Last Week, Cryptocurrencies Had Net Inflows But Outflows On Friday – Coin Shares

  • Last week, cryptocurrencies had net inflows but outflows on Friday. According to figures released on Monday by digital asset management, Coin Shares, cryptocurrency products, and ETFs attracted $184 million in net inflows last week.

However, according to Coin Shares, Friday’s price decline resulted in $40 million in withdrawals. Total inflows for the year totaled $9.1 billion, slightly less than the record high of $9.5 billion set two weeks ago.

Meanwhile, Bitcoin received $145 million in net inflows for the 12th week in a row. It did suffer $42 million in withdrawals on Friday, as it took the brunt of investor worries as stock prices plummeted.

Traders believed the weekend price reduction was attributable to a widespread move away from riskier assets in conventional markets owing to fears about the Omicron coronavirus strain. As per Coin Glass, a few retail-focused exchanges completed more than $2 billion in long Bitcoin bets on Saturday.

“The cryptocurrency markets have been highly volatile in recent months. Bitcoin appears to be affected by the Omicron variation and pressure on the TradFi (conventional finance) markets. “Cryptohopper’s automated trading bot, Crypto hopper, is led by Ruud Feltkamp, the company’s CEO.

“In contrast, during the bull market of 2017, there were multiple collapses, with some losing up to 38% of their value. The more hesitant you are to enter, the better. It’s also an excellent time to walk out if you’re feeling overconfident.”

Bitcoin was recently trading at $49,093, down 0.8 percent. Bitcoin has dropped 32% since hitting a record high of $69,000 on Nov. 19. According to Coin Shares, Bitcoin volume increased to $15 billion on Friday, compared to an average of $8 billion each day in November and December.

Ethereum received $25 million in inflows on Friday but had slight outflows of $4.7 million, similar to Bitcoin. Last week, Polkadot, the coin that allows multiple blockchains to interact, experienced $3 million in withdrawals, with the majority of those outflows occurring in the second part of the week.

The majority of NFT profits go to a small group of OpenSea users.

Approximately 5% of OpenSea customers are collecting the most of earnings from secondary transactions done on the NFT platform, according to Chainalysis, a blockchain analytics firm.

The study also pays to be a safelist NFT minter since they make enormous gains in the burgeoning, no fungible token market. In contrast, most other traders lose money in most transactions.

According to Chainalysis’ NFT Market Report for 2021, a small number of users account for 80% of profitable transactions. On OpenSea, multiple subsequent sales were lucrative. “On OpenSea, 20% of user locations account for 80% of secondary NFT purchases, whereas just 5% of all domains account for 80% of the money generated from secondary sales,” the authors said.

The survey also discovered that the NFT market is still thriving. Eighty-one percent of NFT transactions were priced at less than $10,000 at the end of October, down from 94 percent at the beginning of March. About 500 NFT transactions for $100K or more are completed each week.

As per Chainalysis, the data excludes “NFTs that were minted, acquired, but never traded.” As per Chainalysis, eight out of ten subsequent sales are 250 NFT collections. Allowlisted NFT minters, with exclusive access to assets, benefited from three-fourths of OpenSea transactions. According to Chainalysis, with much more than half of the trades garnering 100% profits, Non-whitelisted NFT mints, on the other hand, saw their transactions drop by 71.5 percent on the platform.

“The evidence is clear: Allowlisting delivers a considerable financial return for individuals who contribute to the success of an NFT project by supporting its early community growth activities,” Chainalysis noted.

As per Chainalysis, users donated at least $26.9 billion in digital currencies to ERC-721 and ERC-1155 contracts, “the two types of Ethereum smart contracts connected to NFT markets and collections,” between January and October of next year.

OpenSea, the leading NFT marketplace, collected $16 billion over the month, with over 6,000 collections attracting at least one transaction involving minting or trading. Over the same period, CryptoPunks NFTs generated $3 billion in volume.

Between March and late October, the number of regular active NFT collectors on OpenSea rose from 250 to 2,300. The analysis stated that “flipping NFTs with a past sales history [had] a substantially greater success rate than reselling NFTs purchased during minting.”

From January through October, Chainalysis looked at the regional origins of traffic to NFT markets, finding that activity in North America and Central and Southern Asia is pretty on par after differing dramatically earlier in the year.

Ignoring the fact that both regions contributed for a quarter of Nodulation platform traffic as of October, North Americans represented more than 45 % of consumers at the beginning of each year, instead of just 10% from Central and Southern Asia.

However, Asian traffic increased in the second quarter, with the region accounting for 35% of total traffic in June, compared to 21% in North America. Midway through the year, Latin American visits increased to 18% from 9% before gradually declining midway through the year.

European visitors’ percentage of worldwide NFT traffic fell in the middle of the year before recovering somewhat in the third quarter.

According to Chainalysis, the data indicates that “NFTs have attained worldwide popularity,” with no area accounting for more than 40% of marketplace traffic since March 2021.

GLOBAL MARKETS-Bulls reclaim the lead as Omicron’s fears fade.

On Tuesday, fading Omicron variant fears and a timely infusion of Chinese stimulus buoyed global stock markets and oil, prompting traders to unload safe-haven currencies and bonds once more.

Since February, the FTSEurofirst index in Europe was on course for its first back-to-back advances. Wall Street was set to rise as Asia celebrated historic gains by some of China’s battered IT behemoths.

The dollar gained momentum against the Japanese yen, which had weakened 0.6 percent overnight, as well as the self-belief Australian dollar, thanks to the risk-on environment.

