US Bitcoin ETFs Report Record $7.69 Billion Trading Volume, Bitcoin ETF volume record, Shiba Inu privacy network
The cryptocurrency market has recently witnessed significant developments. The Bitcoin ETF volume record and Shiba Inu both make headlines. The Bitcoin ETF price surge above $64,000 marked a historic high in more than two years. This surge not only set a significant milestone but also triggered a record-breaking trading volume. The impact is particularly evident in newly approved US bitcoin exchange-traded funds (ETFs). Meanwhile, the Shiba Inu price surge increased by a significant 25%, reaching a multi-month high. Additionally, it has seen substantial growth in large-holder inflows. Additionally, Shiba Inu unveils plans to collaborate with Zama. The collaboration aims to launch a privacy-centric network on the Shibarium blockchain.Read this post on ‘Best Money Market Today’ thoroughly to know more about this.
Bitcoin ETF Volume Record Explodes, Reaching New Record:
The Ten recently approved US Bitcoin ETFs have broken their previous trading volume records. The US Bitcoin ETF record volume reached an unprecedented $7.69 billion on February 28, 2024. This staggering figure surpasses the previous record by more than 65%. This highlights the growing interest in these investment vehicles. BlackRock’s iShares Bitcoin Trust (IBIT) has played a significant role. It claimed 43.5% of the total volume, with $3.35 billion traded. This marked double its previous daily record. Grayscale Bitcoin Trust (GBTC) recorded significant volume, taking second place. Additionally, the Fidelity Wise Origin Bitcoin Fund (FBTC) also recorded substantial gains. It ranked third in overall trading activity among the ten spot BTC ETFs.
Read This: Top 10 Stablecoins in 2024: A Guide for Investors
Shiba Inu Price Surges 25% as Bitcoin Surpasses $64,000:
Amidst the Bitcoin ETF volume record upward trajectory, Shiba Inu has experienced a significant increase in price. Shiba Inu price surge reached a multi-month high of $0.00001473. The cryptocurrency surged by 25% in early trading. The current price stands at $0.00001365, reflecting a 41% gain for the week. The rally period has been extended for six consecutive days. This has been fueled by Bitcoin surpassing $64,000. Notably, Shiba Inu has seen a 700% increase in the flow of large containers. This aligns with price growth and indicates significant buying activity.
Shiba Inu Launches a Privacy-Focused Network on Shibarium:
Shiba has strategically partnered with Inu Zama. They announced plans for a privacy-focused network on the Shibarium blockchain. The goal of this Shiba Inu privacy network is fully homomorphic encryption (FHE). It is designed to improve the privacy features and data security of SHIB tokens. The move toward a Shiba Inu privacy network aligns with broader trends in the cryptocurrency space. It emphasizes the importance of privacy and security.
Read This: Bitcoin Halving in April 2024 & Price Predictions
Bitcoin Price Reaches Over $64,000 for the First Time in Over Two Years:
The Bitcoin ETF volume record soars to heights not seen in over two years. It reached over $64,000. This increase in price is noticeable. It is considering a $60,000 retracement of the cryptocurrency after reaching the top. Market watchers attribute demand for spot bitcoin ETFs as a significant driving force behind the price increase. They emphasize the growing relevance of these investment vehicles in the cryptocurrency market.
The new record for #Bitcoin ETF trading volume is officially $7.69 billion. Previous record was $4.66 billion from launch day. https://t.co/rZsOSUqk35 pic.twitter.com/QaOKe2LuVU
— James Seyffart (@JSeyff) February 28, 2024
BlackRock’s Bitcoin ETF Sees Record-Breaking Trading Volume:
Among the newly approved bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) stands out. It broke the volume record for the third day in a row. With more than 96 million shares changing hands on February 28, valued at about $3.3 billion, IBIT’s trading volume more than doubled its previous daily record. This remarkable achievement highlights the significant market activity and investor interest in BlackRock’s Bitcoin ETF. Aggregate trading activity for ten spot BTC ETFs reached $7.7 billion. This number broke the previous record set on their launch day.
US Bitcoin ETFs See Massive Trading Day as Bitcoin Price Surges:
The frenzy in the market has reached unprecedented levels. US Bitcoin ETFs registered a staggering $7.69 billion in trading volume. This number is more than double the previous record set on the ETF’s launch day. This emphasizes the overwhelming investor interest in these financial instruments. Bloomberg analyst Eric Balchunas noted that the trading boom also extended to bitcoin futures ETFs. BITX saw record-breaking volume. ETF trading is overall bullish as the Bitcoin price rises to $64,000. Subsequently, it experienced a slight decline.
Recent developments in both Bitcoin and Shiba Inu reflect the dynamic nature of the cryptocurrency market. Bitcoin’s price surge doesn’t just take it to multi-year highs. This has driven unprecedented trading volumes in newly approved US Bitcoin ETFs. At the same time, the Shiba Inu price surge stands out as a significant factor. Additionally, increased business activity has been observed. Additionally, plans for a privacy-focused network highlight growing interest and confidence in the broader cryptocurrency ecosystem.
