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Friday, February 23, 2024
More
    bitcoin
    Bitcoin (BTC) $ 51,161.71
    ethereum
    Ethereum (ETH) $ 2,948.46
    tether
    Tether (USDT) $ 0.999239
    bnb
    BNB (BNB) $ 382.29
    usd-coin
    USDC (USDC) $ 0.999403
    xrp
    XRP (XRP) $ 0.538323
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.084001
    cardano
    Cardano (ADA) $ 0.589066
    solana
    Solana (SOL) $ 102.57
    matic-network
    Polygon (MATIC) $ 0.987919
    polkadot
    Polkadot (DOT) $ 7.41
    tron
    TRON (TRX) $ 0.138715

    SEI, SUI, RUNE droop as Bitcoin drops amid Grayscale dump

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    BuyBitcoinsWithUsdEur

    • Sei (SEI) Sui (SUI) and THORChain (RUNE) had been amongst greatest decliners on Thursday as Bitcoin and Ethereum struggled.
    • Declines for BTC got here amid ongoing sell-off from Grayscale, which had deposited over $1.7 billion in BTC to Coinbase Prime since January 12.

    The crypto market flipped purple on Thursday afternoon as Bitcoin worth fell under $41,500 once more. Altcoins had been additionally struggling, with Ethereum under $2,500 as the worldwide crypto market cap shrunk by about 2.4% to $1.71 trillion.

    Among the many greatest losers on the day had been Sei (SEI), down 15%; Sui (SUI) down 10%; and THORChain (RUNE), down 13% on the time of writing.

    Grayscale dumping BTC amid ETF redemptions

    The crypto downturn got here as Grayscale transferred one other 9,840 BTC value $418 million to Coinbase Prime, with the full quantity of BTC moved from the GBTC ETF issuer reaching 41,478 BTC. In whole, Grayscale has moved over $1.7 billion in BTC to Coinbase Prime since January 12, with these bought as the corporate handles redemptions.

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    On Thursday, Grayscale noticed $450 million in outflows. Alex Thorn, head of analysis at Galaxy famous this outlook on X.

    Each BTC and ETH had been buying and selling 3% down up to now 24 hours, whereas within the prime 10 cryptocurrencies by market cap, Solana had shed greater than 5% because it dipped under $100, whereas Avalanche was buying and selling practically 6% within the purple at $33.49.

    See also  XRP whales set off surge as new on-line buying and selling platform token presale gathers steam

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