The cryptocurrency market witnessed several major developments this week, including significant Bitcoin spot ETF outflows, a large Ethereum purchase by Sharplink, a milestone for USDT0, and TRON accounts crossing the 390 million mark. Additionally, Kiwoom Securities is reportedly eyeing a stake in South Korean exchange Bithumb.
Bitcoin Spot ETFs See $1.79 Billion in Weekly Outflows
According to SoSoValue, Bitcoin spot ETFs recorded a net outflow of $1.79 billion during the past trading week. BlackRock’s IBIT led the outflows with $1.303 billion, followed by Fidelity’s FBTC with $315 million. The Grayscale Bitcoin Mini Trust bucked the trend with a weekly net inflow of $71.701 million. The total net asset value of Bitcoin spot ETFs now stands at $72.82 billion, with a cumulative historical net inflow of $51.61 billion.
USDT0 Surpasses $100 Billion in Transaction Volume
Tether-backed stablecoin USDT0 has crossed $100 billion in cumulative transaction volume, less than 530 days after its January 2025 launch. Developed by Everdawn Labs, USDT0 is backed one-to-one by Tether’s USDT and enables seamless cross-chain transfers. This milestone underscores the growing role of stablecoins in global payments and institutional finance.
Sharplink Acquires $62.4 Million in Ethereum
After an eight-month pause, Sharplink resumed Ethereum accumulation, purchasing a total of $62.4 million worth of ETH since Thursday. On-chain data from Arkham reveals the company bought 5,000 ETH on Thursday, another 5,000 ETH on Friday, and 29,196 ETH via three over-the-counter transactions on Saturday. The purchases came as Ethereum trades down 22.8% month-on-month and nearly 50% year-to-date.
TRON Accounts Reach 390.24 Million
TRON’s total activated accounts hit 390,243,569, surpassing the 390 million milestone, according to Tronscan data. The network’s total transaction count exceeded 14.5 billion, with total value locked (TVL) above $25.4 billion and on-chain stablecoin market capitalization exceeding $90.4 billion.
Kiwoom Securities Eyes Stake in Bithumb
According to a ChosunBiz report, Kiwoom Securities and Bithumb are discussing a third-party share allocation. The exchange would issue new shares for Kiwoom to purchase, though the size and percentage stake are still under negotiation. This follows Hana Bank’s recent plans to acquire a $670 million stake in Dunamu, operator of Upbit, and Samsung affiliates purchasing about $407.7 million worth of Dunamu shares.
Leave a Reply