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Crypto investment products have seen over $450 million in cumulative outflows over the past nine weeks. Outflows from crypto exchange-traded products (ETPs) reached $455 million over the previous nine weeks , according to a report from asset manager CoinShares. Outflows from ETPs generally indicate negative sentiment towards cryptocurrencies. Let’s analyse the latest dynamics in digital asset investment products. Here is our #FundFlows with @jbutterfill. Last week, outflows totalled US$54m. There have been outflows for 8 out of the last 9 weeks that aggregate to US$455m. 1/4 pic.twitter.com/23TRrTuN3L — CoinShares (@CoinSharesCo) September 18, 2023 Crypto exchange traded products are designed to track crypto prices. When shares of these funds fall below their target prices, they sell off cryptocurrencies, causing outflows . The week leading up to Sept. 18 saw outflows of $54 million — capping off nine weeks in which only a single week saw inflows. Bitcoin (BTC) saw the bigges...

According to an announcement by anetaBTC, Bitcoin liquidity will now be available on the Cardano (ADA) ecosystem through wrapped BTC (cBTC). This move to integrate cBTC into Cardano is similar to Ethereum’s approach with wrapped Bitcoin (wBTC). BTC is tokenized on the other blockchain to enable its use in decentralized finance (DeFi) applications. Thanks to our community for being with us every step of the way. BTC is now available to help bolster Cardano DeFi. The work has just begun, next steps will be announced soon. — anetaBTC 👼 Mainnet Incoming (@anetaBTC) August 9, 2023 This marks a significant development for Cardano ( ADA ), as it opens up new possibilities for users to utilize Bitcoin-backed assets. Additionally, the infusion of cBTC could potentially enhance the DeFi ecosystem on the Cardano ( ADA ) network. It can give users the ability to access and use Bitcoin assets without having to leave the ADA blockchain. Also Read: Cardano Shows Re...

The crypto exchange also revealed zero maker fees for the ADA/TUSD and LTC/TUSD spot and margin trading pairs. ADA and LTC prices are picking momentum due to positive developments. advertisement Binance Adds Cardano and Litecoin in TUSD Trading Pairs According to an official announcement on May 30, crypto exchange Binance introduces TUSD spot and margin trading pairs for Cardano and Litecoin. Users can start trading ADA/TUSD and LTC/TUSD from May 31 at 08:00 UTC. Start time for ADA/TUSD and LTC/TUSD margin trading pairs will be announced separately. The exchange will allow users to trade ADA/TUSD and LTC/TUSD spot and margin trading pairs at zero maker fees until further announcement. The move comes in an effort to increase liquidity on the exchange by attracting traders. “ Binance Spot Grid will be enabled for the ADA/TUSD, LTC/TUSD and TUSD/BUSD trading pairs within 48 hours of the trading start time.” Recommended Articles ...

Bitcoin’s tight-range trading suggests that traders are content to wait for a catalyst to start the next trending move. Bitcoin has been trading in a narrow range for the past few days. Generally, tight ranges are followed by a range expansion, resulting in strong trending moves. Market intelligence firm Glassnode tweeted on May 22 that Bitcoin’s (BTC) seven-day price range is “comparable to Jan 2023 and July 2020, both of which preceded large market moves.” It is not only Bitcoin — even the S&P 500 Index (SPX) is at a critical juncture. After its 1.65% rise last week, the SPX has reached near a stiff resistance. The market participants will be keenly watching the outcome of the debt ceiling negotiations before attempting to start a trending move. Daily cryptocurrency market performance. Source: Coin360 Another trigger could be the macroeconomic data, as it will provide insights on the likely action by the United States Federal Reserve in its next meeting on June 13 and 14. The Fe...

Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse news on the regional banks as seen from the sell-off in the past three days. Compared to that, Bitcoin (BTC) has held strong and is hovering near its critical overhead resistance at $31,000. Daily cryptocurrency market performance. Source: Coin360 Bitcoin is not the only outperformer. Gold had risen close to its all-time high during the week. This shows that Bitcoin is currently behaving as a safe-haven asset and investors are adding it to their portfolio along with gold. Could Bitcoin overcome the barrier at $31,000 and extend the up-move? Will the altcoins follow Bitcoin hi...

UK-based challenger bank, Revolut, is now offering staking services for Ethereum ( ETH ), Cardano ( ADA ), Polka DOT ( DOT ), and Tezos ( XTZ ). However, the bank’s staking services are only available in the UK and select EEA (European Economic Area) markets. According to Revout, customers may receive up to 11.65% back in cryptocurrency rewards for particular tokens. However, based on the staked token, returns might differ and be subjected to change. Polkadot (DOT) currently has the highest return, while Cardano (ADA) offers the lowest yield at 2.79%, and at 3.88% and 4.59%, respectively, Ethereum (ETH) and Tezos (XTZ) are in the center. More coins will be made available for staking by the bank. However, it did not specify which tokens or nations will be included next to expand the service. Will Ethereum, Cardano, Polkadot, and Tezos staking attract new users? Revolut has more than 25 million customers globally and is one of Europe’s most valued fi...