Latest news with #Grayscale
Yahoo
9 hours ago
- Business
- Yahoo
Ether ETFs Post Record $726M Daily Inflow as Analysts Signal ‘Deep Demand Shift'
Ether (ETH) exchange traded funds (ETFs) just had their best day ever. The U.S.-listed funds attracted a record $726.74 million in daily net inflows on Wednesday, while ETH prices surged 8.1% to cross $3,560 — the token's best single-day performance since March. That resulted in cumulative ETF inflows of $6.48 billion with total net assets now exceeding $16.41 billion, or 4% of ETH's circulating market capitalization. BlackRock's ETHA led the charge with nearly $500 million in new inflows and over $1.78 billion in trading volume, followed by Fidelity's FETH and Grayscale's newly launched ETH, which added a combined $167 million. But beyond the headline numbers, something deeper may be unfolding. JLabs Digital's Ben Lilly said in a Wednesday insight that a new wave of Digital Asset Treasuries (DATs) — funds and corporates accumulating ETH for yield, collateral, or payments — is changing the token's demand profile. 'We're seeing $100s of millions in ETH demand that simply didn't exist before,' Lilly wrote, pointing to a dynamic similar to PayPal's early crypto push. 'This isn't just inflow-driven price action. It's a structural shift in how ETH is being held.' Add to that a historically strong Moneyness Ratio — a metric capturing the share of ETH locked in productive use — and the market gets a flywheel few other tokens can replicate. ETH network demand still clocks in at around $2 million per day, but analysts suggest it could triple as more applications and treasuries integrate the token. 'Higher from here. Bid on,' Lilly added. ETH is now up 22% month-to-date, and if the demand curve continues to steepen, we may still be far from reaching the peak of this move.
Yahoo
3 days ago
- Business
- Yahoo
XRP Nears Record High of $3.40 as Futures Open Interest Hits $10B
XRP extended its breakout rally on Wednesday, briefly touching $3.30 in Asian hours as bullish sentiment surged across futures markets. The token is now trading less than 4% below its all-time high of $3.40 set in 2018. Futures open interest jumped to $9.98 billion across major exchanges — up 26% in the past 24 hours — marking the highest level since 2021. Funding rates remain elevated, suggesting that traders are aggressively taking long positions, even as prices overheat on lower timeframes. Open interest refers to the number of unsettled futures bets. Rising prices alongside rising interest often signals bullish sentiment and expectations of a further rally. On-chain data from WhaleTrace shows over 2.2 billion XRP has been accumulated by large holders in the past two weeks. Some of that activity coincides with news that leveraged ETFs are going live in the U.S., with Grayscale also confirming the inclusion of XRP in its Digital Large Cap Fund. Per CoinDesk Analytics, traders are now eyeing the $3.50–$3.84 band as the next resistance zone, with technical indicators flashing overbought conditions. RSI on the 4-hour chart has remained above 80 since Tuesday, typically a sign of short-term exhaustion, but volume-backed breakouts are still holding.
