Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

Veröffentlicht am

Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive

  • Bitcoin spot ETFs recorded $151M outflows on November 24.
  • Ethereum’s products saw inflows of $96.67 million.
  • Solana ETFs continue their winning streak with yesterday’s $57 million.

The cryptocurrency sector remains weak as bearish sentiments prevail.

Indeed, recent price drops, muted trading activities, and worries about short-term recoveries have seen many investors adopt a defensive bias.

Exchange-traded funds flow data reflects this uncertainty, with Bitcoin recording massive withdrawals as altcoin products hold steady. Let us find out more.

Bitcoin ETFs continue to struggle – Fidelity’s stands out

BTC spot ETFs had a rough session on Monday, with net outflows totaling $151 million, according to SoSoValue.

That signals deteriorated interest in these financial products, which have played a key role in institutional crypto adoption.

Meanwhile, Fidelity’s FBTC stood out as it posted positive ETF flows of $15.49 million on Monday amidst the broader retreat.

On the other hand, BlackRock has struggled lately, with iShares’ outflows surpassing $2.2 billion so far in November.

Meanwhile, the mixed ETF outflows come as the Bitcoin price experiences notable downward pressure.

The bellwether crypto is trading at $88,190, down from late last month’s high above $115,500.

Ethereum posts inflows

While investors remain more conservative about Bitcoin, Ethereum thrived.

Data shows Ether ETFs attracted $96.67 million in inflows yesterday, with BlackRock’s ETHA dominating at $92.61 million.

Ethereum seems to thrive as Bitcoin struggles, as narratives like the latest attacks on Strategy by JPMorgan magnified uncertainty in BTC-based financial products.

Institutions are seemingly migrating to Ethereum, possibly indicating renewed trust in its unique role in powering scaling solutions, decentralized apps (dApps), and support for new infrastructure.

ETH is changing hands at $2,925 after gaining 3% the past 24 hours. It lost more than 2% the past week.

Solana ETFs maintain upside momentum

Solana held its ground, attracting net inflows of $57.99 million on November 24.

The altcoin has seen positive ETF flows since its debut, highlighting steady institutional demand.

For instance, Bitwise’s Solana spot exchange-traded fund surpassed $500 million AUM last week.

Solana experienced amplified institutional interest due to its robust network that prioritizes scalability, speed, and security.

The team spent the past years rewriting Solana’s reputation, darkened by previous network outages.

Now, the blockchain exhibits a thriving developer community, booming app usage, and Solana-based tokens.

With these factors, Solana has carved a unique lane in the blockchain industry.

SOL is trading at $138 after soaring 5% in the last 24 hours.

The altcoin lost nearly 30% of its value over the past month.

Meanwhile, Solana inflow confirms investors looking beyond price performance while prioritizing long-term potential.

Meanwhile, the latest ETF flow statistics highlight a split market.

Investors are now exploring crypto offerings beyond Bitcoin.

Institutional investors are no longer treating all cryptocurrencies the same.

They’re now evaluating every project based on solid catalysts, narratives, and momentum.

The post Crypto ETF flows: BTC sees $151M outflows as ETH and SOL funds thrive appeared first on CoinJournal.

Veröffentlicht am

Aerodrome Finance locks 609K AERO tokens in strategic buyback

  • The project confirmed acquiring and locking 609,000 tokens today.
  • Its total buyback for November surpasses 3 million AERO.
  • The altcoin’s performance mirrors broader market downsides.

While uncertainty engulfed the overall crypto landscape, Aerodrome Finance has showcased its dedication to supporting and strengthening its native AERO.

The project has taken it to X to announce a significant buyback of 609,000 AERO tokens.

Meanwhile, this repurchase is part of Aerodrome’s programmatic strategy to react to fluctuating market conditions without compromising the altcoin’s tokenomics.

Aerodrome has completed buybacks of more than 3 million AERO this month, reflecting the team’s commitment to boosting investor confidence and token stability. The official X post read:

The Aerodrome Public Goods Fund has acquired and locked 609K AERO as part of its programmatic market-aware buyback, bringing total buybacks this month to 3M+.

Notably, the project’s Public Goods Fund oversees AERO’s buybacks and has been monitoring the alt’s performance while strategically accumulating and locking native assets to reduce supply and potentially boost demand.

Such an approach remains crucial to stabilize price actions and ensure investor confidence as digital assets see increased fluctuations.

Inside Aerodrome’s buybacks, so far

The latest purchase brings total buybacks for November to over 3 million AERO coins, reflecting a significant step toward strengthening the asset’s market status.

Moreover, the Public Goods Fund has accumulated and locked over 150 million tokens since its debut, leveraging initiatives like Relay programs, Flight School, and the PGF itself.

These programs aim to reduce supply pressure on AERO while rewarding loyal holders.

