The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $23,156.94 and BTC market dominance is %. The price of Ethereum is $1,589.69 and ETH market dominance is %. The best performing cryptoasset sector is Yield Farming, which gained 10%.
Valkyrie Bitcoin Miners ETF “We’re Gonna Make It” (WGMI) has emerged as the best-performing fund in 2023, rising by over 100% in the past month.
Cover art/illustration via CryptoSlate
Bitcoin (BTC) exchange-traded products (ETPs) saw inflows of 6,031 BTC in the past week, according to data shared by Arcane Research’s Vetle Lunde.
Lunde said the ETPs recorded a cumulative net inflow of 9,131 BTC over the past month — the highest monthly inflow since May 2022, when ETPs recorded inflows of 9,765 BTC.
Outflows of 20,124 BTC followed the May 2022 inflow in June 2022, when the flagship digital asset declined by 40% to less than $20,000. Since then, Bitcoin ETFs have been treading water, recording more outflows than inflows until January 2023.
Meanwhile, there is a notable difference in the geographical composition of the ETFs that saw the most inflows this month compared to May 2022, when Canadian ETFs like Purpose Bitcoin dominated it.
However, the current inflows appear to be shared equally among European, US, and Canadian ETFs in January 2023.
Valkyrie Bitcoin Miners ETF “We’re Gonna Make It” (WGMI) has emerged as the best-performing fund in 2023, rising by over 100% in the past month, according to Bloomberg’s data. The ETF, launched in February 2022, lost more than 80% of its value in 2022.
The ETF holds stocks from mining companies like Hive Blockchain Technologies Ltd, Marathon Digital Holdings Inc., Bitfarms Ltd, etc. All these miners have also seen their stock value rise significantly in 2023 following a brutal past year that saw their value decline.
However, the early positive returns are not enough to restore investors’ profits, as most ETFs are still trading below their all-time highs. For context, the WGMI is down 68.32% from its February 2022 starting price.
Meanwhile, the positive performance of these ETFs is mainly driven by the current market sentiments around the crypto industry. The crypto industry has enjoyed a blistering start to the new year, with Bitcoin and Ethereum (ETH) rising by more than 30% in the past month.
Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.
CryptoSlate looked at the data surrounding notable token unlocks to see how they affect the market.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Valkyrie Investments is a specialized alternative asset management firm at the intersection of traditional finance and the emerging digital asset sector which is headquartered in Nashville.
HIVE Blockchain Technologies is the first publicly traded crypto miner which debuted on the Toronto Venture Exchange in 2017 and trades under the ticker HIVE.
Bitfarms (NASDAQ/TSX: BITF) is a Canadian Bitcoin mining company that was founded in 2017.
Marathon Digital Holdings is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Musk believes market forces will determine the success or failure of Central Bank Digital Currencies (CBDCs).
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Some charities have voluntarily agreed to return the funds, some have already spent the money, while others are awaiting legal clarity.
On Jan. 4, Genesis CEO Derar Islim wrote that the firm was “reducing costs and driving efficiencies” in all of its businesses.
XRP, FIL and OP have the largest estimated locked value with $17.9 billion, $4.9 billion, and $3.7 billion, respectively.
CryptoSlate looked at the data surrounding notable token unlocks to see how they affect the market.
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