Crypto Pumps: Investors Put $116M into Bitcoin Investment Products

Reading time:

• Digital asset investment products recorded inflows of $117 million last week, the biggest since July 2022.
• Bitcoin accounted for nearly all of the weekly inflows with $116 million and total assets under management (AUM) rose by 43%.
• Investment products also saw an improvement in terms of weekly volumes with $1.3 billion traded.

Investment Products Record Biggest Inflow Since July

Digital asset investment products saw inflows of about $117 million last week, the biggest since July 2022. Bitcoin saw almost all of last week’s digital asset investment products inflows, with $116 million of the total. Total assets under management (AUM) rose by 43%, roughly from inflow lows recorded in November.

Bitcoin Sees Most Fund Inflows

Bitcoin saw the most fund inflows this past week, with the benchmark cryptocurrency accounting for nearly all of the weekly inflows. According to a weekly report digital asset manager CoinShares shared on Monday, crypto asset investment products recorded inflows of $117 million. Other cryptocurrencies also experienced some level of inflow such as Ethereum and Solana which received $2.3 million and $1.1 million respectively while multi-asset investment products saw outflows totaling at around 6.4 million dollars. Binance and XRP also saw outflows of around $400,000 and $200,000 respectively during this period as well.

Total Assets Under Management Rise By 43%

The spike in Bitcoin’s price above 23K pushed total assets under management (AUM) to over 2.8 billion dollars, a rise by 43% from its November low as investors put more money into Bitcoin investment products as crypto pumped up its value post breaking new highs every day which is actually very encouraging for those looking forward to getting into cryptocurrency investments for long term gains or even short term profits!

Weekly Volumes Improve Significantly

Investment products also saw an improvement in terms of weekly volumes compared to year-to-date averages: approximately 1.3 billion was traded across digital asset investment products which is 17% higher than usual average rate seen in this sector throughout 2021/22 season so far! Additionally there were notable differences between regions when it comes to inflow rates as Germany accounted for 40% ($46Million), followed by Canada ($30 Million), USA ($26 Million) & Switzerland ($23 Million).

Conclusion

As evident from above figures it is quite clear that investing into bitcoin has become much more popular lately due to its rising prices & growing acceptance among masses & institutional investors alike hence making it an attractive choice for many people who are looking forward to venture into cryptocurrency world without taking too much risk or waiting too long time periods before they can see any kind returns on their investments!

Pyth Network Expands Onto Arbitrum, Unlocking New DeFi Possibilities

Reading time:

• Oracle platform Pyth Network has announced the expansion of its price feeds onto layer-2 blockchain protocol Arbitrum.
• Developers and other Arbitrum users now have access to over 200 price feeds covering crypto, equity, FX pairs and commodities.
• The integration of Pyth will support the DeFi community on Arbitrum and power dApps in the Ethereum ecosystem.

Oracle platform Pyth Network has announced its expansion onto layer-2 blockchain protocol Arbitrum, providing developers and other users within the Ethereum scaling solution’s ecosystem with access to over 200 price feeds across crypto, equities, FX pairs and commodities.

The integration of Pyth will open up more opportunities to the DeFi community on Arbitrum, while also powering a number of decentralised applications (dApps) within the Ethereum world. Pyth is already powering CAP Finance and Perpy Finance on Arbitrum, with more projects set to follow suit.

Mike Cahill, the Director of the Pyth Data Association, spoke about the integration, saying it is a significant step for the platform. “We’re excited to continue our expansion in the Ethereum world,” Cahill said. “Arbitrum is a great scaling solution for Ethereum, and the ability to provide our price feeds and data solutions to the developers and projects on Arbitrum is a great milestone for us.”

With the integration of Pyth on Arbitrum, projects within the Ethereum world now have access to a new oracle network to tap into for data needs. This includes price feeds that cover major cryptocurrencies, equities, FX pairs, and commodities. Pyth will also provide developers with the ability to use its data solutions to build and launch projects on Arbitrum.

The integration of Pyth onto Arbitrum opens up a whole new world of possibilities for the Ethereum ecosystem. Projects within the community can now access an enhanced range of price feeds, while developers can also use Pyth’s data solutions to build more powerful dApps. This is a great step forward for the DeFi space, and it will be interesting to see what new projects emerge as a result of the integration.

Former FTX.US President Raises $5M for DeFi Platform Architect

Reading time:

• Brett Harrison, the former FTX.US president, has raised $5 million in a seed round funding for his new crypto project for institutional investors.
• The new platform is a decentralised finance (DeFi) venture dubbed Architect and has been in stealth development since last September.
• Investors to back the former FTX.US president’s startup Architect include Coinbase Ventures, Circle Ventures, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel.

