It’s been an eventful week, with the global markets reacting to some seismic shifts in the AI space while crypto held its ground in parts but faltered in others. Let’s break it down.
The crypto market logged its fourth week of growth, with the total crypto market cap up 3.46% to US$3.39 trillion, driven by investor confidence, liquidity, and capital inflows.
In the last trading week, the cryptocurrency market saw significant gains, driven by positive sentiment and key developments across various coins.
Ondo (ONDO) is coming to BTC Markets. Crypto leads 2024's biggest ETF launches. Ripple expands XRP Ledger with Ethereum-compatible smart contracts. Australia's GDP growth slowed, with manufacturing contracting while services rebounded.
Bitcoin ETFs see US$250m inflows following Fed rate cut hints, while Hong Kong Bitcoin ETFs surpass US$256m AUM. ETH ETFs face mixed results with Grayscale outflows, despite strong inflows.
Spot Bitcoin ETFs record positive flows in 8 of the last 10 days. Meanwhile, Mt. Gox executes a $700 million Bitcoin transaction, the first major move in three weeks. Bitcoin mining costs surge by 168% amid capacity expansion.