On Monday, U.S. spot ethereum exchange-traded funds (ETFs) recorded their second-highest inflows since their inception. Approximately $48.73 million was added, yet the nine funds collectively remain in the red, with a deficit of $461.98 million, primarily due to significant outflows from Grayscale’s Ethereum Trust. Blackrock Leads $48.73M Inflows for U.S. ETH ETFs as Crypto Market […] Source CryptoX Portal
Spot ether ETFs saw nearly $49 million of inflows on Monday, even as the ETH price dropped as much as 20%. Ether suffered its biggest single-day drop since 2021, as Jump Crypto moved large amounts of assets to exchanges ahead of potential sales. Professional investors appeared to buy the dip, however, with ETH ETFs trading over $715 million, the highest since July 30. The ETFs remain in the red, however, having recorded net outflows of $460 million since their introduction. Their bitcoin equivalents, in comparison, saw over $1 billion of…
Bitcoin and crypto markets experienced a robust recovery Tuesday, with Bitcoin surging past the $56,000 mark and Ethereum breaking above $2,500, bouncing back from the “Block Monday.” Yesterday, Bitcoin plummeted over 15%, touching lows near $49,000, while Ethereum dropped by more than 20% to a low of $2,115. The recovery in Bitcoin and crypto paralleled a broader resurgence in global financial markets, driven by several key factors. #1 Nikkei Rebounds, Bitcoin Follows Japan’s primary stock index, the Nikkei 225, experienced a record-breaking recovery following its most significant drop since the…
“The bridge currently secures over $850M which is safe,” co-founder @Psycheout86 said in an X post. Source
DJT plummets 90.8%, reflecting the volatile nature of meme coins in the crypto landscape. TrumpCoin (DJT), a controversial meme token, has experienced a significant price decline, dropping 90.8% in only 3 hours. At the time of writing, the token, which is not officially affiliated with Donald Trump, had a value of $0.0004581 per data from CoinGecko. At one point, the coin had gone as low as $0.0001203, marking a dramatic 95% drop. 4-hour DJT price chart, Aug. 6, 2024 | Souce: TradingView Despite this sharp decline, the trading volume surged,…
The total open interest of any asset can help to narrow down what traders are doing when it comes to a coin, and Dogecoin is no different. As with any metric, a rise or fall within a period of time can be significant as traders choose to take or not take positions in that asset. In Dogecoin’s case, there has been a decline in the open interest over the last week, and this could have some implications for the DOGE price going forward. Dogecoin Open Interest Falls 24% According to…
Northern Data announced that its revenue in the second quarter surged by 22%, defying expectations despite the impact of the Bitcoin halving. European Bitcoin (BTC) mining company Northern Data has rolled out its Q2 results published today, Aug. 6, boasting a 22% increase in revenue despite the challenges posed by the Bitcoin halving. The company reported Q2 revenue of €26 million, driven by performance from its cloud platform and investments in its data center footprint as well as mining facilities. Northern Data’s CEO Aroosh Thillainathan emphasized the company’s progress in…
Jacob King, a financial analyst at Whalewire, has stated that he doesn’t consider bitcoin a hedge “against anything.” King stressed that “crypto itself was entirely propped up by stable coin fraud. I warned it would crumble like paper when it starts.” Bitcoin fell under $50,000 on August 5th, as the Japanese stock market also took […] Original
As Bitcoin struggles to quickly recover above $60,000, miners are facing profitability issues across the industry. Bitcoin’s (BTC) temporary crash below $50,000 on Monday, Aug. 5, has put many crypto miners in a challenging situation as they are now facing profitability issues across the whole industry, analysts at Hashrate Index say. In a blog post, Hashrate Index’s analyst Kaan Farahani highlighted that Bitcoin’s drop to $55,000 caused a significant decline in the hashprice metric, which fell by 28% on a weekly basis, putting “stress on miner profitability.” Bitcoin’s hashrate price…
The death cross is known to cause catastrophizing among inexperienced investors. But it’s an unreliable indicator. Source