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Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty

Institutional investors have been a big part of the crypto market ever since they started investing in the market. Just like every other investors, institutional investors are not immune from the wild price fluctuations that characterizes the crypto market. This has resulted in big money looking for safe havens to move their money into while the worst of the market blows over. Sometimes, they turn to altcoins but this time around seem to have fond better luck with crypto products. Outflows Rock Market The recent recovery of the crypto market has been rocked once more by outflows. As prices had recovered, more investors had chosen to take profits and this had lead to more outflows. The previous week saw these outflows from digital investment products grow as high as $141 million in a single week, one of the largest in 2022. This had seen the total assets under management (AuM) decline towards one-year lows, now sitting at $38 billion. The last time AuM was this low had been in July 2021. Related Reading | LUNA Records 100% Growth In A Single Day. More Upside Coming? Both Bitcoin and altcoins were not spared the onslaught. For the pioneer cryptocurrency, the inflow trend from the previous week had been swiftly reversed. It instead saw outflows totaling $154 million in a single week, making it the largest loser from last week. In the same vein, Ethereum had also followed in the footsteps of bitcoin with outflows reaching $0.3 million.  Other altcoins would not follow this trend though. Digital assets such as Cardano and Polkadot have been making their way into the radar of institutional investors and this saw both asset bring in $1 million in inflows respectively.  Crypto market cap drops to $1.239 trillion | Source: Crypto Total Market Cap on Blockchain equity investment products would suffer the same fate as Bitcoin and Ethereum and outflows had reached $20 million. This followed the recent trend of broad sell-off in equities that had seen more investors move out of them. Multi-Crypto Products Provide HavenB With so much bad news floating around the market, institutional investors have sought refuge in other places besides directly investing in cryptocurrencies. What they have landed on have been the multi-crypto investment products which have emerged the recent winners for last week.  These multi-crypto investment products saw inflows totaling $9.7 million for last week alone. This has brought the total assets under management to $185 million for multi-crypto investment products, while the total inflows make up 5.3% on a year-to-date basis. Related Reading | Long Liquidations Continue To Rock Market As Bitcoin Struggles To Settle Above $30,000 It remains one of the best performing when compared to its other counterparts. While others have seen countless weeks of outflows in 2022 so far, there have been only two weeks where multi-crypto investment products had recorded outflows, making it a safer bet for institutional investors during times of market uncertainty. Nevertheless, year-to-date and month-to-date net flows remain positive for bitcoin. It currently sits at $307 million and $187 million respectively. Although $1.1 million had left the market as a result of outflows from short bitcoin. Featured image from Moneycentral, chart from

Crypto News

Solana (SOL) Could Register An Upswing, Thanks To This Pattern

Solana has been currently trading within a consolidation phase. Despite a recovery on charts, the coin is trading at the level it last traded in the month of August, last year. Over the last few days, the coin observed lateral price movements. Usually after a consolidated phase, it can be assumed that the altcoin could witness a change in the price movement. Technical outlook painted a positive price action for Solana on both its hourly as well as daily chart. Solana has recovered by over 40% from its lowest price which was recorded mid month, this year. At the moment, Solana has been trading between $44 and $58 price level. If the coin has to invalidate the bears completely, a jump above the $70 will be required. As the price of the asset started to note northbound movement, buyers regained confidence and started to re-enter the market. Solana Price Analysis: One Day Chart The altcoin was exchanging hands at $53 at the time of writing. Although, SOL was moving sideways, the technical pointed towards a possible bullish revival. Nearest resistance line for the coin stood at $60 and if the coin struggles too much to break past the aforementioned level then SOL could attempt to visit the next support line. The next price floor for SOL was at $44.85 and then at $34. Solana has visited these levels almost over ten months ago when the coin was on a bullish price action. Bullishness can be pointed out because SOL has just managed to bounce off the long standing support line (yellow) of $40 on the above chart. This particular price action can be attributed to a further upside movement. Related Reading | Solana TVL Sees Sharp Decline, Reaches 2022 Low One Hour Chart An ascending triangle has been formed on the one hour chart. This formation is tied to a bullish price action in the market. Solana could soon break past $53 price level and challenge the $60 mark. If the buyers are consistent in the market, this could happen even sooner. Volume of the coin was seen in the green which is again directly related to bullish strength in the market. It is possible that the coin might consolidate over the immediate trading sessions and then finally break past the sideways trading pattern. Technical Analysis Buying strength returned on the charts for Solana. As the coin regained some of its vigour back, investors are also back in the market. As seen on the Relative Strength Index, the indicator noted an uptick. Solana was not oversold anymore, however, the coin still witnessed more selling pressure compared to buying pressure in the market. Moving Average Convergence Divergence noted green signal bars after noting a bullish crossover. The green signal bars highlight a change in the price momentum along with depicting that selling pressure was declining. With decline in selling pressure, Solana would again attempt to move past its immediate resistance mark. Related Reading | LUNA Records 100% Growth In A Single Day. More Upside Coming?

