By Shikha Singh
Bitcoin ETF Volumes Hit Multi-Month High, Ethereum Sets New Inflow Record.
Bitcoin and Ethereum ETFs have experienced significant growth, with Bitcoin ETFs hitting a multi-month high of $7.22 billion in trading volume on November 11, driven by optimism following the U.S. elections.
BlackRock’s iShares Bitcoin Trust (IBIT) led the surge, contributing $4.6 billion.
Ethereum ETFs also saw record inflows, surpassing $295 million for the week ending November 10, with BlackRock’s Ethereum Trust (ETHA) and Fidelity’s FETH drawing substantial new capital.
This surge in ETF activity reflects growing institutional interest in cryptocurrency, signaling a broader adoption of Bitcoin and Ethereum as mainstream assets.
However, experts caution that high trading volumes may indicate both buying and selling, and it will take time to assess the sustained trend.
Crypto Shorters Bleed Heavy Amid “Extreme Greed” Sentiments.
Bitcoin’s recent surge has led to heavy losses for short traders, with the cryptocurrency breaking past $89,000 and continuing toward $90,000. The global crypto market cap rose by 9.6% to reach $3 trillion, with Bitcoin dominance approaching 59%. In the last 24 hours, over $700 million worth of liquidations occurred, with $431 million (62%) coming from short positions, as traders anticipated a market correction. Bitcoin’s price has risen 43% in the last month, with a 24-hour trading volume up 80%.
Germany’s Deutsche Telekom Enters Blockchain With NEAR Validator Role.
Deutsche Telekom AG has entered the blockchain space by joining the NEAR Protocol as an Enterprise Node Operator, strengthening NEAR’s decentralization and enhancing network security. This partnership aligns with the telecom giant’s broader Web3 strategy, focusing on data sovereignty and decentralization. Deutsche Telekom’s role as a validator underscores its growing interest in blockchain, decentralized finance (DeFi), and Web3 technologies.
Worldcoin (WLD) Rockets Over 50% as Global Expansion Spurs Momentum.
Worldcoin (WLD) has surged over 50% in the past week, driven by both a broader market rally and the project’s aggressive global expansion. This month alone, Worldcoin launched in over 40 countries, including Costa Rica, Poland, and Austria, increasing demand for its WLD token. As a result, WLD’s price spiked 27% in the last 24 hours, reaching $2.73, a level last seen in July.
Hyundai Card Embraces NFT Ticketing For Events.
Hyundai Card, a South Korean credit card company, has partnered with blockchain firm Modern Lion to join Near Protocol, a Layer 1 blockchain platform. The collaboration aims to enhance Web3 integration in concert culture and combat ticket scalping through NFT-based ticketing via Modern Lion’s platform, Konkrit. The partnership follows previous successful projects, such as the Hyundai Card Curated 92 and the DaVinci Moteli experience.
Chinese Microchip Company Says It’s Now Accepting Bitcoin As Payment.
Nano Labs, a China-based crypto mining chip designer, saw its Nasdaq-listed shares rise 2.81% after announcing it will accept Bitcoin as payment via Coinbase. The move aims to enhance payment flexibility as demand for digital currency transactions grows, though the company didn’t specify if it will hold Bitcoin on its balance sheet. Despite the uptick, Nano Labs’ stock has fallen over 60% in the past month. This decision reflects broader crypto adoption, joining companies like Microsoft and McDonald’s in accepting crypto payments. The announcement also coincides with a more relaxed regulatory stance on crypto in China.
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