Bitcoin ETFs in the US registered an inflow of $158.3 million on Thursday
On September 19, Bitcoin ETFs saw a significant inflow of $158.21 million, marking a strong recovery from the previous day’s outflow of $52.7 million. The main contributors to this inflow were the Ark 21Shares Bitcoin ETF (AMEX:ARKB), attracting $81.07 million, and the Fidelity Wise Origin Bitcoin Fund (AMEX:FBTC), with $49.88 million. The BlackRock ETF (NASDAQ:IBIT) recorded its third consecutive day of zero flows, while Grayscale (AMEX:GBTC) experienced a slowdown in outflows.
Ether spot ETFs saw $5.24 million in net inflows yesterday, exclusively from the BlackRock fund (NASDAQ:ETHA). Meanwhile, the other eight funds showed no flows on Thursday.
Bitcoin nears key resistance of $65,000
On Friday afternoon, Bitcoin (COIN:BTCUSD) is down 0.4% in the last 24 hours, trading at $62,700. The cryptocurrency’s price fell alongside US stocks, with the S&P 500 and Nasdaq posting losses of 0.25% and 0.43%, respectively. Popular traders believe Bitcoin looks attractive, with low volume, as it approaches the $65,000 resistance. Analysts note that a weekly close above $64,000 could signal a bullish breakout in the market structure, pushing for new highs.
MicroStrategy buys 7,420 bitcoins with debt proceeds
MicroStrategy (NASDAQ:MSTR) purchased 7,420 bitcoins for $458.2 million between September 13 and 19, at an average price of $61,750 per BTC. The company expanded its convertible note issuance to $1.01 billion, intended to fund additional BTC acquisitions. MicroStrategy now holds 252,220 bitcoins, acquired at an average cost of $39,266.
The complexity of cryptocurrencies hinders mass adoption
The technology behind cryptocurrencies and blockchain is complex, deterring many ordinary users and hindering mass adoption. Research indicates that a significant portion of people avoids cryptocurrencies because they don’t understand how they work. Experts suggest that the industry should simplify technical terms and create more user-friendly interfaces, focusing on public education. Additionally, the difficulty in securely storing digital assets is another obstacle. Confusing regulatory environments also increase user hesitation. Simplifying processes and offering interactive learning experiences could make cryptocurrencies more accessible, encouraging broader adoption.
Solana’s Seeker phone announcement boosts SOL
Solana developers announced that the network’s second phone, the Seeker, will be released in 2025, boosting trading activity and pushing SOL’s price (COIN:SOLUSD) to an intraday high of $152.41. SOL is now up 2.4%, trading at $146.33, while Bitcoin shows a slight decline. According to Beincrypto, if the strong bullish momentum continues, SOL could break the $160 resistance and reach $190; otherwise, it may retreat to $131.47.
Aptos rises with new strategic partnerships
Aptos (COIN:APTUSD) is up 5.14% at the time of writing, trading at $7.16, standing out in the market. The increase was driven after MEXC Ventures, Foresight Ventures, and Mirana Ventures created a fund to support projects on the Aptos blockchain. This initiative aims to accelerate the development of decentralized applications and protocols using Aptos’ unique technology. The fund will also support innovative solutions for critical challenges in the blockchain community.
Aethir and Filecoin join forces to combat global GPU shortage
Aethir, a decentralized cloud computing network with GPUs, has partnered with the Filecoin Foundation (COIN:FILUSD) to address the global GPU shortage. Together, they offer integrated GPU rental services with Filecoin’s decentralized storage, aiming to meet the growing computational demands of the AI and Web3 sectors. The collaboration seeks to balance computational power and data storage in a decentralized manner, avoiding single points of failure and improving GPU efficiency.
PancakeSwap launches v4 to enhance user experience and expand to more networks
The decentralized exchange PancakeSwap (COIN:CAKEUSD) reported $836 billion in accumulated trading volume and a total value locked (TVL) of around $1.72 billion over four years, though it has declined since its 2021 peak of $7.16 billion. To improve user experience and scalability, PancakeSwap announced version v4, aiming to address current AMM deficiencies, such as inflexible pricing models and high gas fees. The update will offer dynamic fees, advanced tools, and plans to expand its DEX to more blockchains.
Judge dismisses Consensys lawsuit against SEC after Ethereum investigation ends
Consensys sued the SEC for overreach due to the Ethereum investigation. However, after the regulator ended the investigation, a Texas judge ruled that the lawsuit was unnecessary since there was no imminent threat to the company. The SEC ended the “Ethereum 2.0” investigation, meeting Consensys’ demand, but the company claimed the action raised concerns about SEC oversight in the blockchain sector.
India’s Supreme Court YouTube channel hacked, shows Ripple videos
On Friday, the official YouTube channel of India’s Supreme Court was hacked for the first time. The channel, which typically livestreams court sessions, displayed videos promoting XRP tokens (COIN:XRPUSD) and had its name changed to “Ripple.live24”. A fake video titled “Brad Garlinghouse: Ripple responds to SEC’s $2 billion fine! XRP PRICE PREDICTION” aired. The channel and video were taken down shortly after. The Supreme Court stated that the channel would return soon.
Germany shuts down 47 crypto exchanges for facilitating criminal activities
The German government closed 47 cryptocurrency exchanges, accusing them of knowingly enabling an underground market that benefits cybercriminals. Authorities allege that these platforms facilitated the concealment of illicit funds’ origins, including ransomware operations and black-market trades. While they seized servers and user data, the government acknowledged the difficulty in prosecuting all involved, especially those residing abroad.
Judiciary approves Terraform Labs bankruptcy after SEC settlement
Terraform Labs obtained judicial approval to end operations in its bankruptcy proceedings after settling a case with the US Securities and Exchange Commission (SEC), Reuters reported on September 19. Judge Brendan Shannon deemed the bankruptcy plan in Delaware a “welcome alternative” to avoid further litigation over investor losses. The company agreed to pay $4.47 billion to the SEC for frauds estimated at $40 billion. Co-founder Do Kwon is set to contribute $110 million and transfer assets to compensate affected investors.
Nexon integrates blockchain to transform online gaming with MapleStory Universe
South Korean gaming giant Nexon announced the integration of blockchain technology into MapleStory Universe, allowing the market to control in-game assets. Keith Kim, head of strategy, emphasized that this approach removes centralized control and creates a more sustainable economy, giving players greater control over assets. Additionally, the company launched its cryptocurrency NXPC for in-game transactions.
Telegram’s Catizen token launched amid player dissatisfaction
Telegram’s play-to-earn game Catizen launched its CATI token for trading after a two-month delay, distributing 150 million tokens (15% of the total) to Season 1 users. Trading began on Friday on exchanges like Binance, Bybit, and Bitget. However, players were disappointed when token allocations were reduced before the airdrop, with 9% diverted to the Binance Launchpool. Catizen has over 39 million users and significant revenue, contributing to TON blockchain’s rapid growth in users and transaction volume.