Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Digital Asset Market Shows Strong Momentum and Heightened Activity – Blockchain News, Opinion, TV and Jobs
BLOCKCHAIN NEWS

Digital Asset Market Shows Strong Momentum and Heightened Activity – Blockchain News, Opinion, TV and Jobs

By Crypto FlexsMarch 4, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Digital Asset Market Shows Strong Momentum and Heightened Activity – Blockchain News, Opinion, TV and Jobs
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) ended the week at about $63,100, soaring 22% from the previous week’s closing price of about $51,725. This week saw particularly active price action in the first half of the year, with BTC seeing significant gains from Monday to Wednesday, peaking at $64,000 on Wednesday. The price then stabilized later in the week, closing around $63,100. As of this writing, BTC has regained momentum and is currently trading above $65,000.

The BTC Spot ETF continues to see strong momentum, recording cumulative net inflows of approximately $1.7 billion last week, bringing total net inflows since inception to approximately $7.4 billion. Leading the way is the Blackrock Bitcoin ETF (IBIT), which surpassed $10 billion in assets under management (AUM) last week, making it the fastest ETF in history to reach this AUM milestone.

Trading volume for the BTC spot ETF surged significantly during the week, totaling $22.3 billion, with average daily volume reaching nearly $4.5 billion. This is a remarkable 265% increase over the average daily trading volume of $1.7 billion recorded since inception. Currently, the cumulative trading volume exceeds $73.9 billion, and the average daily trading volume exceeds $2 billion and currently stands at $2.1 billion.

Similarly, centralized digital asset exchanges also saw a surge in trading volume, reaching $73.4 billion in cumulative trading volume for the week. This is an 80% increase from the previous week’s volume of $40.7 billion and the highest weekly volume since May 2022. This data highlights recent price gains coupled with strong trading activity.

The increase in open interest, which refers to the total number of outstanding derivative contracts for unsettled assets, is driven by centralized digital asset exchanges (e.g. Binance, Coinbase, ByBit, etc.) and traditional financial investor platforms (e.g. CME). This reflects heightened activity from both digital asset native and traditional financial investors.

The strong momentum extends beyond Bitcoin to the entire market, with the total digital asset market cap now at $2.5 trillion, approaching its all-time high of $3 trillion. In particular, the Total3 indicator, which represents the market capitalization of the top 125 capitalized digital assets excluding Bitcoin (BTC) and Ethereum (ETH), surged to $660 billion, recording growth of 19.3% and 31.5% per share. Increased from this year to present. This highlights the far-reaching impact that the BTC Spot ETF has on market momentum beyond BTC’s price action.

Examining the overall stablecoin supply can also provide insight into growing demand. During periods of low demand, the supply of stablecoins typically decreases as investors exchange them for fiat currencies such as USD, GBP, or EUR, reducing the overall circulating supply. Conversely, during phases of increased liquidity injection into the market, the supply of stablecoins tends to expand. Total stablecoin supply currently stands at approximately $145 billion, reflecting a continued upward trend from approximately $129 billion at the end of September 2023. This confirms the continued strong investor demand observed from Q4 2023 to Q1 2024.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

The new gold protocol of the BNB chain is due to the $ 2 million launch day nucleus.

September 20, 2025

Rabby Wallet integrates XRPL EVM chain with peersyst

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Bitmain provides Antminer L9 for Scrypt algorithm

June 4, 2024

Ethereum hits $3000 but is ‘out of touch with reality’: expert

February 21, 2024

Crypto Trader Earned $6.7 Million in Ethereum Tokens in 3 Hours Here’s how:

January 20, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.