Blackrock Bitcoin ETF Sees Outflow After U.S. Election Results, Tron Integration Causes A Stir As Cutoshi Hits $800K Mark
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November 13, 2024 06:45 AM Eastern Standard Time
Blackrock Bitcoin ETF Sees Outflow After U.S. Election Results, Tron Integration Causes A Stir As Cutoshi Hits $800K Mark
The US presidential election race is over, and the atmosphere in the crypto market is one of glee as the market warms up to the news of Donald Trump’s presidency. Bitcoin (BTC), as expected, was one of the first to hit new heights, and the rest of the market followed accordingly. But prior to all that spike in the BTC price, Bitcoin ETFs were on a streak of outflows. Even Tron (TRX) is yet to join the profit train, but Cutoshi (CUTO) is trending among traders.
Despite Bitcoin Price Surge, Bitcoin ETFs Dip
The US elections were supposed to be a boost to the Bitcoin ETFs, but unlike the Bitcoin price, they were on a dip in the run-up to the election. The iShares Bitcoin Trust led the losses at the start of the week, with $44.2 million in outflows even before election day.
BlackRock and ten of the other ETFs posted $116.8 million outflows on election day, led by the Fidelity Wise Origin Bitcoin Fund. It was a rare occurrence for most of the ETFs, especially BlackRock stating only its sixth day of loss since its launch in January.
Their fortunes changed with the election results, when the BTC price broke past its $75,000 resistance. The Bitcoin ETFs recorded over a billion dollars in inflows on election day, with BlackRock seeing injections up to $1.1 billion on that day. The next few days will be crucial as the market anticipates further surges in the BTC price.
Tron Integrations See Chainlink Oracle Links And ETH-TRX Bridges
Tron (TRX) founder Justin Sun announced the introduction of Chainlink's oracle feeds to the Tron blockchain to increase security to its DApps, typically JustLend and JustStable. Both DeFi apps are worth about $6.5 billion on the network.
Sun made the statement at the Chainlink SmartsCon event in Hong Kong, of which Tron (TRX) was a silver sponsor. The founder stated that the TRON crypto network was going to join in the Chainlink Scale Program, integrating the oracles to also provide developers with access to reliable oracle services, as well as opportunities for the stablecoins and RWAs locked on the blockchain.
For the USDC on Tron (TRX), there are new bridges connecting the network with Ethereum through the TRON-Peg USD coin. The token facilitates smoother stablecoin transfer between both chains, contributing to the growing wave of interoperability that is taking over the DeFi space. The TRON price is currently trading at a weekly 3.59% loss, but the new development on the project could soon drive the TRON price into bullish trends.
Cutoshi: Meme Coin Combined With DeFi Utilities
Cutoshi’s origin is firmly rooted in meme and DeFi, sporting the lucky charm the Lucky Cat and blockchain principles from Bitcoin (BTC) creator Satoshi Nakamoto's teachings.
The Decentralized Exchange platform is an avenue for users, especially the meme enthusiasts on the ecosystem, to access token swap and exchange services without leaving the interface. The traffic and insecurity of current exchanges makes Cutoshi's DEX a great alternatives option for traders.
Another standout feature of the Cutoshi (CUTO) project will be its token farming. Users earn tokens by participating in challenges and completing tasks to accumulate points. These points can then be redeemed into CUTO tokens to boost investors' crypto portfolios. The token farming is already live, and more than 1500 users are already actively raking in rewards.
The $CUTO token presale has raised over $800,000 so far. This traction doesn’t look like it’s going to slow down anytime soon.
CUTO Attracts Massive Investors Inflow
Bitcoin (BTC) and TRON (TRX) have experienced contrasting fates recently. The Bitcoin price is touching new highs, and TRX is still deep in bullish waters with TRON’s recent integration.
The Cutoshi project is attracting investor interest with its presale and CUTO farming features that let users earn while having fun. The new meme coin could potentially deliver bigger gains than other top meme coins.
For more information on the Cutoshi (CUTO) Presale:
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https://twitter.com/CutoshiToken
Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings.
Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets.
Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone.
The regulatory environment surrounding cryptocurrencies is evolving and varies across jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations in your country or region before engaging with Custoshi.
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