HODL

Bitcoin ETF

Bitcoin

<p><strong>The crypto market witnessed another frenzy this Tuesday, as trading volumes of the VanEck Bitcoin ETF (HODL) surged by more than 2200% in a single day. Propelling HODL to the third most traded ETF behind Grayscale’s GBTC and BlackRock’s IBIT.</strong><em>&nbsp;</em></p>
<h2 id="h-a-massive-influx-of-retail-traders-triggers-a-volume-explosion">A Massive Influx of Retail Traders Triggers a Volume Explosion</h2>
<p>According to data, HODL traded over $400 million in volume on Tuesday, which is 22 times its usual <a href="https://www.cointribune.com/en/bitcoin-etf-daily-volume-exceeds-2-billion/" target="_blank" rel="noopener noreferrer nofollow">average daily volume</a> of $17 million. This sudden surge seems to have been fueled by an army of small retail traders, rather than a large institutional investor.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>While the exact source remains unknown, it seems that a popular crypto influencer might have highlighted HODL to their fan base, thereby triggering a rush to the Bitcoin ETF. This wouldn’t be the first time such a buying frenzy has been set off on social media.</p>
<h2 id="h-vaneck-s-fee-reduction-spurs-trader-interest">VanEck’s Fee Reduction Spurs Trader Interest&nbsp;</h2>
<p>This massive influx of volume comes just before <a href="https://www.vaneck.com/fr/fr/investissements/crypto-etf/" target="_blank" rel="noopener noreferrer nofollow">VanEck</a> is set to reduce its fees on HODL, moving from 0.25% to 0.20% starting this Wednesday. This cost reduction likely enhanced retail traders’ interest in the Bitcoin ETF.</p>
<p>The combination of a viral recommendation and a fee reduction seems to have created the perfect storm to trigger a buying frenzy. Small crypto traders rushed to purchase HODL shares before the reduced fees came into effect.</p>
<p>This surge in volume has propelled Bitcoin ETFs as a whole to their highest daily transaction level since their launch in January.&nbsp;</p>
<h2 id="h-the-excitement-for-bitcoin-is-back"><strong>&nbsp;</strong>The Excitement for Bitcoin Is Back</h2>
<p>This episode is eerily reminiscent of the 2017 bull run frenzy, where Bitcoin hit its all-time high of nearly $20,000. Although prices are currently far from those peaks, the speculative enthusiasm around Bitcoin seems to be back.</p>
<p>If this explosive interest in Bitcoin ETFs continues, it could signal the beginning of a new bullish run. Increasingly more individual investors are drawn to the rapid wealth potential of this cryptocurrency.</p>
<p>It remains to be seen if this sudden spike in volumes on HODL is just an isolated flash in the pan, or a precursor sign of mass adoption of Bitcoin. For now, the crypto market is holding its breath.</p>
<p>This mysterious surge in volumes on the VanEck Bitcoin ETF illustrates just how sensitive the Bitcoin market remains to speculation and crowd effects. Is a viral recommendation and a <a href="https://www.cointribune.com/en/crypto-stablecoins-and-defi-will-explode-thanks-to-the-feds-reductions/" target="_blank" rel="noopener noreferrer nofollow">fee reduction</a> enough to trigger a crypto buying frenzy?</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>

VanEck’s Bitcoin ETF explodes 2200%! BlackRock in panic!

목차

Cointribune EN

2024년 2월 21일에 게재된 다른 기사

‘Bitcoin Is Still Ranging Between 2 Super Important Levels’: Analyst Eyes $60,000 For BTC if This...

CoinMarketCap Introduces First-Ever Crypto Awards

SEC crypto unit leader departs for private sector following Coinbase litigation

Billionaires Exit Long Positions: Should You Sell Crypto?

Revolutionizing Classrooms: How AI Enhances Teaching and Learning

With 2023 All About PEPE and BONK, Could 2024 Be NUGX and WIF Year?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!