Yahoo
4 days ago
- Business
- Yahoo
BONK Soars Over 15% as Memecoin Momentum Lifts Broader Crypto Market
BONK surged 18.2% over the past day, breaking decisively through multiple resistance levels to settle at $0.00003343 - its highest price in months. The rally comes amid renewed optimism in crypto markets, with altcoins leading a charge that saw total market capitalization edge higher on the back of rising open interest and technical momentum. From July 15 at 11:00 UTC through July 16 at 10:00 UTC, BONK appreciated by 15.08%, climbing from $0.00002824 to $0.00003253 before peaking at $0.00003309. The Solana-based memecoin posted a sequence of higher highs and higher lows, punching through resistance at $0.000030000 and $0.000032000 as traders rotated into high-volatility assets, according to CoinDesk Research's technical analysis data model. The move coincided with BONK's inclusion on Grayscale's institutional surveillance list, a milestone that further legitimizes the memecoin in the eyes of broader market participants. Technically, BONK's momentum remained strong even during volatile periods. In the final hour of the session, the token pulled back to $0.00003225 at 09:45 UTC before bouncing sharply on volume spikes exceeding 134 billion tokens, lifting it to $0.000033034. New short-term support has formed at $0.00003295. With sentiment improving across the altcoin landscape and BONK showing both volume and price leadership, the token now appears poised to challenge the $0.000035000 level - a psychological barrier that could open room for further upside if the broader rally continues. Technical Analysis Highlights BONK gained 15.08% in 24 hours, moving from $0.00002824 to $0.00003253. Full trading range spanned 18.93%, with a high of $0.00003309. Resistance at $0.000030000 and $0.000032000 was cleanly broken. Immediate resistance now at $0.000033000; next upside target sits at $0.000035000. Solid support emerged at $0.000028500 and more recently at $0.000032950. Volume surged above 134B tokens during final-hour recovery and breakout. BONK rebounded 2.4% from intraday low of $0.00003225. Current price: $0.00003343, leading Solana ecosystem tokens in daily gains. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
5 days ago
- Business
- Globe and Mail
Bitcoin ETF (GBTC) Hits New 52-Week High
For investors seeking momentum, Grayscale Bitcoin Trust ETF GBTC is probably on the radar. The fund just hit a 52-week high and soared 135.2% from its 52-week low of $39.56 per share. Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed: GBTC in Focus Grayscale Bitcoin Trust is the first Bitcoin ETF that enables investors to gain exposure to Bitcoin in the form of a security, while avoiding the challenges of buying, storing and safekeeping it directly. It owns and passively holds actual Bitcoins through its Custodian, Coinbase Custody. Grayscale Bitcoin Trust is a cheaper version of Bitcoin, charging 1.50% in annual fees from investors (see: all the Cryptocurrency ETFs here). Why the Move? Bitcoin has been an area to watch lately, given the meteoric rise in the world's largest cryptocurrency. Bitcoin has soared to a new all-time high, surpassing $120,000 for the first time in its history. The explosive rally was driven by renewed institutional demand, robust spot Bitcoin ETF inflows and growing optimism surrounding global crypto adoption. The rally also reflects broader investor appetite for alternative assets amid a shifting macroeconomic landscape. More Gains Ahead? GBTC might remain strong, given its weighted alpha of 87.60 and lower 20-day volatility of 33.6%. There is still some promise for investors who want to ride on this surging ETF. Want key ETF info delivered straight to your inbox? Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research (
Yahoo
5 days ago
- Business
- Yahoo
Institutional Demand Fuels BONK Breakout Amid Burn Plan, Holder Surge
BONK saw a 15% breakout, driven by a jump in trading activity and rising on-chain traction. With open interest increasing 9% and derivatives volume also higher, market participants are signaling increased conviction in the Solana-based meme token's upside potential, according to CoinDesk Research's technical analysis data model. Much of the excitement stems from BONK's evolving fundamentals. The project recently announced plans to burn 1 trillion tokens, a move that could significantly reduce supply and strengthen the case for long-term appreciation. The community is pushing aggressively toward reaching 1 million on-chain holders, a symbolic milestone for adoption, which will also trigger the aforementioned burn. The momentum kicked off on July 14 at 13:00 UTC, with BONK rising steadily from $0.000027 and peaking at $0.000031 by 07:00 on July 15. That rally was accompanied by massive activity — over 3.5 trillion tokens were traded during the peak hour, marking a period of institutional-grade breakout volume. Grayscale's inclusion of BONK on its asset watchlist further signaled a shift in perception, as meme tokens evolve from speculative plays to legitimate vehicles for market participation. With deflationary mechanics, deepening liquidity, and growing institutional validation, BONK may be primed for further momentum in the days ahead. BONK rallied 15% to $0.000031 (July 14 13:00–July 15 12:00 UTC). Trading volume topped 3.5 trillion tokens during the 06:00–07:00 UTC breakout phase. Open interest surged 9%, while derivatives activity spiked sharply. A planned 1 trillion BONK token burn introduces a deflationary catalyst. Price consolidated at $0.000028 following the rally; support held at $0.000026 BONK spiked 2% in minutes at 12:30 UTC on 75 billion tokens exchanged. Current price: $0.0000294, with daily gains of 7.8% and bullish structure intact. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
