Digital asset investment products experienced $55 million in outflows, primarily due to the lack of movement towards approving a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission, with Bitcoin alone accounting for $42 million of the outflows.
Major cryptocurrencies like Bitcoin, Ethereum, and Solana have already reached their lowest points of the cycle, according to former ARK Invest executive Chris Burniske, who predicts that the long-term uptrend for these digital assets will persist into 2024 and 2025 despite potential market fluctuations.
Bitcoin and Ether rose over 3% to reach their highest prices in a week, while Solana, NEAR, Cardano, Polkadot, and Binance's altcoins also experienced gains, following a surge in traditional markets; however, experts predict that the downtrend in digital assets may continue for the next few weeks.
Data suggests asset managers are following BlackRock into the cryptocurrency market, as European crypto ETPs experienced significant inflows in June, marking their best performance since March 2022.
The cryptocurrency market is preparing for a potential larger financial event in September that could significantly impact Bitcoin, Ethereum, XRP, and the wider digital asset landscape.
In July, capital inflows from venture capitalists in the crypto sector decreased by 10.26%, with $700 million raised, as macroeconomic conditions and geopolitical events continued to impact investment decisions, although some notable outliers, such as Polychain Capital and CoinFund, launched new funds totaling millions of dollars, and the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. could bring renewed attention and capital into the industry. Infrastructure and Web3 sectors received the most capital inflows, while overall investor activity in the blockchain industry remained low, suggesting a slow return to a steady upward trend.
The crypto markets experienced their largest outflows since March, with digital assets losing $168 million last week, primarily due to negative sentiment surrounding the delay in the approval of a spot Bitcoin ETF in the US by the SEC. However, Grayscale won its lawsuit against the SEC, which rejected its ETF application, and while BTC took the brunt of the outflows, other altcoin products saw some inflows.
The crypto industry experienced significant capital outflows of $55 billion in August, leading to a liquidity crunch that allows isolated events to have a greater impact on prices and market movements, according to an analysis from Bitfinex.
Crypto funds have experienced outflows of $455 million over the past nine weeks, with bitcoin accounting for 85% of the outflows, as investors continue to withdraw funds despite recent legal victories for the industry.
Crypto is poised to create a new investable asset class globally and will revolutionize the internet, requiring new business models, metrics, and research structures, as well as a framework to analyze value flows within the tech stack, particularly in relation to Ethereum's layer 2 solutions.
Bitcoin and ether have seen little change in the past 24 hours as both spot and futures markets experience fading volumes, with cryptocurrencies needing financial chaos for sustainable growth momentum.
Major cryptocurrencies experienced a significant increase in value as over $100 million was unexpectedly liquidated due to a surprise surge in the price of Bitcoin, coinciding with the start of "Uptober," a potentially bullish trend for cryptocurrencies in October.
Solana has emerged as the most loved altcoin among institutions, with 27 weeks of inflows and partnerships with financial institutions like Visa, while Ethereum continues to be the least-loved altcoin, experiencing seven straight weeks of selling.
Despite the recent rally in Solana's SOL, it's unclear whether the price surge is a result of Bitcoin's movement or other factors, such as the successful network upgrade to version 1.16 and increased usage of decentralized applications and NFT volumes on Solana. Solana is trying to establish itself as the fifth-largest cryptocurrency by market capitalization, but faces stiff competition from Ethereum layer-2 solutions.
Cryptocurrency investment products experienced inflows of $78 million for the second consecutive week, with volumes of crypto exchange-traded products reaching $1.1 billion and Bitcoin volumes rising by 16%, according to CoinShares.
Crypto investments surged by $78 million, with Bitcoin and Solana leading the way, according to CoinShares' latest investment report. Bitcoin received $43 million in inflows, while Solana experienced its largest weekly inflow since March 2022.
Ethereum rival Solana is gaining favor with institutional investors, as digital assets receive significant inflows, with Solana seeing the largest weekly inflows since March 2022.
Investment into the cryptocurrency market surged with $78 million flowing into the sector, primarily benefiting Bitcoin, while Ethereum ETFs received minimal interest and Solana experienced a substantial increase in inflows.
Bitcoin outperformed the cryptocurrency market as Ethereum and DeFi tokens slid, with BTC rising to near $28,500 and its market share reaching over 52%, the highest since April 2021.
Major cryptocurrencies experienced a significant surge, with bitcoin leading the way, as hopes for the approval of a bitcoin exchange-traded fund (ETF) boosted the overall crypto market.
Bitcoin and other leading cryptocurrencies experienced a positive week, with Bitcoin rebounding by 10% following bullish price action and reaching $29,523, while Solana and XRP also saw gains.
Bitcoin's surge to $30,000 has propelled major cryptocurrencies, including altcoins, to soar, with over $65 million worth of shorts liquidated in the past 24 hours, and the approval of spot Bitcoin ETFs expected within the next few months.
Institutional crypto products saw positive investments for the fourth consecutive week, with $66 million invested, primarily in Bitcoin, according to a report by CoinShares, signaling excitement over a potential Bitcoin ETF launch in the US. Solana was also favored among altcoins, while Ethereum experienced outflows attributed to concerns over centralization and increasing validator size.
Bitcoin investment products received 84% of inflows, totaling $55.3 million, as the anticipation of a spot Bitcoin exchange-traded fund (ETF) prompted further investments for the fourth consecutive week, according to CoinShares' weekly fund flows report.
