One of the reasons is ouflow caused by ETF's. The spot Bitcoin ETFs in US have reversed the late May/early June trend and have seen several consecutive days of outflows, worth more than $600 million.
These adverse developments on the ETF front have impacted the price of the underlying asset, as well as the entire crypto market, and BTC slumped to a monthly low.
Fidelity’s FBTC has been at the forefront of the outflows, seeing over $80 million of withdrawals for four consecutive days. As such, FBTC has beaten even Grayscale’s GBTC in this negative trend.
These developments harmed BTC’s price movements. The asset failed at $70,000 on a couple of occasions last week and slumped hard to a monthly low of $64,000. #BTC #ETFNewsUpdate
Binance is launching HODLer Airdrops exclusively for BNB holders. Users who subscribe to Simple Earn using BNB will receive airdropped tokens issued by projects with a large token circulating supply that intend to soon list on Binance.
Binance is committed to fostering a healthy and sustainable market environment while always prioritizing our users’ interest, and we are taking the lead to engage small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities.
👇 JUST SUBSCRIBE TO BNB SIMPLE EARN
Head to [Earn] and search for BNB. Subscribe to Simple Earn products (Flexible and/or Locked) with your BNB holdings.
Binance will post an announcement before a HODLer Airdrops of new token begins.Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances in Simple Earn products (Flexible and/or Locked). Binance will use historical snapshots of user balances at random periods after this announcement to calculate user rewards.
Eligible users will receive HODLer Airdrops rewards in their Spot Wallets within 24 hours after the HODLer Airdrops is announced. 😄😄😄
Binance Simple Earn will cease support for FET, OCEAN, and AGIX Simple Earn Flexible and Locked Products, and subscriptions will no longer be available. Flexible Products:For existing subscriptions, FET, OCEAN, and AGIX balances in Simple Earn Flexible Products will be automatically redeemed and credited to users’ Spot Wallets after 2024-06-28 03:00 (UTC). Binance Simple Earn will assist impacted users by resubscribing for ASI Flexible Product, according to the above swap ratio after the event is complete.Users may also choose to redeem their assets from FET, OCEAN, and AGIX Simple Earn Flexible Products anytime before 2024-06-28 03:00 (UTC).Locked ProductsFor existing FET Locked Products Positions:These positions will be converted 1:1 to ASI Locked Products from 2024-07-05 04:00 (UTC). To opt-out of the conversion:Users may choose to redeem their FET Locked Products early before 2024-07-01 04:00 (UTC). By opting-out, the assets will be returned to users’ Spot Wallets (with interests being deducted for early redemption) within 72 hours or before the delisting of FET Locked Products from 2024-07-01 04:00 (UTC).FET Locked Product positions already undergoing redemption processes before 2024-07-01 04:00 (UTC) by users will not be counted for the FET to ASI Locked Product conversion.Conversion details:All remaining opened FET Locked Products positions will be automatically redeemed to users’ Spot Wallets from 2024-07-01 04:00 (UTC) to undergo the FET to ASI conversion. Interest will not be deducted.
The converted ASI will be used to automatically resubscribe as a new ASI Locked Product Subscription before 2024-07-05 04:00 (UTC) based on users’ previous FET Locked Product subscription amount if they did not opt-out of the conversion.