Crypto News

How Blockchain Technology Expands The Education Frontiers

From digital tokens to play-to-earn games, blockchain technology has disrupted several industries. Today, it is entering the education sector. From cross-border payments to synthetic assets, distributed blockchain ledgers and their tokenization utilities have created powerful financial products that are globally accessible. While blockchain is democratizing finance, its usability doesn’t have to be limited to cryptocurrencies. Another industry that carries equal weightage as finance and needs an immediate restructuring is education. The current system doesn’t cater to all students equitably. Some have more access to higher-level education, while others struggle to get the bare minimum, which was primarily observed during the pandemic. So to make sure such disparity never occurs again and all learners have access to top-notch education, there has to be a solution fundamentally changing the education system from the inside out, and many believe blockchain technology powering the metaverse is the way to go. Blockchains Can Make Structural Changes to Education The distributed ledger technology can significantly impact how teachers and students interact and how academic documentation is done. Educators can program lessons and curriculums onto a blockchain by leveraging smart contracts. Furthermore, smart contracts can distribute academic credits to students upon completing all course modules. Aside from automation, blockchains excel at rights management and privacy protection. As a result, researchers attempting to publish their papers can retain full ownership of their work while avoiding traditional publication procedures. For educational institutions, blockchains reduce the burden of file storage and document verification. Currently, most institutions use centralized cloud servers to store student data, making them vulnerable to single-point failures. To overcome this, institutions need decentralized file storage systems. They ensure data is secure and that no third party can alter student records. Moreover, it costs considerably less compared to cloud storage. Education Meets Metaverse For Immersive Learning Experiences While blockchains vastly improve the efficiency and security of business and academic processes within education systems, it alone doesn’t address the main problem: student engagement. Since the pandemic, the new normal for students has been online learning. Although online tools have made education more accessible, they still lack the ability to provide immersive learning experiences. This is where metaverses step up to the plate. Blockchain-powered metaverses can transform online learning environments into virtual spaces with enhanced social interaction and gamified learning techniques. While education in the metaverse is a fairly new concept, there are projects like Edverse making headway. Edverse is creating the most immersive and insightful education metaverse on blockchain by bringing teachers, learners, promoters, creators, and institutions together. Edverse also values gamified learning. They are introducing tokens and NFTs to incentivize all stakeholders for their contribution and participation. Similar to play-to-earn, Edverse incorporates learn-to-earn and wear-to-earn incentive models. Educators can transform their learning modules into NFTs and sell/rent them on an open marketplace. And when learners complete these modules, they earn experience points which can be redeemed for $EDV tokens. Edverse is also suited for educational institutions or promoters. They can buy, create, and rent co-learning spaces to launch new custom courses and advertise on a global stage. In addition to gamification, Edverse is raising the bar for global learning standards. It covers learning journeys from Kindergarten to Class 12, with a focus on skill empowerment, physical strengthening, and ancient sciences. New Education Revolution Around the Corner? Education is one of the largest industries in the world that is untapped technology-wise. Many online platforms and tools are improving the medium of learning at scale, but the experience remains old-school. The use of blockchains can structurally change the way education is available to students and eliminate the issues in academic documentation and evaluation. Metaverses with blockchain solutions and advancements in VR/AR are needed to make that next jump in the digital-first world for the education sector. With increasing awareness and widespread acceptance, it is not too far stretched to see institutions and learners adopt blockchain in some capacity in the near future.  

Bitcoin Crypto News

Institutional Investors Flood Over $300 Million In Bitcoin Fund, BTC To Reverse Above $30k?

