Bitcoin, the world’s most valuable cryptocurrency by market capitalization, saw $107 million in outflows in the week ending January 7. Last week, Ethereum-based products saw outflows of $39 million, making it five weeks in a row with outflows totaling $200 million.
Ethereum’s outflows were 1.4 percent of total AUM, according to Coin Shares, which is greater than Bitcoin’s. Coin Shares reported that investor activity had been more than typical over four weeks. Here’s some bitcoin news you should know about:
Interesting bitcoin news
Bitcoin’s price still seems to be Rs 33 lakh, and it also has a 40.19 percent control of the cryptocurrency industry over the last 24 hours, down 0.54 percent from the day before. Cryptocurrencies were trading in the green earlier on January 12. The worldwide cryptocurrency market capitalization is now $2.01 trillion, up 2.39 percent from before. The overall crypto market turnover in the last 24 hours has decreased by 15.56 percent to $87.43 billion.
The total amount of DeFi is approximately $13.74 billion, accounting for 15.72 percent of the cryptocurrency market’s 24-hour volume. Stable coins now account for 77.18 percent of the whole 24-hour turnover of the crypto market, with a total volume of $67.48 billion.
Bitcoin’s price remains Rs 33 lakh, and it has a 40.19 percent market share in the cryptocurrency market during the last 24 hours. This represents a 0.54 percent drop from the day before.
According to a report by digital wealth manager Coin Shares, cryptocurrency financial products and funds saw net outflows of a record $207 million last week, as prices continued to fall in the first business week of the year.
According to Reuters, since mid-December, the sector has had four weeks of outflows, totaling $465 million, or 0.8% of assets under the management.
Bitcoin has gained popular recognition, with financial institutions including it on their financial statements and as a method of money. Crypto ICOs emphasized the rapid expansion of digital assets in the previous year.
“More crypto firms are likely to go public in 2022,” he continued. “More institutions will include Bitcoin in their financial statements, as well as some countries may regard Bitcoin as a viable monetary tool.”
Some major bitcoin news that needs to be spread is that it’s only a matter of time when bitcoin captures the whole market and becomes a verified replacement of money.
