Outflows Remain The Order Of The Day As Ethereum Crosses $3,300
Ethereum has now cemented its position above the hard-won $3,000 level. This signals another bull rally for the digital asset given how the market has responded to its recent surge. More money is coming into the digital asset daily as investors clamor to take part in the gains. This is evidenced by the exchange inflows and outflows, which show a clear buy and accumulate trend on the part of these investors. Ethereum Outflows Grow For the past week, Ethereum, like its counterpart Bitcoin, has been on an outflow trend. This trend saw more of the digital asset leaving exchanges than have been....
Related News
Bitcoin and Ethereum had led the market in the recent price decline. It has led to a lot of profit-taking on the part of investors that want to avoid incurring more losses in the long term. Nevertheless, investors remain undeterred as they continue to accumulate coins. The result of this has been intense outflows for both Bitcoin and Ethereum leading to a negative net flow for both digital assets. Bitcoin, Ethereum Investors Not Backing Down Bitcoin slid down below $40,000 at the start of the week and brought with it a wave of long liquidations. These prices have seen sentiment turn mostly....
Bitcoin has been seeing a lackluster performance in the last couple of weeks, and crypto investors have responded in kind to this. After a couple of weeks of tethering above $20,000, the digital asset’s price had finally fallen below this important technical point, triggering outflows in the market. For the past week, institutional investors have continued to feel the fatigue in the market, so while there were outflows, they still remain quite muted. Bitcoin Loses $29 Million Bitcoin outflows have continued into another week. This has now brought outflows for the digital asset into three....
The second largest cryptocurrency is making a new wave in space in inflows, Ethereum and its related products recorded massive inflows for a second week consecutively. CoinShares’ weekly fund flow report data indicated a total inflow of $5.6 million for Ethereum and its related products. Data for the overall investment products of digital assets was about $10.3 million in inflows last week. In addition, the report noted that this is the third consecutive week of inflows for virtual assets. However, investors are still hesitant about the low flows. Related Reading: Chainlink Crosses....
Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly argued over scaling the Bitcoin (BTC) blockchain and a number of proponents said that sidechains and offchain solutions would help. Moreover, a number of solutions like Blockstream’s Liquid and the RSK network....
Institutional investors have swung between bearish and bullish when it comes to bitcoin for the better part of this year. Each time though, the direction of their money always shows how they are currently looking at the crypto market. The same is the case for the past week, where numbers have pointed towards more bullishness for these large investors. Short Bitcoin Outflows Continue Since the market began its recovery trend, short bitcoin has been seeing outflows. The ETF had been quite popular and successful when it was launched earlier this year, giving the perfect timing to being....