Apecoin Lost Around $2.5 Billion in Its Market Cap in May as Fear About Fading Investor Appetite Emerges

ApeCoin, one of the fastest rising coins in the crypto space, was one of the cryptocurrencies that was heavily impacted by the crypto disaster that rocked the market in May. Although the coin’s price showed robust performance in these turbulent market conditions, its market cap was affected. The coin now trades at $4.25 with a 4.1% increase in the last seven days, selling below its new swing high of $4.35. Data from Coingecko on Thursday showed that ApeCoin is among the top 50 crypto assets by market capitalization as the…

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XRP Whales Boost Accumulation Appetite, Register 2-Month Peak Holding Supply

The total supply of XRP circulating in the market is now at 48.3 billion from the total XRP supply of 100 billion. XRP whales currently hold from 1 million to 10 million XRPs and are on a massive hoarding spree with an uptick in supply stretching out to a two-month high. These active XRP whales currently chalked up over 6.12% of the total XRP. Despite the collapse of the crypto market, Ripple whales have resurfaced to be increasingly daring and active.   According to Santiment, “XRP Network whales holding between 1M…

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Singaporean investors’ appetite for crypto is key to mainstream adoption — Survey

As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market. Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed a strong affinity for various financial opportunities brought forward by decentralized finance (DeFi) and other investment opportunities. As explained by Raks Sondhi, managing director of Independent Reserve Singapore, the country’s rapid crypto adoption is driven…

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Appetite for Crypto Sector Still Going Strong as Valuations Rise

Cryptocurrency exchange FTX saw its valuation soar to $32 billion in a new funding round announced on January 31, underscoring continued appetite for the sector. The Bahamas-based company raised $400 million in a Series C funding round – its third round in the past nine months for a total of $2 billion in venture capital to date. Of course, this is just one of many financing rounds sending serious cash into the crypto sector. In 2021, funding for blockchain startups increased 8-fold at $25.2 billion and isn’t expected to slow…

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Evrynet’s $7M raise highlights institutional appetite for DeFi

Financial service platform Evrynet has concluded a $7 million fundraiser for its forthcoming decentralized finance app targeting institutional investors, offering further evidence that DeFi has an institutional-grade audience. The private investment round was led by Signum Capital, a Singapore-based blockchain venture fund, with participation from Petrock Capital, Ellipti Ventures and others. Evrynet’s previous backers include HashKey Capital, Everest Ventures, Hanwha Investments and Securities, and Seven Bank, among others. The funds will aid Evrynet in providing institutional-grade DeFi services to investors through its forthcoming Evry.Finance application, which will serve as an…

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Institutions have no appetite for Bitcoin at this price level: JPMorgan

As Bitcoin (BTC) price failed to hold its breath above the $35,000 yesterday, JPMorgan expects an overall bearish movement below the critical price level based on the BTC-to-gold volatility ratio.  In a note sent to investors on Wednesday, JPMorgan detailed its reasoning to see the fair value of Bitcoin between $23,000–$35,000 over the medium term. The banking giant previously pictured a $140,000 roadmap if the biggest cryptocurrency matches gold’s allocation and volatility profile. But that’s off the table for the foreseeable future, according to JPMorgan’s note, which predicts that “full…

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Ether options open interest grows 80-fold amid rising institutional appetite

The massive growth of Ethereum’s futures and options arena is reportedly pointing towards significant institutional involvement in the second-largest cryptocurrency by market capitalization. According to a recent report by crypto investment advisory firm Two Prime Digital Assets, the 80-fold growth in Ether (ETH) options open interest goes beyond mere retail speculation. As part of its report, the firm argued, “Institutional money managers have moved in to start hedging net long portfolios against outsized volatility events.” The same exponential growth can also be seen in the ETH futures market. Indeed, data…

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Is DeFi yield appetite rising again? Enso raises $5M as YFI hits new highs

The appetite for DeFi is rising again as blue chips are rallying and yield-earning strategy-sharing platforms, like Enso, are on the rise. Enso, a platform where users can share yield-earning strategies, raised $5 million on April 13 from top U.S. venture capital firms including Polychain Capital and Multicoin Capital. Synthetix (SNX) founder Kain Warwick, Aave founder Stani Kulechov, Dfinity COO Artia Moghbel, and other prominent angels took part in the round. The high-profile fundraising round comes as Yearn.finance (YFI) achieved a new all-time high above $50,000. Why is the demand for…

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Latest CME Report Reveals Growing Appetite for Bitcoin Amongst Institutions

Bitcoin has been consolidating within the $30,000 region throughout the past few days and weeks Bulls and bears have largely reached an impasse, with buyers and sellers both being unable to spark any trend This comes as large institutional inflows show some signs of tapering, with these buyers largely being viewed as the ones responsible for the recent market-wide surge The latest Commitment of Traders (CoT) report from the CME reveals a striking trend – institutions are increasingly adding to their long exposure This seems to invalidate the notion that…

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Bitcoin Price Breaks $10,000, Supercharged by China’s Soaring Forex Appetite – CCN Markets

Bitcoin price is trading back above $10,000 again. | Source: Shutterstock Bitcoin gained momentum to continue a recent winning streak as the Chinese Yuan dropped to its weakest level in more than a decade. The benchmark cryptoasset accelerated its early morning advance with a 1.14 percent gain, adding up to 12.44 percent since August 30 low of $9,337. The upside move also brought bitcoin’s market capitalization to about $180.90 billion, which covered more than 70 percent of the total cryptocurrency market valuation. Bitcoin on a 5-day winning streak as Yuan…

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