#255m

In a quick-commerce market obsessed with speed, Indian startup FirstClub has convinced investors that quality may be a fresh opportunity, helping to double its valuation just nine months after its last funding round. — Key Takeaways Quality Trumps Speed for a Growing Niche: FirstClub has secured a significant Series B funding round, valuing it at $255 million, by successfully demonstrating that…

Fifth week of losses in crypto investment products sees $255M withdrawals

(adsbygoogle = window.adsbygoogle || []).push();

Ad

Digital asset-based investment products saw $255 million in outflows during the week of Mar. 6 – 12, marking the fifth consecutive week of losses, according to CoinShares’ weekly report.

The amount also marks the most significant single weekly outflow on record, which currently accounts for 1% of the whole market, as CoinShares’ data indicates. During the week of Mar. 6 – 12, the total assets under management (AuM) recorded a 10% decline, which “wiped out the inflows seen this year,” according to the report.

Flows by asset

Bitcoin (BTC) – based investment products recorded the largest outflow last week with $243.5 million outflows, accounting for over 95% of the total flows recorded during the week.

Flow by the asset (Source: CoinShares)

Ethereum (ETH) followed BTC by recording the second-highest amount at $11 million. Even though they have recorded inflows over the past few weeks, Short-BTC products lost $1.2 million in outflows and placed third in the ranking.

Litecoin (LTC) and Tron (TRX) also recorded 300,000 outflows each. On the other hand, Solana (SOL),  Ripple (XRP), and Polygon (MATIC) ended the week by growing 400,000, 300,000, and 100,000, respectively.

Flow by provider

Looking at the flow of the funds based on the providers, 3iQ emerges as the institution that recorded the highest amount of outflows by recording $129.4 million.

Flow by Provider (Source: CoinShares)

Coinshares physical and Coinshares XBT lost a combined $12.8 million, while 21Shares recorded $9.2 million in outflows. Purpose and other institutions also recorded 400,000 and $23.4 million in outflows last week.

On the other hand, ProShares emerged as the only institution that recorded inflows and grew by $10.7 million within seven days.

(adsbygoogle = window.adsbygoogle || []).push(); #week #losses #crypto #investment #products #sees #255M #withdrawals

Bitcoin breaks $21,000 alongside $255m of 24-hour spot purchases

(adsbygoogle = window.adsbygoogle || []).push();

Bitcoin has broken $21,000.

According to Coingecko data, BTC was valued at $21,083 at 12:59 a.m. UTC on Jan. 14. Its market cap was $403 billion. That change represents a 12% increase in 24 hours.

Bitcoin prices for Jan. 13-14 via CoinGecko (time in PST)

Data also shows that $245 million of shorts have been liquidated over the past 24 hours, while $255 million of Bitcoin was bought on spot markets today.

There are no major events that could have had an obvious positive effect on investor activity. Rather, changing investor sentiment may be due to a lack of bad news — and due to the fact that major crises like FTX’s collapse are fading into the past.

Furthermore, Bitcoin’s gains today represent ongoing growth over the past several days. This week, positive anticipation and sentiment toward a Consumer Price Index (CPI) announcement appeared to contribute to Bitcoin’s price growth.

The round number of $20,000 also represents a psychological barrier, and as such, investors may be optimistic now that Bitcoin has crossed it.

Bitcoin typically leads the crypto market, and its performance today contributed to the crypto market’s overall growth. The entire crypto market cap was up 8% over the past 24 hours, and it now has a market cap of $1.02 trillion.

Both Bitcoin and the entire crypto market outperformed the stock market today. The Dow Jones was up 0.3% today, while the S&P 500 was up 0.4%.

However, some altcoins have seen modest growth compared to Bitcoin. Ethereum was up 9.8%, while XRP, BNB, and Polygon each gained close to 6%. It remains to be seen whether the crypto market will continue to trend upward.

At the time of press, Bitcoin is ranked #1 by market cap and the BTC price is up 11.64% over the past 24 hours. BTC has a market capitalization of $404.6 billion with a 24-hour trading volume of $35.75 billion. Learn more ›

BTCUSD Chart by TradingView

Bitcoin On-Chain Analysis

Market summary

At the time of press, the global cryptocurrency market is valued at at $983.38 billion with a 24-hour volume of $64.86 billion. Bitcoin dominance is currently at 41.13%. Learn more ›

(adsbygoogle = window.adsbygoogle || []).push(); #Bitcoin #breaks #255m #24hour #spot #purchases