Safe-harbor German government bonds moved in the other direction, with rates rising 2.5 basis points after plunging to a three-month low on Monday.

Although Britain’s prime minister warned that Omicron appeared to be the most contagious coronavirus variant yet, reports from South Africa said cases had only shown mild symptoms. And Anthony Fauci, the top US infectious disease official, told CNN that “it does not appear to be a great degree of severity” so far.

“you should take the good news about Omicron’s severity with a grain of salt. Faster transmission may negate the advantages of lesser symptoms, “In a note, ING researchers wrote. “More broadly, even if markets are showing signs of Omicron fatigue, it is still early days.”

The increases occurred after China’s central bank lowered the number of cash banks must maintain in reserve on Monday, injecting its second round of support since July.

As Evergrande teetered on the verge of default, there was still uncertainty in the property industry, but statistics indicating significantly more significant import growth was “a good indicator on the strength of domestic demand,” according to RBC analyst Adam Cole.

After hitting a record low, Alibaba’s stock soared 12.2 percent, while Tencent and Meituan gained 3.6 percent and 5.8 percent, respectively. As markets waited to learn if Evergrande had paid an already-overdue $82.5 million bond payment or formally slid into default, shares in the troubled developer dipped below a record low.

Australia’s S&P/ASX200 gained over 1% in other markets as the central bank kept interest rates at a record low of 0.1 percent, while Japan’s Nikkei gained 1.9 percent as the yen fell back.

“We’ve seen the Fed’s hawkish shift and Omicron striking the market with both barrels recently, but we’ve seen some dribbles of better news on Omicron this week,” said John Hardy, head of FX strategy at Saxo Bank.

“The yen has snapped back lower, and commodity currencies have gone higher… for the time being, it’s simply a snapback rather than a trend,” he added, cautioning that it was too early to draw any conclusions about Omicron.

The dollar rose in FX markets on expectations that the Federal Reserve will reduce its bond-buying program more quickly next week due to a more robust labor market. Concerns over Omicron’s influence on global fuel consumption faded as oil prices gained another 2% to $74.60 per barrel, extending a nearly 5% increase the day before.

The rouble declined 0.3 percent as investors worried that a further crisis in Ukraine would result in the US and Europe imposing harsh penalties on Russia’s financial system and the Nord Stream 2 gas project.

At 1500 GMT, US President Joe Biden and Russian President Vladimir Putin will conduct a video conversation. “God only knows what the delta risk on that meeting is, but the US is threatening more harsh penalties,” Saxo’s Hardy said. Adding that the “nuclear option” would exclude Russian banks from using the international bank-to-bank payment system SWIFT.

These three equities have an ‘overweight’ recommendation from Morgan Stanley, with up to 9.8% yields – lock them in before inflation surges higher. These three equities have an ‘overweight’ request from Morgan Stanley, with up to 9.8% yields – lock them in before inflation surges higher.

These three equities have an ‘overweight’ recommendation from Morgan Stanley, with up to 9.8% yields – lock them in before inflation surges higher. Because high-flying growth companies dominate the news, dividend shares are sometimes neglected.

A stable and rising supply of dividends, on either hand, might help risk-averse shareholders sleep better at night in a world of artificially low-interest rates and 31-year rampant inflation. Dividend stocks with an excellent track record can: Provide a consistent stream of income in both good and bad times Diversify portfolios with a focus on growth, which is in severe need of it. Over time, outperformed the S&P 500.

Dividends aren’t precisely recognized for being high in tech stocks. However, companies with sizeable recurring cash flows and strong balance sheets may still pay out considerable cash dividends to shareholders.

Investors received 8 cents per share when the software behemoth began paying quarterly dividends in 2004. Microsoft’s quarterly dividend rate is now 62 cents per share, representing a 675 percent increase in the total payment.

The stock now yields only 0.8 percent in dividends. However, income investors will find Microsoft appealing because of its consistent dividend growth – management has increased the payment for the past 12 years.

Morgan Stanley recently restated its overweight recommendation on Microsoft and boosted its price target to $364, representing nearly a 12% increase over current levels.

P&G easily tops the list. The board approved a 10% increase in the quarterly distribution in April, marking the company’s 65th consecutive annual dividend rise.

P&G is a goods-producing powerhouse with well-known brands including Bounty paper towels, Crest toothpaste, Gillette knifes, and Tide washing detergents; P&G is a goods-producing powerhouse.

In September, Morgan Stanley boosted its price objective on the stock to $161, reflecting an increase of nearly 8% from current levels. The store has a 2.4 percent dividend yield. However, it’s a stock that real yield hunters shouldn’t overlook.  The stock currently selling slightly around $29 corresponds to a 9.8% annual dividend yield.

Morgan Stanley raised its price target on MPLX to $37 last month, marking a 26% gain over the stock’s current price. Investing in the energy industry, for example, may be highly dangerous. Begin with your extra pennies and develop a collection of blue-chip stocks and bonds if you wish to be more cautious. Bear in mind that market downturns may affect even the most conservative colored stocks. Consider buying farmland in the United States if you want passive income without the stock market’s turbulent ups and downs.

People will need to eat regardless of what the S&P 500 performs. Farming has also been discovered to produce better risk-adjusted rates of return than both stocks and real estate.

Through innovative platforms, you may now engage in property in the United States by purchasing a section of a farm of your choice. Lease repayments and crop sales will provide you with funds. Furthermore, any long-term appreciation will be advantageous to you.

Also Read: Saudi Wealth Fund to Sell STCs for Up to $3.1 Billion

Leave a Comment