ETF Outflows Continue – Decrypt

ETF Outflows Continue

Despite Bitcoin’s decline, several alternative cryptocurrencies remain robust. Fantom (FTM) emerges as the top-performing Layer 1 blockchain, while Coinbase introduces futures trading. Exchange-traded funds (ETFs) witness a $94 million outflow, although outflows from Grayscale Bitcoin Trust (GBTC) may decelerate. Approximately $1 billion worth of Bitcoin shorts face liquidation if prices reach $67.8k. Coinbase’s premium resurfaces, marking the first occurrence since Bitcoin’s all-time high. Bitcoin continues its streak with seven consecutive months of positive performance. Solana’s (SOL) decentralized exchange (DEX) achieves a monthly volume of $50 billion, with revenue soaring 30-fold. OKX announces support for a new Solana token standard. Despite expectations, Layer 2 activity remains sluggish post-Dencun, according to Vitalik Buterin.