Brett Harrison, the former president of FTX.US, has announced that his new crypto project for institutional investors has successfully secured $5 million in a seed round funding. The venture has been christened Architect and has been in stealth development since September last year. It is a decentralized finance (DeFi) project, and some of the top venture investors in the crypto space have backed it, including Coinbase Ventures, Circle Ventures, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.

Architect is building trading software that is meant to streamline the crypto markets. According to Harrison, Architect will provide a comprehensive suite of tools to help traders, institutions and developers access the markets in a secure and efficient manner. It will also offer a web-based interface, which will allow investors to track their portfolios, manage their trades and access market data in real-time.

The project is also developing an open-source protocol that will enable developers to create custom trading strategies, automate their trades and monitor their portfolios. The protocol is designed to be secure and reliable, and to support a wide range of trading strategies. Additionally, it will provide access to a range of liquidity sources, such as exchanges, wallets and OTC desks.

Architect is committed to providing a secure, reliable and transparent platform for institutional investors. It will be built on a decentralized architecture, meaning that all data and transactions will be stored on a distributed ledger. This will ensure that all users’ data is safe and secure, and that it cannot be manipulated or tampered with.

In addition, Architect is aiming to provide an easy-to-use platform that will make it easier for investors to access the crypto markets. It will also offer a range of educational resources to help investors understand the different aspects of crypto trading.

Ultimately, Architect is aiming to become the go-to platform for institutional investors in the crypto space. It is aiming to provide the tools and resources needed to make crypto trading more accessible and secure. With the backing of some of the top venture investors in the crypto space, Architect is well-positioned to become the leading platform for institutional investors.

VVF: $1 Billion Venture Fund for MENA Digital Economy & Blockchain Innovation

Reading time:

•The Venom Foundation and Iceberg Capital have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF).
•The blockchain-agnostic fund will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.
•The fund’s leadership team consists of experienced traditional finance and blockchain professionals, including Peter Knez, ex-CIO at BlackRock and Mustafa Kheriba, a seasoned and well-known investment professional with a strong track record in the MENA region.

The Venom Foundation, a Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), and Iceberg Capital, an ADGM regulated investment manager, have announced the launch of a $1 billion venture fund called Venom Ventures Fund (VVF). The fund will focus on investing in innovative protocols and Web3 dApps, with a particular emphasis on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.

The fund’s leadership team consists of experienced traditional finance and blockchain professionals, including Peter Knez, ex-CIO at BlackRock, and Mustafa Kheriba, a seasoned and well-known investment professional with an impressive track record in the MENA region. Through leveraging Iceberg Capital’s network, expertise, and capabilities, VVF will offer incubation programs and access to an extensive industry network. Additionally, VVF will offer investee projects with marketing, exchange listing, technical, legal, and regulatory support.

VVF will be an essential part of the Abu Dhabi Global Market’s mission to become the blockchain hub of the MENA region. The fund will build up the ecosystem of the blockchain industry and promote the development of the digital economy. It will also provide an opportunity for the region’s entrepreneurs to access the necessary resources to grow their businesses.

VVF will be a game-changer in the MENA region, and it has the potential to revolutionize the way digital technologies are developed and utilized. With its vast resources and capabilities, VVF will be an invaluable asset for the region’s entrepreneurs and innovators. The fund will provide them with the support and resources that are necessary to make their projects a success.

VVF will be an important step forward in Abu Dhabi’s ambitions to become the hub of the blockchain industry and the MENA region’s digital economy. It will provide the necessary resources for entrepreneurs to reach their full potential and build the future of the digital economy.

Bonk’s 2500% Surge Boosts Solana Price Above $13

Reading time:

• Bonk is a meme coin launched on the Solana blockchain
• The token has risen close to 2,500% since its launch on Christmas Day
• Solana has bounced back in conjunction with the surge for Bonk, now trading above $13

The cryptosphere is abuzz with the news of Bonk, a popular doggy themed token, that was issued on the Solana blockchain on Christmas Day. Since its launch, the meme-inspired token has seen an incredible surge of 2,500%, with the price increasing 150% in the last hour alone. The rise of Bonk has coincided with the resurgence of Solana, which had been facing a difficult patch in recent months.

The blockchain had been struggling with multiple top projects fleeing the network, repeated outages causing massive problems, and its association with Sam Bankman-Fried leading to a drop in the price. However, with the launch of Bonk on the blockchain and its subsequent surge, Solana has now jumped back above $13, having dropped as low as $8 last week.

The surge in Bonk’s price has been underpinned by the token’s popularity on Twitter, with users embracing the nostalgic feeling of a good old-fashioned meme token. Despite the hype around the token, our Analyst has warned against investing in Bonk and other meme tokens, given the current climate in the market.

It remains to be seen how the token will fare in the coming weeks, with its launch on Solana offering a much-needed boost to the blockchain. Whether the token will continue its surge over the next few months or not, remains to be seen.

