Author: Andrei Ionescu

Spot Ethereum exchange-traded funds (ETFs) in the U.S. closed 2024 with a bang, recording over $2.08 billion in net inflows in December, marking a historic high for the asset class. This nearly doubles November’s net inflows of just over $1 billion, according to data from SoSoValue. BlackRock’s ETHA fund led the charge, accumulating a staggering $1.4 billion in net inflows, with 13 consecutive days of positive momentum. Fidelity’s FETH fund followed with an impressive $752 million in inflows. Conversely, Grayscale’s ETHE fund bucked the trend, reporting net outflows of $274 million for the month. “The significant inflows into spot ETH…

Solana-based memecoin launchpad Pump.fun has exceeded $300 million in deposits to cryptocurrency exchange Kraken, according to on-chain data. On January 1, 2025, the platform moved another 120,000 SOL, valued at approximately $14.76 million, bringing its total deposits to 1,500,893 SOL. Transaction Highlights Declining Metrics Pump.fun’s recent transfer comes amid a notable decline in key metrics: Scrutiny and Controversy The decline in activity comes as Pump.fun faces increasing scrutiny: Future Outlook While Pump.fun’s substantial deposits to Kraken highlight its ongoing activity in the crypto space, the platform’s declining metrics and controversies underscore challenges facing the broader Solana ecosystem and the memecoin…

Binance, the world’s largest cryptocurrency exchange, announced significant updates to its token categorization process, extending its Monitoring Tag to new tokens, removing others, and updating Seed Tags for several assets. These changes will take effect on January 2, 2025, following the platform’s latest project review. Tokens Added to the Monitoring Tag The following tokens will now carry the Monitoring Tag, indicating higher volatility and associated risks: Tokens Removed from the Monitoring Tag The following tokens have shown improved stability and performance and will no longer carry the Monitoring Tag: Tokens Removed from the Seed Tag The following tokens will have…

The cryptocurrency market experienced notable outflows from Bitcoin and Ethereum spot exchange-traded funds (ETFs) on December 30, marking a continued trend of investor withdrawal amid year-end profit-taking and market uncertainty. Bitcoin Spot ETF Outflows Bitcoin spot ETFs recorded a total net outflow of $426 million, extending the streak of consecutive daily outflows to two days. Among these, Grayscale’s Bitcoin Trust (GBTC) reported a single-day net outflow of $135 million, contributing to its cumulative historical net outflow of a staggering $21.487 billion. Ethereum Spot ETF Outflows Ethereum spot ETFs also saw significant investor withdrawals, with a total net outflow of $55.4…

Bitcoin (BTC) markets showed continued bearishness late Monday, with prices briefly dipping below $92,000 before recovering to $92,800 as of Tuesday morning in Asia. Despite a year-end bitcoin purchase by MicroStrategy and the broader market’s anticipation for policy shifts under U.S. President-elect Donald Trump, traders and analysts forecast subdued activity heading into 2025. Modest Outlook for January Traders at Singapore-based QCP Capital noted in a Telegram broadcast that they were “skeptical of any New Year fireworks” as funding rates remain stable. They highlighted January’s historical average returns of +3.3%, similar to December’s +4.8%, suggesting price action might remain range-bound until…

OKX has published its 26th monthly Proof of Reserves (PoR) report, providing transparency into the platform’s asset holdings as of December 13. The snapshot reveals notable changes in user asset balances across major cryptocurrencies compared to the previous report on November 13. Key Highlights Transparency in Reserves The Proof of Reserves initiative is part of OKX’s ongoing commitment to transparency and user trust. It uses cryptographic tools like Merkle trees and public wallet addresses to verify the platform’s reserves, ensuring user funds are fully backed. OKX has consistently updated its PoR data since November 2022, allowing users and third-party auditors…

Binance Alpha, the pre-listing platform of leading cryptocurrency exchange Binance, has unveiled its eighth batch of project tokens, featuring a diverse range of concepts and blockchain ecosystems. The latest token lineup includes: Expanding the Ecosystem Binance Alpha continues to highlight projects with innovative themes and broad appeal, supporting diverse blockchain ecosystems like Ethereum, BNB Chain, and Solana. The inclusion of meme tokens alongside functional frameworks like ARC reflects the platform’s commitment to catering to a wide range of crypto enthusiasts and investors. Stay tuned for updates on these projects as Binance Alpha evaluates their potential for future listings on the…

Leading cryptocurrency exchange Bitget has unveiled a significant plan to burn 40% of its native token’s total supply, amounting to 800 million BGB tokens valued at approximately $6.8 billion. The initiative includes the introduction of quarterly token burns starting in 2025, funded by 20% of profits from the exchange’s operations and its associated crypto wallet services. This approach mirrors strategies employed by other major exchanges, including Binance, to bolster token value and create a deflationary effect. Unified Token Ecosystem The announcement follows Bitget’s recent decision to merge its Bitget Wallet Token (BWB) into Bitget Token (BGB), creating a unified ecosystem…

Blockchain data reveals a significant transaction involving one of the wealthiest Bitcoin addresses. Mempool monitoring indicates that the wallet ranked 30th on the Bitcoin rich list, starting with 3DR2iG, transferred 11,999 BTC—valued at approximately $1.19 billion—to another address beginning with 31wXuL at 12:08 (UTC+8) today. Despite this substantial movement, the originating wallet remains heavily stocked, retaining 15,357 BTC, equivalent to roughly $1.506 billion at current market prices. Details of the Transaction The transaction has sparked speculation within the crypto community, with observers debating whether this was an internal reallocation, preparation for a trade, or part of a larger strategy by…

U.S.-based spot Bitcoin ETFs have experienced a significant setback, shedding nearly $1.2 billion in outflows over a three-day period—the longest such streak since the days leading up to the 2024 re-election of former President Donald Trump. The three-day outflow streak has erased much of the inflow gains these ETFs achieved earlier in December. Decline in Value According to SoSoValue data, the 12 spot Bitcoin ETFs operating in U.S. markets recorded $1.18 billion in outflows between Dec. 18 and Dec. 23. Coupled with bitcoin’s declining price during this period, the total value held in these funds dropped by $10.7 billion, from…