Cryptocurrency Fund Flows Decline as Bitcoin Price Trades Sideways
Cryptocurrency fund inflows declined by roughly 58% to $99 million last week. Lower investor appetite for digital asset funds could reflect uncertainty over bitcoin’s price, which recently has traded in a range between $53,000 and $61,000.
“Since the February price highs and heightened volatility, we have seen a steady decline in appetite amongst investors,” according to a report by CoinShares, a digital asset management firm.
- “We have also seen a decline in bitcoin investment product trading volumes to $713 million per day last week, versus $1.1 billion per day for 2021,” wrote CoinShares.
- Fund flow data also shows a regional divide. Inflows are slowing in the U.S., while Europe and Canada have sustained investor appetite.
- Bitcoin (BTC) products received a majority of inflows last week, while ethereum (ETH) and polkadot (DOT) lagged behind.
Recommended News
-
MASK DAO, the next phenomenal decentralized organization after ConstitutionDAO
The Mask Word decentralized social networking protocol will allow users to own and control their social graph, while avoiding fragmentation among current social network providers and creating an open ecosystem for web participants. The Mask Word team came up with a protocol that uses smart contracts to write and read social network data on a public blockchain. The protocol which defines how identity, social graphs, and messaging elements are represented to create decentralized social networks. The applicable aspects of ownership, privacy, authenticity, portability, usability, and scalability are handled for each elements….
-
Wan Wu Chao Sheng and Artist Chunren Jointly issue NFT Digital Art, Helping the Creator Economy
My artistic view is that my creation must spread “truth, goodness and beauty”. I want it to be full of “innocence” and “empathy” because those bring people heartfelt fulfillment. –Famous artist Chunren The Internet, which was born in 1969, has been changing the world around us, and has opened up a new era of creator economy. Everyone can become a creator and upload their own content through the Internet. In the past two decades, the Internet has maintained rapid development, and Web2 content platforms such as Facebook, Youtube, and Instagram…
-
Crypto Is Banned in Morocco, but Bitcoin Purchases Are Soaring
Cryptocurrencies are banned in Morocco, but peer-to-peer bitcoin (BTC, -5.01%) trading platform LocalBitcoins is reporting all-time trading highs this year. February 2021 was the platform’s “best month ever” in Morocco in terms of trading volumes, according to LocalBitcoins Chief Marketing Officer Jukka Blomberg, who said approximately $900,000 worth of bitcoin was traded on the platform through the month. LocalBitcoins also saw a 30% increase in user registrations between 2019 and 2020, with over 700 new accounts created, Blomberg said. Bitcoin purchases are rising despite a ban on cryptocurrencies in the North African country. In November…
-
Crypto.com Launches Tool to Simplify Crypto Taxes
Crypto.com has launched a free service it says reduces the complexity of filing cryptocurrency tax returns. In a blog post Wednesday, the Hong Kong-headquartered exchange said its new tool provides “an estimation of taxable gains/losses on relevant crypto transactions,” which can be downloaded for tax filing. Users can import transaction records from supported exchanges and wallets via CSV files or using API synchronization where supported. Initially, the service is only available in Canada but will later be rolled out to other jurisdictions. When that happens, the tool will use country-specific tax calculation…
-
Distributed password authentication systems may be the dark horse of the out-of-the-loop circuit in the future DPAS first in the world is about to see a new wave
On April 25, core members of the DPA community stated in the community that the distributed password authentication track, as a future hotspot, can only bring a new wave of boom if there is innovation at the application level. DPA (Distributed Password Authentication) is the world’s first decentralized distributed cryptographic identity authentication system in line with digital financial standards and distributed blockchain, with reference to the architecture standard decentralized public blockchain ecosystem, fully considering the technical characteristics of identity authentication and network ecological construction needs, in user credit identity management,…
-
Lingose: Empowering Wed3’s GameFi Players
With the awakening of self-awareness of a new generation of netizens, people begin to realize the value of their actions, and when these lines are recorded and accumulated enough, big data is formed. At present, major companies use big data to make countless profits, but the contributors of the data themselves have nothing to gain. When people really realize this, then web3 will be one step away from us. The most notable feature of Web3 is that the ownership and control of the digital content created by the user belong…
-
Panda Miner desenvolve ainda mais o Cloud Hashpower com a sua Maior Mina de Criptocracia no Cazaquistão Oficialmente Colocada em Operação
O mercado de touro de moeda criptográfica trazido pela Bitcoin é ainda forte, que está cheio de fundos, investidores, e vários projectos. No entanto, existe apenas uma escassez de pessoas que trabalham arduamente para o desenvolvimento. A Panda Miner é exactamente um dos poucos intervenientes pragmáticos no mercado de touros. Ao contrário dos impetuosos participantes no mercado secundário, a Panda Miner opta por se desenvolver mais no campo do “cloud hashpower” em que é melhor. Aproveitando a tendência mineira, aumenta continuamente o investimento para conquistar o mercado, expandir os negócios,…
-
Ether Trailing Bitcoin Since CME Futures Launch: Technical Analysis
The outperformance of ether (ETH) over the past year relative to bitcoin (BTC) appears to have reversed since the Chicago-based commodities exchange CME launched its new ether futures contract in early February, an analysis of chart patterns shows. ETH put in a relative bottom versus BTC around the end of 2019. The near 700% increase in ETH versus BTC’s 500% rise over the past year could reflect investor enthusiasm for decentralized finance (DeFi), which seeks to transform traditional financial products in a decentralized manner and largely sits atop the Ethereum blockchain. ETH has underperformed…
-
Coinfans Cloud hashrate leads the digital mining Bitcoin bull market feast
Cloud hashrate mining has become the mining choice of more and more miners in the past two years. Especially in the current period when currency prices continue to soar and break new highs continuously, Cloud hashrate mining has become an important magic weapon to seize the Bitcoin bull market. Cloud hashrate mining, as the name suggests, usually refers to the computing power leasing service provided by large mining farms. Miners users can purchase computing power contracts on the mining platform, thereby earning the bitcoins mined by the corresponding computing power. www.bi-fans.com…
-
Why Bitcoin Is More Like a $100 Bill Than Gold
This week, two developments point toward continued interest in bitcoin as a medium of exchange, the reason the “commerce on the internet” meme may be more accurate than the “digital gold” narrative. One of the developments is the debut of a service allowing use of Lightning – a protocol built to scale transactions on the Bitcoin blockchain – for payments with online merchants that use the Visa network. The company behind the service is called Moon, and it uses a similar mechanism to that used by other bitcoin commerce startups, such as Fold. The…