Bonk Meme Token Rockets 2,500%, Boosting Solana Blockchain

Reading time:

• Bonk is a meme coin launched on Solana on Christmas Day that has surged close to 2,500%.
• Solana, however, has been struggling lately due to top projects fleeing the blockchain, repeated outages, and its association with Sam Bankman-Fried.
• Despite this, Solana is bouncing back in conjunction with the surge for Bonk, jumping back above $13 Tuesday.

The festive season was abuzz with news of Bonk, a doggy token on the Solana blockchain. The meme coin was launched on Christmas Day and has since risen close to 2,500%. As I write, the price has surged 150% in the last hour. Despite this, the blockchain has been struggling of late. Not only have many top projects fled the blockchain, but repeated outages have caused massive issues. This has been further compounded by the ominous association between Solana and Sam Bankman-Fried, leading to a dip in the price of the blockchain.

However, it appears that the surge in Bonk is bringing Solana back. The blockchain jumped back above $13 Tuesday, having dipped as low as $8 last week. According to Coinglass data, there has been close to $100 million in trading volume on Bonk since its launch, with the majority of the trading occurring in the last 24 hours. This is a clear indication that Bonk is gaining traction amongst the cryptocurrency community.

The question now is whether Bonk is a bubble or not. Our Analyst writes that this is not the climate for memecoin hysteria, and that caution should be taken. They recommend that investors should look at the fundamentals of Bonk before making an investment decision.

In conclusion, it appears that the surge in Bonk is helping to buoy Solana, despite the blockchain’s recent struggles. Although caution should be taken when investing in Bonk, the meme coin is certainly gaining traction. It remains to be seen whether this is a bubble or a legitimate investment opportunity.

UK’s NFT Industry Set to Boom with 34.5% CAGR Over Next 5-6 Years

Reading time:

• The United Kingdom’s NFT industry is expected to grow at a CAGR of 34.5% over the next 5-6 years.
• NFT spend in the UK will increase from $1,725.2 million in 2022 to $9,257.0 million by 2028.
• Key segments in the next few years will be collectibles and art, real estate, sports, gaming, fashion & luxury and utility.

The Non-Fungible Token (NFT) industry is an emerging sector that is projected to revolutionize the digital asset landscape in the United Kingdom. The NFT industry has been gaining traction in recent years, with an increase in the number of people interested in the booming sector. According to a recent report by Research and Markets, the UK’s NFT industry is expected to experience tremendous growth over the next 5-6 years, with an estimated CAGR of 34.5%.

The report further revealed that the NFT spend in the UK will increase from $1,725.2 million in 2022 to $9,257.0 million by 2028. This staggering growth is attributed to the increased adoption of digital assets, government support, and venture funding in the sector. The report also highlighted key segments that will drive the growth of the industry in the coming years. These include collectibles and art, real estate, sports, gaming, fashion & luxury, and utility.

The increased adoption of digital assets has had a positive impact on the NFT industry in the UK. The government has been supportive of the sector, with initiatives such as the Digital Economy Act and the Digital Economy Strategy designed to stimulate the growth of the industry. Moreover, venture capital firms have been investing heavily in the sector, with the UK being a prominent hub for NFT investments.

The NFT industry has also seen tremendous growth in the collectibles and art segment. The segment has seen an influx of new investors and collectors, with the trend of collecting digital art and collectibles becoming increasingly popular. The segment is expected to account for a significant portion of the NFT spend in the UK by 2028.

The sports segment has also seen tremendous growth in the UK, as the popularity of esports continues to rise. The segment has seen an increase in the number of professional esports tournaments and events being held in the UK. This has resulted in an increase in the number of people investing in sports-related NFTs.

The gaming segment has also been experiencing significant growth, as more people are turning to gaming as a means of entertainment. The segment has seen an increase in the number of people investing in gaming-related NFTs. The fashion and luxury segment has seen an increase in the number of people investing in luxury items such as designer clothing and watches.

Finally, the utility segment is expected to be one of the fastest-growing segments in the NFT industry over the next 5-6 years. The segment is expected to benefit from the increasing demand for blockchain-based applications. The segment is expected to account for a significant portion of the NFT spend in the UK by 2028.

In conclusion, the UK’s NFT industry is projected to experience significant growth over the next 5-6 years, with an estimated CAGR of 34.5%. Increased adoption, government support, and venture funding will be key factors driving the growth of the industry. Key segments that are expected to drive the growth of the industry include collectibles and art, real estate, sports, gaming, fashion & luxury, and utility.

Get In Early and Reap the Rewards with Metacade’s MCADE Token Presale

Reading time:

• Metacade’s (MCADE) presale is an attractive investment opportunity, with its beta phase having attracted over $1.3 million of investment in just four weeks.
• The MCADE token price is currently on the rise, and is set to reach $0.02 at the end of its presale.
• For investors looking to get a good deal, the sooner you pick up tokens the better.

