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  • BlackRock’s IBIT sets record $1.1 billion in daily inflows

    BlackRock’s IBIT sets record $1.1 billion in daily inflows

    • IBIT’s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
    • Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record indicates a “broader shift in institutional confidence” seen by BlackRock’s record net inflows
    • The 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January

    BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.

    The new record was noted on SoSoValue and comes when Bitcoin reached an all-time high of $76,677 across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

    BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days.

    Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT),” adding:

    “The growing institutional interest underscores Bitcoin’s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin’s role as a store of value and a potential hedge against inflation becomes ever clearer.”

    The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January.

    Nearing Satoshi’s wallet

    Bloomberg ETF analyst Eric Balchunas noted BlackRock’s new record in a post on X, saying: “Even I am surprised it’s that big, by far biggest one day flow of any BTC ETF ever.”

    Balchunas later added that the spot Bitcoin ETFs have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi Nakamoto’s 1.1 million Bitcoin.

    “This confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, particularly appealing amid traditional market uncertainties and as regulatory clarity improves,” said James Toledano, COO at Unity, a self-custody crypto wallet, to CoinJournal. “Just look at pension funds in both the UK and US investing in Bitcoin too. Sentiment has changed massively in such a short space of time.”

    Grayscale’s GBTC, the second-largest by net assets at $16.80 billion, saw a net inflow of $7.31 million. Fidelity’s FBTC reported $190.92 million and Ark and 21Shares saw $17.61 million.

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  • US spot Ethereum ETFs see largest daily outflows since July

    US spot Ethereum ETFs see largest daily outflows since July

    US spot Ethereum ETFs see largest daily outflows since July
    • Overall, US spot Ethereum ETFs saw $79.21 million in outflows on Monday, the largest since July
    • Grayscale’s ETHE recorded a significant $80.55 million outflow on the same day.
    • Spot Bitcoin ETFs had modest inflows of $4.56 million, led by Fidelity’s FBTC.

    On Monday, US spot Ethereum ETFs experienced their largest daily outflows since late July, totalling $79.21 million.

    This significant drop was primarily driven by the Grayscale Ethereum Trust (ETHE), which recorded an outflow of $80.55 million, marking its most substantial outflow since July 31.

    According to data from Sosovalue, ETHE was the only spot Ethereum ETF to report outflows on that day, highlighting a challenging period for the asset class.

    In contrast, Bitwise’s ETHW managed to post a modest inflow of $1.34 million, while the remaining seven spot Ethereum ETFs registered no significant movement.

    The total trading volume for the nine Ethereum ETFs reached $167.35 million, reflecting an increase from $139.47 million the previous Friday. This uptick in trading volume indicates that despite the outflows, investor activity in the Ethereum ETF space remains notable.

    Meanwhile, spot Bitcoin ETFs fared better, experiencing modest inflows of $4.56 million on the same day. This marks the continuation of a three-day streak of inflows, led by Fidelity’s FBTC, which attracted $24.93 million.

    BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also saw positive movement, with inflows of $11.54 million.

    However, Grayscale’s Bitcoin Trust (GBTC) recorded a $40.33 million outflow, making it the only spot Bitcoin ETF to face losses on Monday.

    As the cryptocurrency market fluctuates, with Bitcoin dropping 1.1% to approximately $63,122 and Ether falling 1.32% to around $2,627, these recent developments underline the volatile nature of digital asset investments. Investors will be keenly watching how these trends evolve in the coming days.

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  • Ronin Outpaces Solana to Grab Top 3 Daily Active Users; This GameFi Token Will Dominate Industry

    Ronin Outpaces Solana to Grab Top 3 Daily Active Users; This GameFi Token Will Dominate Industry

    If you’re tuned into the crypto scene, you might have heard the buzz surrounding Ronin lately. Ronin has surged ahead, surpassing Solana to claim a spot in the top three for daily active users. Meanwhile, Galaxy Fox is emerging as a formidable contender in the GameFi space, poised to dominate the industry with its innovative approach. 

    Let’s delve deeper into these exciting developments and explore why Galaxy Fox is considered one of the best ICO by many, presenting an unparalleled investment opportunity this year. 

    Ronin Outpaces Solana to Grab Top 3 Position of Daily Active Users

    Ronin is making waves in the cryptocurrency world, swiftly outpacing Solana to secure a coveted spot in the top three list for daily active users. Just recently, Binance announced the listing of $RON trading pairs, sending excitement rippling through the community. The surge in interest saw $RON hitting highs of around $3.51, nearing its previous peak of $4.29 back in January 2022.

    The surge in activity of this good crypto to buy coincided with a significant uptick in daily active users on the Ethereum sidechain, specifically tailored for gaming purposes. However, the initial excitement was short-lived as profit-taking ensued, causing $RON’s price to retreat by nearly 20% within hours. Despite this, the Ronin Network remains a pivotal player in the blockchain gaming sphere and much of the lost ground has already been regained.

