● CoinShares: Cryptocurrency investment products have seen a net outflow of $424 million this week, as investors turn to cheaper U.S. funds
According to BlockBeats, CoinShares research director James Butterfill revealed that as of the close of January 16, 2024, the net outflow of cryptocurrency investment products so far this week has reached $424 million. This change reflects that investors are turning to more cost-effective US funds. At the same time, the newly issued US spot Bitcoin ETF has attracted $2 billion in inflows.
● BlackRock US iShares Product Director: Funds flowing into IBIT come from retail investors and new investors
According to PANews, Rachel Aguirre, head of product at BlackRock US iShares, said in an interview with Bloomberg that funds flowing into the BlackRock Bitcoin Spot ETF (IBIT) came from retail investors and new investors.
● Bitwise Bitcoin spot ETF issued approximately $70 million in new shares, setting the second largest single-day record
According to the Daily Planet, Mike Alfred, founder of Eaglebrook Advisors, posted on the X platform that the Bitwise team responsible for the Bitcoin spot ETF product BITB completed an ETF creation activity of 2.9 million shares and approximately US$70 million, which is the second largest single-day record since its launch.
● Morgan Creek Capital Management CEO: The probability of the US SEC approving the Ethereum spot ETF this year is less than 50%
According to the Daily Planet, Mark Yusko, founder and CEO of Morgan Creek Capital Management, said that the probability of the U.S. Securities and Exchange Commission (SEC) approving an Ethereum spot ETF this year is less than 50%. Yusco said that one reason why the Ethereum spot ETF is difficult to get approval is that the SEC classifies BTC as a product, but its position on Ethereum is a security.
● Bitcoin network computing power dropped by about 25% due to power outages caused by the cold wave in Texas, USA
According to the Daily Planet, the power restriction requirements put forward by the Texas power grid regulator after the recent cold wave have caused the Bitcoin network computing power to drop by about 25% in the past few days. Texas is the global center of the Bitcoin mining industry. Data shows that this coincides with the weather alert issued by the Electric Reliability Council of Texas (ERCOT) from January 14 to 17 due to extreme cold weather in the region.
● The 26th BNB destruction was completed, with a total of 2,141,487.27 BNB destroyed
BNB Foundation announced that the 26th quarterly BNB destruction of BNB Chain has been completed. A total of 2,141,487.27 BNB were destroyed, with a value of approximately US$636 million.
● Tokeninsight 2023 Annual Report: Binance leads with absolute advantage in multiple data, and its performance exceeds market expectations
Tokeninsight released the "Crypto Exchange 2023 Annual Report", which showed that Binance ranked first in market share, spot and derivatives trading share, and other data. By the end of the year, Binance's market share was 48.7%, and its spot and derivatives trading share was 53.7%, leading the global crypto trading platform. From the trend, it can be seen that after reaching a settlement with multiple US regulators, Binance still maintains its leading position in the industry, and its share is 32.6% ahead of the second place.
● BNB Chain launches 2024 hackathon plan to accelerate AI and Web3 development
According to the Daily Planet, BNB Chain announced the launch of the 2024 Hackathon program, which aims to accelerate the development of artificial intelligence (AI) and Web3. In the first quarter of the 2024 Hackathon, participants will have the opportunity to share a $60,000 prize pool and a comprehensive Kickstart package worth $300,000, including AWS, Google Cloud credits and other important development tools. The sponsor track will provide an additional prize pool of up to $115,000.