Last week saw one of the largest losses of value in the history of cryptocurrency. Bitcoin and the general crypto market crisis was hit by the Terra ecosystem’s collapse. Bitcoin plummeted to under $30,000. Obviously, institutional players took advantage of the circumstance. Investors Flood Bitcoin Institutions reportedly invested $300 Million into exchange-traded Bitcoin funds last week, according to reports. According to CoinShares, the previous week recorded record weekly crypto inflows for the year 2022. The net weekly inflows were $274 million in the previous week. While North American investors pumped $312 million into cryptocurrency last week, European investors saw a $38 million net outflow. According to the CoinShares report: Investors saw the recent UST stable coin de-peg and its associated broad sell-off as a buying opportunity. Bitcoin was the primary benefactor, with inflows totalling US$299m last week, suggesting investors were flocking to the relative safety of the largest digital asset. CoinShares’ head of research, James Butterfill, expressed amazement at the unprecedented volume of bullish investments in Bitcoin funds despite increased market volatility. “It’s the highest weekly total since October 2021, and the 19th highest since records began in 2015,” he said. Source: Coinshares Bitcoin’s price peaked at $69,000 in November of last year, and it has since been on a steady decline, losing more than 50% of its value. The Bitcoin price has dropped by more than 20% since the beginning of May 2022. Related reading | Grayscale Met With The SEC, Tried To Convince Them To Turn The GBTC Into An ETF Would Price Surge? Bitcoin plummeted against the US dollar and hit the $29,000 support level. BTC must settle above the $30,500 resistance to begin a solid rise. Bitcoin dipped below $30,000 after failing to gain traction above $31,000. The price is currently trading above both the $30,000 and the 100 hourly simple moving averages. A break over a connecting negative trend line with resistance near $29,600 was seen on the hourly chart of the BTC/USD pair. The pair could acquire bullish momentum if it closes above the $30,500 resistance. Although the price dipped below $29,500, bulls were active near $29,000. The price has recovered losses after forming a low near $29,060. Above the $29,500 barrier, there was a clear upward movement. The price surpassed the 23.6 percent Fib retracement level of the latest drop from the swing high of $31,390 to the low of $29,060. There is immediate resistance near the $30,300 mark. It’s approaching the 50% Fib retracement level of the latest drop from the swing high of $31,390 to the low of $29,060. A solid close above $30,300 might pave the path for a large gain. BTC/USD trades slightly above $30k. Source: TradingView Around $31,400 is the next major resistance level. In the next sessions, a clear break over the $30,300 and $31,400 resistance levels could kick-start a new upswing. Near $32,500 could be the next big resistance level, after which the price could rise to $34,000. If bitcoin fails to break past the $31,400 barrier mark, it could fall further. On the downside, $29,600 provides immediate support. Around $29,000 is the first substantial support. If the price breaks and closes below the $29,000 support level, it might herald the start of a significant fall. Related reading | TA: Bitcoin Holds Key Support, Why BTC Must Clear This Resistance Featured image from iStockPhoto, Charts from

Crypto News

Investors Make For Stablecoin Hills As USDT Volume Touches All-Time High

With the market in turmoil, crypto investors are beginning to turn to stablecoins such as USDT and USDC to provide cover from losses. These stablecoins which are pegged to the U.S. dollar have been the obvious winners from the recent crash but it seems that investors are taking it one step further this time around. USDT volume across the Ethereum blockchain shows that investors are ramping up their activities in these stablecoins. USDT Provides Much-Needed Cover Through the crypto market downtrend, only a handful of cryptocurrencies have managed to retain their values. They were all stablecoins, and although some of them had lost their peg, the majority had been able to retain and provide some much-needed cover for investors. The sheer amount of volume of USDT being moved by investors on a daily basis is a testament to the fact that investors are converting to stablecoins to weather the bear market. Related Reading | Market Downtrend Trigger Bitcoin Inflows From Institutional Investors On May 12th, the volume of Tether USD being transacted on the Ethereum network reached a new all-time high. Data shows that more than $33 billion worth of USDT was moved across the network. This is significantly higher than the $24.5 billion in USDT that was transacted on February 4th, 2021, the previous all-time high. USDT-U.S. Dollar peg at $0.9990 | Source: USDTUSD  on However, the motives behind both records had been the same; investors getting out of highly volatile digital assets into an asset that offered a measure of stability. These investors did not wish to cash out their digital assets to fiat currencies just yet and assets like USDT or USDC provide the perfect place to park funds while waiting out the bear market. Ethereum Fees Skyrocket One thing that investors moving into stablecoins such as USDT has brought with it is increased transaction fees on the Ethereum network. With so much volume being moved across hundreds of thousands of transactions, the network is expectedly congested and as such would have to increase gas fees to be able to process these transactions. Related Reading | Ethereum Tumbles To 10-Month Lows As Sell-Offs Intensifies This was the case on May 12th as the network had recorded a large number of transactions. Gas fees on the network for a single USDT transaction were shown to have risen as high as $20 during this one-day period. As many as 182,000 Tether transactions had been carried out in the 24-hour period. Despite this high demand for the stablecoin though, the market cap has not reflected this. Instead of increasing, it is down by 3.34% in the last 24 hours. Nevertheless, it remains an investor favorite as it is the largest stablecoin in the market. At the time of writing, one USDT is selling for $0.9988, maintaining a close peg to the U.S. dollar. Featured image from Wccftech, chart from