Transaction URL: https://blockchain.com/btc/tx/656cc534c9d68bf989df66acde9fb82f1e2848e9148622cd370752ab4e4daff6
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Last week marked a significant rebound for digital asset investment products, capturing $441 million in net inflows and breaking a three-week trend of net outflows, reports CoinShares. This surge in investor interest comes despite recent market volatility, notably influenced by the impending repayments from the defunct Mt. Gox exchange and significant Bitcoin transactions by Germany’s law enforcement.
Bitcoin dominated the inflows, accounting for $398 million of the total, though it’s noteworthy that this figure represents only 90% of the inflows—a rare occurrence for the leading cryptocurrency. Altcoins also saw some action, with Solana-based products attracting $16 million, signaling a diversifying investor appetite.
Despite the positive influx in the crypto products sector, blockchain equities experienced a setback, shedding $8 million. This outflow brings their year-to-date losses to $556 million, highlighting a mixed sentiment in broader blockchain investments. This dynamic suggests that while caution remains, many see the current prices as prime buying opportunities.
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Just the Sunday Scaries?
Unlike most of the American crowd, the volatility in bitcoin didn’t take a breather to celebrate the holiday weekend. On Sunday, bitcoin hit $54,000 before bouncing back overnight. It’s currently trading around $57,000.
Memecoins weren’t spared in the selloff, and certain tokens — like dogwifhat — are still leading the top 100 losers per CoinGecko data.
Is this all super surprising? Not really. Traders have summed the action up to Mt. Gox repayments coupled with selling pressure from the German…
Read more on Blockworks
Two whale wallets offloading significant sums of Ethereum ETH/USD did little to quell the optimism of traders predicting a turnaround for ETH soon.
What Happened: Spot On Chain data highlighted two traders who unloaded 13,680 ETH, worth $41 million. One trader deposited all 6,440 ETH (worth $19.5 million) to Binance, suffering a loss of $2.65 million (-7.74%) from their latest ETH trade. However, the trader’s cumulative profit from ETH still stands at $20.6 million.
The second trader, an inactive whale, deposited the remaining 7,240 ETH ($21.4 million) to Kraken. Having held these tokens for over 1.5 years, the profit is an estimated $12.83 million (+149%).
Price Action: ETH is up 1.4% to…
Read more on Benzinga
