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$ETH, $XRP, and $ADA Investment Products Saw Highest Inflows for Week Ending June 4

The most recent report (released on June 7) from CoinShares, Europe’s largest digital asset investment firm, although there has been a turn in investment sentiment since May, investment products for Ethereum, XRP, and Cardano are still seeing net inflows. The report said: “Digital asset investment products saw outflows totalling US$94m last week. Sentiment last week […]

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The most recent report (released on June 7) from CoinShares, Europe’s largest digital asset investment firm, although there has been a turn in investment sentiment since May, investment products for Ethereum, XRP, and Cardano are still seeing net inflows.

The report said:

Digital asset investment products saw outflows totalling US$94m last week. Sentiment last week was more mixed with only one product provider seeing significant outflows while the rest saw inflows. Despite the net outflows we believe it implies an early turn in sentiment since May, where most product providers were seeing net outflows and sentiment was broadly negative.

The negative sentiment was again focussed on Bitcoin which saw outflows totalling US$141m, marking the largest single week of outflows on record. The outflows represent 8.3% of the net inflows seen this year and remain minimal on relative terms to the outflows seen in early 2018.

Ethereum continues to see inflows into investment products totalling US$33m, remaining the altcoin of choice for investors. XRP saw inflows totalling US$7m, the largest since April, while both Cardano and multi-asset products saw inflows of US$4.5m and US$2.7m respectively.

Digital asset investment product trading volumes highlight investors remain cautious in Bitcoin with weekly volumes having fallen 62% compared to last month. This has also been reflected in the broader Bitcoin ecosystem where volumes on trusted exchanges have fallen 50%.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “WorldSpectrum” via Pixabay

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoglobe.com/latest/2021/06/eth-xrp-and-ada-investment-products-saw-highest-inflows-for-week-ending-june-4/

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Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

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During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


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Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

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Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

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During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


ADVERTISEMENT

Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

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Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

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Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

Published

on

During the first half of 2021, the ETH volume surged by more than 1,400% totaling $1.4 trillion, while BTC’s increased by 489%, reaching a total of $2.1 trillion.

ETH Beats BTC for The First Time

Coinbase took data from 20 trading venues and released a report, where it informed that Ether’s trading volume spiked by 1,461% during the first six months of 2021. Its total climbed to $1.4 trillion compared to $92 billion in the first half of 2020. In the meantime, Bitcoin marked an increase of 489%, and its trading volume hit $2.1 trillion.

The Coinbase report noted:

“Many of our largest institutional clients, including hedge funds, endowments, and corporates, increased or added first-time exposure to ETH in H1, believing the asset has long-term staying power tantamount to BTC’s while playing a differentiated role in their portfolios.”

The research also revealed the total market capitalization numbers for the first half of 2021. At the beginning of the year, the market started at $769 billion and surged to $2.4 trillion in May. Subsequently, it declined to $1.4 trillion by the end of the period.

The largest chunk of Bitcoin’s profits came during the first months of 2021 until April, when its price escalated towards an ATH. On the contrary, Ether saw the most of its earnings in May 2021, when it was worth more than $4,000.


ADVERTISEMENT

Can ETH Become The Largest Cryptocurrency?

The debate whether Ether can surpass Bitcoin and become the leading digital asset has been a hot topic in the last few years.

At the beginning of May, the billionaire owner of the Dallas Mavericks – Mark Cuban – joined the argument and gave his three reasons why ETH will eventually outperform BTC: Ethereum’s network is capable of processing more transactions per second, and it is the platform where “the future of finance” is built. It also boasts a higher utilization compared to Bitcoin.

The prominent investor Mike Novogratz also gave his two cents on the matter. The renowned crypto bull hinted that such a scenario where Ether surpasses Bitcoin is possible as the network behind the second-largest cryptocurrency is rapidly expanding. However, he outlined the characteristics of the two digital assets expecting BTC to be the digital version of gold while ETH will have different purposes:

“I think Ethereum may even become the biggest cryptocurrency one day but it will have a very different use case than BTC.”

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

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Source: https://coingenius.news/analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet/?utm_source=rss&utm_medium=rss&utm_campaign=analysis-bitcoin-is-undervalued-2021-bull-run-hasnt-topped-yet

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Coinbase Report: ETH Trading Volume Increased More Than Bitcoin’s in First Half of 2021

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Bitcoin exchange reserve has fallen off a cliff, on-chain analysis shows. This behavior is usually a bullish indicator for the BTC market.

Bitcoin All Exchanges Reserve Is Down

As pointed out by a CryptoQuant post, the BTC all exchanges reserve indicator has surged downhill over the past couple of days.

The Bitcoin all exchanges reserve is an indicator that shows the amount of BTC stored in wallets of all exchanges. When the metric’s value goes up, it means more investors are sending their crypto to exchanges.

More BTC in exchanges implies a selling pressure. On the other hand, when its value goes down, it means investors are sending their coins from exchange wallets to personal ones.

Related Reading | Bitcoin To Reach New All-Time Highs, Market Strategist

Here is a chart showing the trend in the value of the BTC all exchanges reserve over the last two months:

Bitcoin All Exchanges Reserve

The BTC all exchanges reserve seems to have steeply declined | Source: CryptoQuant

As the above graph shows, the metric has fallen down with quite the steep slope. Just over the past two days, the indicator has dropped more than 100K Bitcoin in value!

Since the value of the indicator going down means more BTC moving out of exchanges, it might mean that there is a buying pressure in the market. The price should be affected positively by this.

Related Reading | Survey Says! Institutional Investors Are Still Bullish On Bitcoin

A look at outflow charts of popular exchanges shows massive movement. Coinbase Pro saw 30k BTC exiting the platform on Wednesday, while Binance, the largest exchange by trading volume, saw around 29k BTC moving out of its wallets.

A couple of days back, Binance observed huge netflows. The price moved positively afterwards so that it’s possible that the all exchanges reserve plummeting will make the price go up this time too.

Bitcoin Price

At the time of writing, Bitcoin’s price is floating around $39.8k, up 24% in the last 7 days. Over the last month, the crypto has gained almost 15% in value.

Here is a chart that shows the trend in the price of BTC over the last 3 months:

Bitcoin Price Chart

BTC catches a sharp upwards trend | Source: BTCUSD on TradingView

After struggling in a range bound market for quite the while, Bitcoin has finally gained some of the volatility back. The rapid price swing of $34.5k to $39.5k was accompanied by the biggest short squeeze in the history of the coin as short sellers hurried to cut their loses.

The crypto is now testing the $40k resistance level, and if it can keep the rally up and push through, it’s likely that the » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin will reach the $45k mark. However, if the level can’t be surpassed, BTC could fall back to a range bound market.

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Source: https://www.newsbtc.com/news/bitcoin/bitcoin-bullish-btc-exchange-reserve/

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Click here to access.

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