The predictable supply reduction guarantees a resilient ecosystem even during heightened volatility.

Market players often interpret such buybacks as an indicator of the team’s confidence in the project.

Aerodrome hits fresh volume milestone

The project followed the buyback announcement with another post reflecting impressive user activity.

Notably, Aerodrome has topped $200 billion in trading volume this year – an approximately three-times increase year-to-date.

Such a volume demonstrates Aerodrome’s rapid growth and increasing influence in the blockchain sector.

With strategic buybacks and ecosystem initiatives, Aerodrome is establishing itself as a serious player within the DeFi space.

Understanding Aerodrome Finance

Aerodrome Finance is a decentralized exchange and automated market maker (AMM) that serves as the primary liquidity on Coinbase’s Base project.

It facilitates streamlined token swaps by ensuring adequate liquidity.

AERO price outlook

Native AERO saw a brief rebound following the latest updates.

The cryptocurrency is trading at $0.7070, with a slight 1.47% uptick on the daily chart.

The surging trading volume reflects revived interest in the AMM.

Nevertheless, AERO has underperformed in recent sessions as sellers dominated the crypto landscape.

It lost nearly 25% of its value in the last 30 days.

The post Aerodrome Finance locks 609K AERO tokens in strategic buyback appeared first on CoinJournal.

Veröffentlicht am

RAIN price skyrockets 110% as Enlivex announces $212M Rain token treasury

  • The biopharma company plans to launch the first-ever crypto treasury around the Rain project.
  • Enlivex sees long-term potential in Rain’s open-prediction market.
  • Native RAI rallied after the news, up 110% within minutes.

The cryptocurrency market remained relatively stable on Monday, with Bitcoin holding above $86,000.

While most assets saw minor price actions, RAIN has decoupled with a sharp uptrend.

The altcoin has gained roughly 110% minutes after news that biopharmaceutical firm Enlivex Therapeutics plans to build a $212 million Rain-based crypto treasury.

Reports suggest that the Nasdaq-listed company will complete the fundraise through PIPE (a private investment in public equity).

Notably, Enlivex will become the first institution to create a DAT (digital asset treasury) linked to a prediction-market crypto project.

The proposed raise involves Enlivex selling 212 million shares at $1 per share, with settlement in USDT and US dollars.

Meanwhile, the deal is expected to close by November 25, depending on final authorisations.

For a firm that focuses on immunotherapy research, dedicating millions to crypto reflects a bold move into the blockchain infrastructure.

Furthermore, the move adds credibility to RAIN as a legitimate token with serious value in the financial world.

The update flipped sentiments around the RAIN coin, catalysing a sharp rise minutes after the news surfaced.

Why the bold bet on Rain?

Talking with The Block, Enlivex board chairman Shai Novik highlighted Rain’s infrastructure as the scalable backbone that their firm has been pursuing.

He equalled Rain’s dominance in prediction markets to Uniswap in decentralised trading. Novik said:

For us, that open-architecture model represents the scalable growth engine we were looking for. We view Rain as the foundational infrastructure layer for the industry, similar to how Uniswap underpins decentralized trading.

That means Enlivex is more than just purchasing RAIN.

The biopharma is investing in a decentralized prediction-market model poised to transform on-chain information marketplaces.

A unique approach to reduce volatility

Indeed, cryptocurrency and volatility go hand in hand, and that has repelled many institutional players from interacting with digital tokens.

In that context, the Rain Foundation will back Enlivex’s DAT launch with a grant that adjusts the firm’s entry price, with 0.95 as the initial mNAV (modified net asset value).

That reduced early-stage volatility as the biopharma will have a stabilised baseline to start its DAT strategy.

RAIN price outlook

Rain’s native token led the gainers today.

The coin is trading at $0.007526 after a 110% uptick on its daily price chart.

The 66% surge in 24-hour trading volume indicates renewed appetite in RAIN.

While the alt eyes further uptrend, it can hardly decouple for long due to the prevailing broader selling pressure.

Therefore, RAIN remains prone to erasing part of its gains in the near term.

The post RAIN price skyrockets 110% as Enlivex announces $212M Rain token treasury appeared first on CoinJournal.

Veröffentlicht am

GHOST price outlook ahead of privacy layer GhostPay launch

  • The altcoin braces for a recovery as it awaits a key catalyst this week.
  • The first anonymous payment layer on Solana GhostPay launches on November 26.
  • The debut could catalyze potential GHOST price recovery.

The countdown to GhostPay’s rollout started after the team confirmed this week’s debut in an X post.

With the first privacy payment layers launching on Solana soon, traders’ attention has shifted to GHOST’s price performance, especially as the community braces for partnership and new utility announcements.

