The number of bitcoin flowing from/to the Purpose Bitcoin ETF.
- Over 300 BTC have been added to the ETF for over three months, equating to over $6M.
- Back in June 2022, during the Luna collapse, over 24,000 BTC were liquidated from the ETF holdings.
- This drop saw the ETF holdings drop from 48,000 BTC to 24,000 BTC.
- Since June, uncertainty has only escalated, which includes the FTX collapse and the ongoing issues with DCG, which has seen institutional appetite muted.
- However, the price of Bitcoin has retraced the entire FTX collapse price dip, and the DCG/Genesis narrative is slowly ending. This has seen a slight appetite for ETF inflows.
James is passionate about data, technology, and identifying trends. James is a freedom and technology maximalist, seeing Bitcoin as the greatest invention of the 21st century.
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Russian citizens sending ‘significant amounts’ via crypto to help Ukrainians
Ukraine's deputy digital minister Alex Bornyakov says that the country has seen over 650 BTC and 10,000 ETH in donations since the start of the war
Charlie Munger calls on US to join China in banning crypto
The Berkshire Hathaway vice president compared cryptocurrencies to gambling contracts with a nearly 100% edge for the house.
Bitfinex sends $8.5M in crypto to Alameda’s wallet in last 24 hours
Bitfinex made four transactions — which included $6 million USDT and 1545 Ethereum (roughly $2.52 million) — to the bankrupt firm's wallet.
White House report says it would a ‘grave mistake’ to deepen ties between crypto, broader financial system
The executive branch of the US government announced a roadmap today in efforts to bolster its enforcement of cryptocurrency risks
Coinbase stock surged 90% in January
COIN is up significantly this month despite the crypto industry's struggles.
Cardano stablecoin Djed TVL hits $10M in 24 hours, ADA up 4%
The stablecoin has a circulating supply of 1.7 million, while its reserve token's supply is at 20.8 million, according to data on its official website.
FTX attempting to recover millions donated to charities
Some charities have voluntarily agreed to return the funds, some have already spent the money, while others are awaiting legal clarity.
Update: Genesis sacks 30% of workers, may file for Chapter 11 bankruptcy
On Jan. 4, Genesis CEO Derar Islim wrote that the firm was "reducing costs and driving efficiencies" in all of its businesses.
Token Unlocks estimates $102B worth in locked up assets
XRP, FIL and OP have the largest estimated locked value with $17.9 billion, $4.9 billion, and $3.7 billion, respectively.
Coinbase leads the pack in crypto equities performance YTD
The prominent cryptocurrency exchange Coinbase leads crypto equities performance — with Coinbase stock price up 142% YTD.
Ethereum continues to underperform while majority of L1s outperform BTC
Ethereum has underperformed by over 4% against BTC in the last 2 weeks
Significant distribution in the Bitcoin network from all cohorts – similar pattern occurs after bear market bottoms
The Accumulation Trend Score indicator suggests that all BTC cohorts are currently in a state of distribution.
The Fed made the expected 25bps hike, both gold and Bitcoin surged on the news – highest correlation in 6 months
Bitcoin and Gold now have a 97% correlation in the last 6 months, in light of the expected 25bps Fed interest hike.