Crypto presales are becoming increasingly popular, with investors seeking out promising projects that offer long-term gain potential. One such project is Metacade (MCADE). Metacade is building a major GameFi platform to rival some of the biggest names in the space, so it’s worth investigating before the price rises even further.

The Metacade presale is proving to be an attractive investment opportunity. The beta phase of the MCADE presale attracted over $1.3 million worth of investment in just four weeks, demonstrating the project’s long-term potential. Metacade launched its MCADE token at $0.008 at the beginning of its crypto presale, and the price has been on the rise since then. The price is set to reach $0.02 at the end of the presale, making it an ideal time for investors to get in at a good price.

For those who are looking to maximize their earning potential, it is important to get in on the presale as early as possible. The sooner an investor picks up tokens, the more likely they are to get a good deal. This is due to an economic principle known as the law of diminishing returns, which states that an asset’s value growth will begin to slow down over time.

Once the presale ends, MCADE will be available to purchase on decentralized exchanges (DEXs). This will open up the project to a much wider range of investors, making it easier for them to buy and sell the token. In addition, Metacade is expected to be listed on a major centralized exchange in 2023, which could further boost the token’s price.

Overall, Metacade is a promising project with the potential to deliver great returns in the future. For investors looking to get in early and reap the rewards, the Metacade presale is the ideal opportunity. The MCADE token price is set to rise further, so it is important to act fast and pick up tokens while they are still cheap.

Investors Urged to Take Diligent Approach When Investing in Crypto

Reading time:

• John Stark, a former chief of the SEC office of internet enforcement and president of John Reed Stark Consulting, joined CNBC’s ‚Squawk Box‘ to discuss the collapse of crypto exchange FTX.
• The host raised the issue of due diligence, more specifically the lack thereof where investments in FTX were concerned.
• Stark defended the state agencies, pointing out they’ve won many cases; they stopped ICOs, lending programs, agreements for future tokens.

John Stark, a former chief of the SEC office of internet enforcement and president of John Reed Stark Consulting, recently joined CNBC’s ‚Squawk Box‘ to discuss the collapse of crypto exchange FTX. The show’s host raised the issue of due diligence, or the lack thereof when it comes to investments in FTX. Stark expressed his agreement with the host’s sentiments, noting that the business model FTX was based on wasn’t something the public was familiar with.

He went on to explain that investors tend to look for value and the long-term when they invest, not the product or service in question. He then questioned which agency should be held accountable and ashamed for a situation where customers have lost their money and have no claims on anything coming out of bankruptcy.

Stark defended the state agencies in this case, pointing out the work they’ve done in the past to stop ICOs, lending programs, and agreements for future tokens. He also noted that Dinner meetings between Bankman-Fried and government officials were “bad judgment” and that investors should take a more diligent approach when investing in crypto.

In conclusion, Stark urged investors to take a more methodical approach when it comes to investing in crypto. He noted the importance of doing research into the product or service in question, as well as the team and the project’s long-term goals. He also warned investors to be wary of any company that fails to provide adequate due diligence and to always be aware of the risk involved.

Crypto Market in 2023: VC Funds, Banks, and Starbucks to Invest Despite Retail Investor Uncertainty

Reading time:

• Jacquelyn Melinek predicted that retail investors will sit out of the crypto market in 2023.
• VC funds will continue to invest in the crypto space, and banks and big brands like Starbucks will be entering the arena.
• Melinek stated that trust needs to be rebuilt in the crypto ecosystem in order for it to get its mojo back.

Cryptocurrency has been having a tumultuous year in 2022, with major events such as the collapse of Terra shaking the digital asset sector. Jacquelyn Melinek, senior crypto reporter at TechCrunch, recently talked to CNBC Market Alert about what lies ahead for the crypto market in 2023.

Melinek predicted that retail investors will likely sit out of the crypto market in 2023, as many investors have lost faith in the space due to its tumultuous year. However, Melinek also stated that there are true believers in the crypto space who will continue to remain and build the sector.

When asked who will be the main investors in crypto in 2023, Melinek stated that VC funds will continue to invest despite the issues experienced with FTX. Additionally, big brand businesses like Starbucks will be entering the space, as well as banks.

Melinek also noted that trust needs to be rebuilt in the crypto ecosystem in order for it to get its mojo back. She stated that regulators need to step in and create a framework instead of using old-school techniques that are used with traditional markets.

In conclusion, the future of the crypto market in 2023 will depend on the amount of trust that can be restored in the ecosystem. Despite the turbulence of the sector in 2022, VC funds, banks and big brands will still be investing in the crypto space, with or without the retail investors. It is now up to the regulators to create a framework to help rebuild trust in the crypto market and ensure its long-term success.

Next