    Designed by Sky Mavis, the creators of the immensely popular Axie Infinity, the Ronin Network was crafted to address the scalability issues plaguing gaming applications on traditional blockchains like Ethereum. Through a hybrid Proof-of-Authority and Delegated Proof-of-Stake consensus model, Ronin ensures rapid validation of transactions while upholding decentralization principles.

    What sets Ronin apart is its singular focus on meeting the demands of high-volume gaming applications. In 2021 alone, Ronin processed a staggering 15% of all NFT trading volume, showcasing its prowess in handling the needs of gaming ecosystems.

    $GFOX: The GameFi Token That Will Dominate the Industry 

    Galaxy Fox is a rising star in the world of cryptocurrencies, securing a spot in the best upcoming ICO list of many investors and analysts. Unlike traditional meme coins that offer little beyond hype, Galaxy Fox blends GameFi elements with a playful nod to meme culture, creating a unique and enticing investment opportunity.

    Galaxy Fox breathes new life into the meme ecosystem by introducing innovative features that combine gaming with financial incentives. With a Web3 endless runner game backed by NFTs already in place, the project plans to expand its gaming offerings in the future, promising a diverse and engaging experience for users.

    But Galaxy Fox isn’t just about fun and games—it’s also a sound investment. With a 6% buy-and-sell tax policy, revenues generated from transactions are used to fund staking rewards and maintain a marketplace for trading the coolest NFT assets and digital items. This ensures a steady flow of funds to support the project’s development and reward its community members.

    As Galaxy Fox gears up for its next presale stage, now might be the perfect time to get involved, as the current stage offers $GFOX at a discounted rate of $0.00198. With over $3.2 million already raised and 98% of the tokens for Stage 7 already sold, things are heating up fast. Don’t miss out on this opportunity to join a project poised for success in the burgeoning GameFi space.

    Conclusion

    Galaxy Fox stands as a beacon of innovation in the world of the best upcoming ICO, offering both entertainment and financial opportunities. With its unique blend of GameFi elements and meme culture, it’s primed to dominate the industry in the coming years. Visit Galaxy Fox’s website and join their community via Telegram to learn more and get involved in this exciting project.

    Learn more about $GFOX here:

    Visit Galaxy Fox Presale | Join the Community

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  • TRON Exceeds Bitcoin in Daily Active Addresses

    TRON Exceeds Bitcoin in Daily Active Addresses

    • Surprisingly, TRON takes the top spot on the list of cryptocurrencies with the most active daily addresses, with 1,643,580.
    • It is followed by Bitcoin, which has 867,570 active addresses.
    • In third place is Litecoin with 754,272 active daily addresses.

    Cryptocurrencies are always on the move, constantly changing and evolving. They’re often compared to the wild west of finance, breaking away from the rules of traditional markets. 

    A new analysis by CoinJournal.net utilised the most recent data available to reveal the cryptocurrencies with the highest average of daily active addresses, either as a sender or receiver of the crypto in question. 

    The snapshot from December 5, 2023 unveils an intriguing development—TRON outperformed Bitcoin in terms of worldwide daily user engagement.

    Rank Cryptocurrency Active address count
    1 TRON 1,643,580
    2 Bitcoin 867,570
    3 Litecoin 754,272
    4 Ethereum 478,541
    5 Stellar 109,897
    6 Dogecoin 99,677
    7 Bitcoin Cash 93,186
    8 Cardano 45,483
    9 USD Coin 33,920
    10 Ripple 28,201
    11 Ethereum Classic 15,472
    12 Chainlink 5,021
    13 Internet Computer 4,448
    14 Dai 2,756
    15 Wrapped Bitcoin 1,959

     

    1. TRON (TRX)

    At the forefront of blockchain activity on December 5, 2023, was TRON with an impressive 1,643,580 daily active addresses. The TRON network, known for its high throughput and decentralised applications, attracted a substantial user base actively engaging with TRX tokens.

    2. Bitcoin (BTC)

    Bitcoin, the pioneer of cryptocurrencies, maintained a robust presence with 867,570 daily active addresses. Despite its relatively lower throughput compared to some altcoins, Bitcoin’s widespread adoption and recognition ensured a substantial user base actively transacting on the network.

    3. Litecoin (LTC)

    Litecoin secured the third position with 754,272 daily active addresses. Known for its faster block generation time compared to Bitcoin, Litecoin’s user-friendly features and efficient transaction processing contributed to its significant presence in daily blockchain activity.

    4. Ethereum (ETH)

    Ethereum, the pioneer of smart contract functionality, boasted 478,541 daily active addresses. The Ethereum network’s versatility and wide range of decentralised applications facilitated a diverse set of users actively participating in transactions.

