Fun

News Feed - 2023-09-12 05:09:18

Tristan Greene12 hours agoXRP bucks trend as crypto assets experience 4th straight week of outflowsSolana slid into the outflow column this week as Bitcoin’s outflows streak continued.4138 Total views32 Total sharesListen to article 0:00NewsJoin us on social networksCryptocurrency asset outflows for the week of Sept. 3 through 9 totaled $59.3 million, bringing the current run to $249 million over four consecutive weeks. 


Bitcoin (BTC) experienced the bulk of activity last week, with its $68.9 million in outflows offset by Short Bitcoin inflows in the amount of $15.2 million and $0.7 million from XRP (XRP).


According to CoinShares, regulatory and financial market insecurity are to blame for the streak:“We believe continued worries over regulation of the asset class and recent dollar strength are the most likely reasons for this. Trading volumes also dropped significantly, by 73% in comparison to the prior week to just US$754 million for the week.”


Last week also brought an end to Solana’s (SOL) recent run. After nine weeks of inflows totaling $14.1 million prompted CoinShares to suggest that it was “the most loved altcoin amongst investors,” Solana saw $1.1 million in outflows.


Ether (ETH) also experienced outflows for the week, with its $4.8 million trailing a distant second behind Bitcoin. With its year-to-date outflows now totaling $108 million, CoinShares has labeled it the “least loved digital asset amongst ETP [exchange-traded product] investors this year.”Crypto flows. Source: CoinShares


Geographically, only Brazil registered inflows with a modest $0.1 million. Germany, Canada, and the United States led activity with $20 million, $17.6 million and $12.3 million in outflows, respectively.


Switzerland and Sweden also experienced significant outflows, with the former losing $7.4 million and the latter another $2.3 million.


Expert analysts are predicting a continuation of Bitcoin’s slump, with some expecting the coin to reach as low as $20,000. This negative sentiment could contribute to further outflows, as the current four-week run seems to indicate that altcoins are unlikely to upset the balance of flows one way or the other.


Related:Double top ‘likely’ confirmed — 5 things to know in Bitcoin this week# Bitcoin# Cryptocurrencies# Altcoin# Ethereum# XRP# CoinShares# SolanaAdd reactionAdd reactionRead moreHow to use index funds and ETFs for passive crypto incomeHuman vs. AI: Who is better at crypto investing?10 years later, still no Bitcoin ETF — but who cares?

News Feed

Hong Kong central bank forms community to explore asset tokenization
Helen Partz10 hours agoHong Kong central bank forms community to explore asset tokenizationRegulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the tokenization market in H
Tom Blackstone4 hours agoUS Justice Dept reportedly ready to settle with Binance for $4BAccording to a report, an agreement to settle Justice Department charges against the company may be settled by the end of the month.
China’s Inflation Rate Drops to Lowest in 18 Months
China"s Inflation Rate Drops to Lowest in 18 Months The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest st
Warner Bros. to Launch Hybrid Physical and Digital DC Comics-Themed NFT Trading Cards
Warner Bros. to Launch Hybrid Physical and Digital DC Comics-Themed NFT Trading Cards The multinational mass media and entertainment conglomerate Warner Bros. has announced the fir
New Report From Dacxi Finds Lack of Crypto Education Stops Over 57% of People From Investing
New Report From Dacxi Finds Lack of Crypto Education Stops Over 57% of People From Investing press release PRESS RELEASE.Dacxi, the world’s leading Crypto Wealth Platform, re
Derek Andersen11 hours agoChair Gensler says SEC reaction to Ripple decision is mixed, still under considerationGensler was asked about the Ripple decision twice shortly after the ruling, and his main message was that he
Chinese Billionaire Jack Ma Agrees to Cede Control of Fintech Giant Ant Group
Chinese Billionaire Jack Ma Agrees to Cede Control of Fintech Giant Ant Group Chinese billionaire Jack Ma recently agreed to give up control of Ant Group as part of changes to the
Turner Wright4 hours agoSam Bankman-Fried thought ‘taking FTX deposits through Alameda was legal’: ReportThe former FTX CEO took the stand for the first time in his criminal trial, but without members of the jury pre
Satoshi vs physics: How quantum Bitcoin miners could make ASIC obsolete
Tristan Greene6 hours agoSatoshi vs physics: How quantum Bitcoin miners could make ASIC obsoleteQuantum rigs might pose a bigger threat to blockchains than quantum decryption.1727 Total views3 Total sharesListen to artic
Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange
Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized ExchangeThe decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2
Tom Blackstone7 hours agoUSD Coin officially expands to Base and Optimism networksCircle’s USDC is now available natively on Base and Optimism, and Coinbase accounts can transfer the stablecoin to Base for the first ti
El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet
El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet On February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that