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Transaction volume in the past 30 days for Tether, USDC, and DAI, has surpassed Visa’s 2023 monthly average, according to Nansen.
Ether has outperformed bitcoin for two consecutive weeks, as traders seek altcoin gains following the halving event, Bitfinex analysts noted.
Bitcoin hash price, the daily U.S. dollar value of a unit of hashing power, has fallen to fresh all-time lows. Despite a brief pop in revenue for miners post-halving amid the Runes frenzy transaction fee windfall, hash price has now dropped to less than $50 per PH/s per day.
Bitcoin miners are reaping the benefits of Runes after the halving, with skyrocketing transaction fees lessening the impact of reduced block rewards.
Crypto investment products witnessed a further $435 million in net outflows globally last week as incumbent ETF issuers continue to see withdrawals.The outflows are the largest since a record of nearly $1 billion during the third week of March as bitcoin fell from its latest all-time high.
Before the launch of spot cryptocurrency ETFs in Hong Kong, the city’s ETF market accounts for 0.6% of the entire U.S. ETF market.