The official announcement read:

“GhostPay officially arrives November 26. The first anonymous payment layer of Solana goes live. We’ll reveal new partners and use cases leading up to launch.

Notably, the rollout will mark the arrival of Solana’s first native privacy-focused payment layers, a breakthrough that might transform how anonymous transactions move on-chain.

Most importantly, the team promised new collaboration and more use cases ahead of the launch.

Traders are closely watching for these updates as they could trigger bounce-backs for native GHOST.

The altcoin was among the top-performing cryptos in October, gaining over 100% for the month.

Indeed, projects offering privacy features have seen an increase in demand in recent months, with projects like Zcash outperforming gloomy broader markets.

GHOST’s utility will expand rapidly if GhostPay secures strategic partnerships with DeFi protocols, cross-chain bridges, payment processors, or digital wallets.

Notably, markets tend to reprice real-world use cases quicker, and that positions GHOST for remarkable recoveries amidst GhostPay’s potential success.

Commenting on the upcoming launch, self-proclaimed crypto multi-millionaire Gordon posted on X:

Privacy on Solana is getting loud, GhostPay is about to unlock real utility, and holders receive 100% of the fees. The flywheel is already spinning.

GHOST price outlook

The alt changed hands at $0.059 after an over 2% dip in the last 24 hours.

GHOST shed more than 5% of its value the previous week due to broader market turmoil and profit taking after its impressive October performance.

Meanwhile, the token is attempting a recovery after hitting the support around $0.0058.

GHOST has tested this zone several times, making it crucial for a possible bounce-back.

Amplified bullish actions (if GhostPay drives substantial optimism) could see the alt surging towards the obstacle at $0.0089.

That would translate to a roughly 33% uptick from Ghost’s current market price.

Broader sentiment shifts could see GHOST continue its rally to the obstacle at $0.012 and extend to $0.15.

Meanwhile, intensified selling pressure in the overall cryptocurrency market could mean subdued price actions for GHOST.

Failure to hold above $0.0058 might catalyze downtrends toward the support zone at $0.0045.

The post GHOST price outlook ahead of privacy layer GhostPay launch appeared first on CoinJournal.

Veröffentlicht am

OKB price dips 20% as OKB Boost contract glitch drains entire reward pool

  • The malfunction allowed 32 wallets to claim 623M PYBOBO within 4 seconds.
  • The event emptied nearly all the 625M reward pool almost instantly.
  • The glitch coincides with OKB’s price underperformance.

The virtual currency sector recorded another sell-off on Friday as Bitcoin lost 10% in the past 24 hours to press time’s $81,865.

The global crypto market cap stands at $2.81 trillion after a 10% decline over the last day.

Amidst the broader bloodbath, OKX’s native token suffered the most as the downside coincided with OKX facing new scrutiny after an unexpected contract glitch in its recent Boost reward campaign.

A planned distribution of PYBOBO coins ended up with nearly all the pool drained within four minutes, and it wasn’t the massive demand as earlier thought.

OKX’s token underperformed the overall cryptocurrency market in the past 24 hours.

It dipped from $115 to $94 during this writing, and over 18% dip on its daily price chart.

OKB experienced intensified selling pressure as the news of contract malfunctioning spread.

A 4-second glitch empties 99.68% of incentives

On-chain stats show that 32 addresses claimed 623 million PYBOBO coins, wiping nearly all the 625 million allocated for the distribution event.

The most striking thing is that the entire sweep took only four seconds, catching the team and participants unaware.

Notably, a multifunction within the OKX Boost claim contract seems to have permitted abnormal, rapid claims, allowing a few addresses to receive far more PYBOBO tokens than initially planned.

OKLink identified a particular wallet that claimed 37.847 million tokens, worth roughly $18,600.

Nevertheless, what’s striking is how fast the pool evaporated, with 99.68% of rewards gone by the time the ream noticed the glitch.

The event’s nature indicates an unintended move that propelled distributions well beyond their specified limits.

OKX Wallets halts claiming amid investigations

The team acknowledged the issue immediately after the reports emerged and confirmed delaying PYBOBO claiming until after resolving the contract issuer.

The temporary pause aims to prevent further potential damage as the project conducts a review.

The team has promised to publish more updates as they investigate the matter.

The incident sent ripples across the OKX ecosystem. OKB testified to that with its overwhelming selling pressure.

OKB price outlook

OKX’s token  hit a daily low of $94 after losing the $100 psychological mark.

It has dropped from a daily high of $115, losing over 18% of its value in the past 24 hours.

OKB has seen its daily trading volume surge 100%, signaling increased speculative activity.

The digital coin would likely slump further before regaining a dependable footing as sellers thrive in the current financial landscape.

The post OKB price dips 20% as OKB Boost contract glitch drains entire reward pool appeared first on CoinJournal.