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Share link:In this post: Ethereum whales have stopped accumulating ETH since July, analysts note. Interoperability issues across Layer 2 solutions like Polygon and Arbitrum could be frustrating users. Ethereum, with a $300 billion market cap, faces high expectations as per top industry executives.
Quick Take Global crypto investment products witnessed $726 million in net outflows last week amid rate cut uncertainty, according to CoinShares. This matches the largest recorded net outflows set in March, Head of Research James Butterfill noted.
Bitcoin starts trading above $55K early in the week, recovering from weekend losses. This is the final week of inflation data before the long-anticipated September Fed meeting. Trump and Kamala Harris’s Tuesday presidential debate will be the leading market catalyst.
Quick Take Polymarket users have bet $101,000 that Trump will say “crypto” at the second presidential debate on Sept. 10 in Philadelphia. The prediction sits low on the list of possible mentions, comparable to the 19% odds of Trump saying “alien” three or more times during the event.
- 08:42Harvest Portfolios to List Two Bitcoin ETFs on Cboe CanadaAccording to a report by Jinse Finance, Cboe Canada, a subsidiary of CME Group, announced the listing of two Bitcoin exchange-traded funds (ETFs) from asset management company Harvest Portfolios: the Harvest Bitcoin Enhanced Income ETF (HBIX) and the Harvest Bitcoin Leaders Enhanced Income ETF (HBTE). It is reported that both Bitcoin ETFs employ an active covered call strategy and use moderate leverage.
- 08:42Analysis: Recommend Continuing to Be Bullish on Bitcoin While Hedging Risks with Altcoin Perpetual ContractsMay 9 news, according to the latest report from Matrixport, the price of Bitcoin has once again surpassed $100,000, rising 16% since reaching a key level of $85,450 on April 11. The report indicates that after Bitcoin broke through the 21-week moving average ($87,199) and the Fibonacci resistance level ($87,045), coupled with accelerated ETF inflows, a strong upward signal was formed. Currently, Bitcoin's market capitalization share has risen to 64.5%, the highest since the DeFi boom in 2021, demonstrating the market's "safe haven" tendency. In contrast, altcoins continue to perform sluggishly, with social media attention dropping by more than 40% since December last year. The report suggests maintaining a bullish outlook on Bitcoin while hedging risks through perpetual contracts on altcoins.
- 08:42Abraxas Capital Increases Holdings by Over 61,400 ETH in Two Days, Valued at Approximately $116.3 MillionAccording to a report by Jinse Finance, monitored by Lookonchain, the price of ETH has surpassed $2300, with an increase of over 20% in the past 24 hours. Meanwhile, Abraxas Capital continues to increase its holdings, withdrawing 61,401 ETH from exchanges in the past two days, valued at approximately $116.3 million.