    5. Stellar (XLM)

    Stellar claimed the fifth spot with 109,897 daily active addresses. Focused on facilitating cross-border payments and bridging traditional finance with blockchain, Stellar attracted users seeking fast and low-cost transactions.

    Max Coupland, the director of CoinJournal, comments, “The cryptocurrency landscape, characterised by its dynamic nature, has long been dominated by the legacy and influence of Bitcoin. However, TRON’s unexpected triumph signals a potential shift in user preferences and highlights the evolving demands within the crypto community. While Bitcoin continues to command a substantial user base and remains a symbol of decentralised finance, TRON’s surge suggests that users are increasingly seeking platforms that provide more than just a store of value.”

     

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  • Bitcoin, Binance Coin, Polygon, and Shiba Inu Daily Price Analyses – 22 October Morning Prediction

    Bitcoin, Binance Coin, Polygon, and Shiba Inu Daily Price Analyses – 22 October Morning Prediction

    The global crypto market has continued to grow in value due to the influx of capital. The recent hours have seen a speedy growth in value, which has strengthened the emaciated coins. The value of Bitcoin, Binance Coin, and others will likely increase if the current trend continues. The last few months have proved trying for the market as the situation has worsened instead of improvement. There have been sparse moments of respite but no definitive positive change. 

    Spain has overtaken El Salvador to become the third-largest crypto ATM hub. Spain currently hosts 215 crypto ATMs, pushing El Salvador, which is home to 212 ATMs. While US and Canada are the top two countries with crypto ATMs. The ongoing changes have pushed El Salvador to the fourth position. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations. 

    Moreover, this data shows that Spain contributes 14.65% to Europe’s crypto ATM installations. Spain is followed by Switzerland, Poland, and Romania. The mentioned country installed 43 crypto ATMs in 2022. While it has plans to complete the installation of 100 ATMs by the end of the year. Thus, the total number of ATMs completed will reach 300. 

    Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others. 

    BTC continues to grow

    As whales have aggressively accumulated Bitcoin, $1 billion worth of BTC has left Coinbase in a day. Despite the slowdown in the market, resilience has been noticed for Bitcoin. The fundaments seem to be bringing Bitcoin to highs as the demand grows. 

    BTCUSD 2022 10 22 17 00 50
    Source: TradingView

    The recent changes for Bitcoin show a continuation of the positive trend. The latest data shows that it has added 1.07% over the last 24 hours. The seven-day data for Bitcoin shows an addition of 0.17%. 

    The continuation of gains has brought BTC’s price value to the $19,189.67 range. The market cap value for Bitcoin is estimated to be $368,178,487,675. The 24-hour trading volume of Bitcoin is about $28,659,590,616. 

    BNB stays bullish

    Quant has got listed in Binance futures as its price resets to $170. As it has been placed in Binance futures, there have been hopes for enhancement in its value. Though the price of this coin was rejected by the high of $220, it is still above the key support area. 

    BNBUSDT 2022 10 22 17 01 17
    Source: TradingView

    The recent changes for Binance Coin show strength in its value. The latest data shows that it has added 1.22% over the last day. The seven-day data shows that it has shed 0.29%. 

    The price value for BNB is currently in the $270.01 range. The market cap value for this coin is estimated to be $43,195,922,000. The 24-hour trading volume of this coin is about $509,928,449. 

    MATIC continues forward-march

    The performance of Polygon has also shown a positive trend. The latest data shows that it has added 4.61% over the last 24 hours. The weekly performance of this coin shows an addition of 3.61%. The price value for MATIC is currently in the $0.8256 range.

    MATICUSDT 2022 10 22 17 01 38
    Source: TradingView

    The market cap value for Polygon is estimated to be $7,218,796,717. The 24-hour trading volume of this coin is about $356,182,684. The same amount in its native currency is about 430,960,001 MATIC. 

    SHIB vigorous

    The value of Shiba Inu has also increased due to the bullish market. The latest data shows that it has added 2.71% over the last day. According to its weekly performance, there has been a decline of 1.74%. The price value for SHIB is currently in the $0.00001003 range. 

    SHIBUSDT 2022 10 22 17 03 56
    Source: TradingView

    The market cap value for Shiba Inu is estimated to be $5,505,243,502. The 24-hour trading volume of this coin is about $139,569,693. The circulating supply of this coin is about 549,063,278,876,302 SHIB. 

    Final Thoughts

    The global crypto market has seen a positive trend over recent hours. The latest data shows that Bitcoin, Binance Coin, and others continued to grow. As the market has retained gains, there has been a strength seen in its value. The global market cap value has also enhanced. The latest data shows that it is estimated to be $921.46 billion. 

    Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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