Discover the latest updates in the world of cryptocurrencies with CoinChapter.com, now available on Google News. Today’s highlights include a staggering $621 million outflow from Bitcoin investment products and TON’s TVL skyrocketing to $609.78 million.
According to a report by CoinShares, Bitcoin investment products faced significant outflows totaling $621 million, largely driven by BTC’s losses. This marks the largest outflow since March 22, with Grayscale’s GBTC suffering losses of $273 million.
The market’s volatility was influenced by mixed economic signals from the U.S., with the Consumer Price Index data for May exceeding expectations. The Federal Reserve’s decision to maintain its benchmark rate range at 5.25%-5.50% dampened investor sentiment, resulting in Bitcoin dropping to a four-week low of $65,100.
In other news, the total value locked (TVL) of The Open Network (TON) blockchain surged to $609.78 million, surpassing $300 million in just three weeks. TON’s integration with Telegram, boasting over 900 million users, played a key role in its growth.
Additionally, U.S.-listed Bitcoin mining companies achieved a record market capitalization of $22.8 billion on June 15, with Core Scientific leading with a 117% gain. The positive investor sentiment was fueled by Core Scientific’s partnership with artificial intelligence firm CoreWeave.
Malaysia launched “Ops Token” to combat tax revenue leakage from cryptocurrency trading, targeting entities that failed to report their activities properly. The Inland Revenue Board emphasized the importance of declaring crypto taxes promptly.
Looking ahead, spot Ether ETFs are expected to start trading by July 2, as predicted by Bloomberg ETF analyst Eric Balchunas. The SEC’s staff comments on the ETF applicants’ S-1 applications were positive, raising hopes for the ETFs to be declared effective in the following week.
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