Crypto funds have witnessed a surge in inflows, reaching an unprecedented $15 billion in 2024. Last week alone, inflows totaled $185 million, contributing to a monthly inflow of $2 billion in May. Despite this positive trend, trading volumes experienced a slight dip, descending to $8 billion compared to $13 billion the previous week.
Bitcoin continues to attract investor confidence, with inflows totaling $148 million. Conversely, short Bitcoin products saw outflows of $3.5 million, indicating sustained positive sentiment among ETF investors.
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Buoyed by the SEC's approval of a spot-based ETF slated for launch in July 2024, Ethereum experienced a second consecutive week of inflows. This reversal ended a 10-week streak of outflows totaling $200 million. Ethereum's positive momentum also influenced Solana, which recorded an additional $5.8 million in inflows.
The US dominated the inflow landscape, contributing a net of $130 million. However, established ETF issuers experienced a spike in outflows, totaling $260 million. Switzerland celebrated its second-largest week of inflows for the year at $36 million, while Canada reversed its trend with inflows of $25 million, offsetting a cumulative outflow of $39 million in May.
In contrast to direct investment gains in digital assets, blockchain equities faced challenges, with outflows amounting to $7.2 million last week. This contributed to a total outflow of $516 million this year.
Cryptocurrency acceptance is growing among luxury retailers like Ginza Xiaoma, signaling a shift towards digital payments in high-end markets globally. Despite challenges, increased business adoption and regulatory developments suggest a promising future for crypto as a mainstream payment method.
WeatherlyMetallica's official X account was hacked to promote the Solana token METAL, making them the latest victim of celebrity meme coin scams. Rapper 50 Cent and wrestler Hulk Logan also joined the growing list of victims this month.
KikyoSolana's price has sharply declined over the past month amidst a broader market correction and rumours of a criminal investigation. Are these claims unfounded, or is the popular altcoin at significant risk?
KikyoGermany’s Federal Criminal Police (BKA) has moved more than 6,500 Bitcoins, sparking speculation of a potential sell-off. Despite a small price increase, concerns remain about the impact of government-held Bitcoin on global markets.
ZeZhengFarcaster, a decentralized social media platform on Ethereum, boasts unique features like "Frames" and blockchain-based user control, backed by figures like Vitalik Buterin. Its meteoric rise to a $1 billion valuation and recent user engagement declines prompt scrutiny over its sustainability and dependency on venture capital.
WeatherlyTrump supports moving Bitcoin mining production to the United States to increase the country's energy self-sufficiency, and stressed that this will resist the threat of central bank digital currencies.
ZeZhengThe US Consumer Price Index (CPI) data for May showed that the inflation rate remained at 0.3%, surpassing market expectations. However, on an annual basis, it decreased from 3.4% in the previous month to 3.3%. This cooling trend has sparked optimism in the market.
ZeZhengBitcoin advocates push Musk for BTC payments on X; Musk favors Dogecoin for its lower fees and scalability.
ZeZhengFollowing the deadly attack in Israel by Palestinian militant group Hamas, it has put cryptocurrency’s role in terrorist financing back in the spotlight. The U.S. Treasury Department recently announced its investigation on the $165 million in cryptocurrency which the agency believed to have helped Hamas before the militant group’s Oct 7 attack against Israel.
XingChiArthur Hayes criticizes G7 central banks, advocates for continued investment in Bitcoin and altcoins. Predicts potential rally fueled by FED's dollar-yen maneuvers and anticipates rate cuts. Encourages long positions, sees cryptocurrency market poised for resurgence.
Xu LinSequence Builder is built to address a particular pain point - eliminating the need for developers to make trade-offs between integrating web3 elements and focusing on game design.
DavinBinance innovates with the world's first triparty crypto arrangement, enhancing security for institutional investors while also transitioning away from its BUSD stablecoin.
YouQuanChainlink experiences a record spike in whale transactions, signaling positive momentum ahead of its Staking v0.2 update.
YouQuanCasio Computer Co., Ltd. has revealed plans to release 2,000 limited edition VIRTUAL G-SHOCK NFTs (non-fungible tokens) on 15 December, showcasing futuristic shock-resistant watches in a virtual realm. The move follows the September 2023 launch of the VIRTUAL G-SHOCK project aimed at engaging with Gen Z and new users in a virtual space.
JoyAmid SEC challenges and cryptocurrency disputes, Coinbase CEO Brian Armstrong calls for a stronger U.S. regulatory framework.
Hui XinNexo partners with Koinly to simplify crypto tax reporting for users, offering tailored tax forms and integrating with over 100 jurisdictions.
YouQuanBinance has announced a new campaign called "Crypto is better with Binance". The campaign will feature ten stories from Binance users around the world who have used crypto to improve their lives.
JoyCircle staunchly denies allegations of illicit financing and ties to Justin Sun, countering claims by the Campaign for Accountability amid broader cryptocurrency concerns.
Hui XinRollbit, combining an online casino and crypto exchange, achieves a $505M market cap and impressive $41M in monthly fee revenue, with its RLB token seeing a 70x return this year.
YouQuanAn unnamed developer, identified only as Leonidas, has publicly accused OCEAN of engaging in the censorship of transactions related to Bitcoin Ordinals.
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