The new Bitcoin ETF in Australia closed its first day with approximately $1.3 million in trading volume. Despite the smaller size of the Australian market compared to the American market, this result is quite underwhelming. In contrast, the first crypto spot ETFs in Hong Kong, launched in April, generated $12 million in trading volume on their first day. Even then, this was considered small compared to the billions of dollars in inflows seen in the U.S.. This indicates that ETF trends are not as strong as they once were, with more investors preferring to hold their $BTC in personal wallets or on exchanges rather than with centralized entities.
âąBinance launches loyalty rewards program for BNB holders
Binance, one of the most popular crypto exchanges, is set to reward its most loyal holders. âUsers who hold $BNB for a long time will receive benefits, and Hodlerâs projects will be distributed to BNB holdersâ wrote the exchangeâs co-founder, Yi He, on June 19. The program will encompass small to medium-sized projects with strong fundamentals, a substantial circulating supply, and vibrant, organic communities. To participate, simply subscribe to BNB Simple Earn products and complete KYC verification.
âąPolkadotâs new proposal to reduce unstacking time to just 2 days
The RFC-0092 proposal for Polkadot $DOT aims to reduce the unstaking period from 28 days to just 2 days. This change is designed to enhance user convenience and competitiveness without compromising security. The primary motivation for this adjustment is that Polkadot currently has one of the longest unstaking periods among all proof-of-stake tokens. Despite offering high APY, many users prefer to stake other cryptocurrencies because, in case of an emergency, it is easier to regain control over their staked coins.
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