Risk WarningChoosing skilled traders partially helps you capitalize on good profit opportunities.
Bloomberg ETF analyst Eric Balchunas, in a Jan. 25 post, observed that GBTC outflows appear to be "seemingly trending down," although he acknowledged that it still constitutes a substantial figure. Balchunas, in earlier analyses, had emphasized the presence of "too many unknowns" to accurately predict when the anticipated "mass exodus" from GBTC would cease.
Over nine trading days, GBTC has witnessed an outflow of 106,092 BTC, equivalent to approximately $4.4 billion. Despite the slowdown in daily outflows, it is essential to note that this does not definitively signal the conclusion or deceleration of the GBTC "bleeding." Balchunas had previously estimated that GBTC would need to shed around 25% of its outstanding shares before a cessation of outflows could be anticipated.
Related: Bitwise Takes Lead as First US Bitcoin ETF to Publicly Share Wallet Address
Arkham Intelligence, a blockchain tracking firm, has cautioned against potential misinterpretation of GBTC outflow data displayed on its platform. In a post on Jan. 24, Arkham clarified that the outflow data for GBTC on its platform is divided between Coinbase Prime and new GBTC custody addresses. This implies that not all BTC moved from Grayscale's Bitcoin Trust is necessarily being redeemed.
The explanation provided by Arkham highlighted the intricacies of Bitcoin transaction outputs due to the input-output structure of its blockchain. It pointed out that Bitcoin transaction outputs are often distributed among multiple addresses. Furthermore, Arkham noted that GBTC custody wallets frequently send funds to multiple addresses, resulting in some of the BTC sent in a transaction going to an address different from the main recipient shown in the transaction panel.
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Risks and Benefits: Copy trading helps save time and effort in market monitoring and trade execution. However, it's essential to understand that copying trades can result in profits or losses depending on the trading activities of the chosen trader.
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Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a de
Sandeep Nailwal, Co-founder of Polygon Labs, commented on Gas Hero's achievements:
The appeal of Gas Hero is evidence of the current demand for web3 games. It is a positive sign of the trajectory our ecosystem is heading towards, a scenario where a multitude of new gamers will join web3.
Gas Hero currently boasts over 10,000 active users, providing players with a seamless gaming experience on both mobile devices and computers, without the need for downloading the game.
Related: NFT Platform Magic Eden Transforms into Non-Fungible DAO
Ranking of Gas Hero's NFT Collection Transactions
According to CryptoSlam's compilation, the Gas Hero Common Heroes collection is the fifth most traded NFT collection in the last 24 hours.
Rankings are based on transaction volume for top NFT collections.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when m
Related: Outflow of GBTC Funds Approaching Depletion
The quarter showcased diverse performance across Tesla's divisions. While automotive revenues experienced marginal growth, the energy generation and storage segment reported an impressive 10% increase in revenue. On a positive note, services and other revenue surged by 27%, underscoring the company's expanding market reach. However, the overall gross profit witnessed a notable decrease of 23%, and the operating income took a significant 47% dip, reflecting the competitive and challenging economic landscape.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when mak
Risk Warning
Choosing skilled traders partially helps you capitalize on good profit opportunities. With hundreds of professional traders on BingX, you have a diverse range of choices. However, in any market participation, there are always potential risks and losses. Careful consideration is essential before getting involved.
These are the tips to help you engage in effective Copy Trading. Best of luck!
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a de
