Bitcoin (BTC), which showed a good performance according to the crypto market, increased by 4.4 percent and tested $ 67,000, while the CoinDesk 20 Index (CD20) gained 3.3 percent.
According to CoinGecko data, Solana’s SOL led the gains among major tokens by volume, jumping more than 5%. Ether (ETH), BNB Chain’s BNB, and Cardano’s ADA rose 3%. Dogecoin (DOGE) gained 4%, while Solana-based memecoin popcat (POPCAT) led the gainers in this category, rising more than 8%.
Ether products led the liquidations in crypto futures, with over $70 million worth of long positions liquidated compared to $55 million in BTC futures.
The value of open positions has fallen by $1 billion in the last 24 hours, indicating an outflow of money from the market.
Bitcoin exchange-traded funds (ETFs) have attracted another net $31.16 million, bringing their cumulative net inflow to $17.5 billion since their launch in January, according to data from SoSoValue. The ETFs have a combined net assets of $59.14 billion, or about 4.6% of the leading cryptocurrency’s entire market cap.
According to CoinDesk Indices data, the second-largest cryptocurrency, ether, rose 2.8 percent to above $3,200. According to SoSoValue data, ether ETFs experienced a net daily outflow of $152 million. The current cumulative flow since the ETFs began trading this week is negative $178.68 million. This is mainly due to withdrawals from the Grayscale Ethereum Trust (ETHE), which was converted into an ETF.
Grayscale Ethereum Trust is following a similar path to GBTC but is seeing faster flows, turning dips into a “significant buying opportunity,” said Mads Eberhardt, a crypto analyst at Steno Research.
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Decentralized finance (DeFi) protocol Aave’s native token AAVE has gained 15 percent, outpacing BTC and ETH, as the market welcomes its token buyback offer.
The proposal, currently in a “provisional review” phase where feedback is being solicited, will contribute to protocol revenue by buying back AAVE tokens from the secondary market and redistributing them to stakers.