Litecoin

Bitcoin

Million

Epic

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
According to crypto asset manager <a href="https://blog.coinshares.com/volume-143-digital-asset-fund-flows-weekly-report-6d46f78754c" rel="noopener noreferrer nofollow">CoinShares</a>, Bitcoin (BTC) investment products suffered massive outflows in the prior week as investors instead favored funds centered on alternative cryptocurrencies, or altcoins, such as XRP, Litecoin and Solana. 
CoinShares noted that digital asset investment products saw outflows of $107 million in the past week as profit-taking gathered pace. 
<blockquote class="twitter-tweet"> 
 Digital asset investment products saw outflows this week, totalling US$107m with profit taking gathering pace in recent weeks. Bitcoin was again the primary focus, seeing outflows totalling US$111m, the largest weekly outflows since March. <a href="https://t.co/U9xyQuBLsR" rel="noopener noreferrer nofollow">https://t.co/U9xyQuBLsR</a>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1688495277467156482?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 7, 2023</a> 
</blockquote> 
Bitcoin was once again the center of attention as it experienced its largest weekly outflows in months. Bitcoin witnessed outflows of $111 million, its largest weekly outflows since March. 
Ethereum likewise saw $6 million in outflows, bringing total outflows of both Bitcoin and Ethereum to $117 million in the past week. 
The Bitcoin exodus comes as investors appear to have run out of favorable news to bet on following earlier key price triggers. 
In contrast, <a href="https://u.today/xrp-litecoin-bitcoin-and-other-cryptocurrencies-to-be-accepted-at-britains-first-crypto-cafe" rel="noopener noreferrer nofollow">XRP and Litecoin</a> saw inflows as altcoin sentiment appears to be getting warmer, trying to offset outflows from Bitcoin and Ethereum. 
Inflows to XRP and Litecoin total nearly $1 million, accounting for $0.5 million and $0.46 million, respectively. The landmark July 13 ruling, which determined that XRP traded on exchanges is not a security, substantially improved investor confidence in altcoins, as evidenced by sustained inflows in recent weeks. 
<h2 id="litecoin-saw-demand-in-halving-week">Litecoin saw demand in "halving" week</h2> 
In the past week, precisely on Aug. 2, the Litecoin blockchain had its third halving event at block 2,520,000, with mining rewards now halved to 6.25 LTC per block. 
Notwithstanding the lull in price action, Litecoin has retained positive network fundamentals. According to a recent Twitter post,<a href="https://twitter.com/litecoin/status/1688207330188693504" rel="noopener noreferrer nofollow"> Litecoin's hashrate</a> is on the verge of breaking a new all-time high. With a current difficulty of 933.2 TH/s, Litecoin is nearing a new record. 
The sentiment of the mining community is reflected by two indicators: hashrate and difficulty. A rise in hashrate could indicate that more miners are entering the LTC community.

XRP and Litecoin (LTC) See Epic $1 Million Inflows Amid Bitcoin Exodus

Tabla de contenidos

U_Today

Otros artículos publicados el 7 ago 2023

Tether’s Bold Step into Bitcoin Mining and Lawsuit Dismissal, A Double Win for the Ecosystem

How NFTScan API Empowers SocialFi Development with NFT Data

Aave Community Unanimously Supports CRV Borrowing Prohibition

Cardano DeFi Rapidly Shrinking, Borroe Set for Stage 1 of Presale: Time to Buy?

Kenyan police reportedly seize Worldcoin machines in warehouse raid

eTukTuk’ – Powering the Future of Transportation – Sets an Example for Blockchain Mainstream Adop...

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!