XRP, BTC, ETH Rewards for Traders Announced by Bitrue
Singapore-based crypto exchange offers exciting promotion for holders
Singapore-based crypto exchange Bitrue has recently announced a thrilling promotion for cryptocurrency traders. By depositing a required amount of $100 in BTC, ETH, USDT, or USDC, traders stand a chance to win 5,000 TIA. This promotion aims to reward and incentivize holders, giving them an opportunity to earn additional crypto assets.
Introducing TIA: The Native Crypto Asset of Celestia
TIA is an upcoming token and the native crypto asset of Celestia, a modular blockchain network. Celestia allows anyone to easily deploy their own blockchain with minimal overhead. TIA holds significant potential within this ecosystem, and its distribution through this promotion creates further excitement and interest among traders.
Time Period and Investor Sentiment
The promotion event is scheduled to take place from October 17, 2023, 10:00 a.m. (UTC) to October 24, 2023, 10:00 a.m. (UTC). This limited-time opportunity has sparked renewed interest in the crypto market, with CoinShares reporting three consecutive weeks of inflows for digital asset investment products. Despite a 27% decrease in trading volume compared to the 2023 average, investors continue to show confidence in the crypto market.
Highlights of Inflows and Outflows
- Bitcoin saw $16 million in inflows last week, bringing the year-to-date total to $260 million.
- Short-Bitcoin also experienced $1.7 million in inflows last week.
- XRP had inflows of $0.42 million, marking the 25th consecutive week of inflows.
- A futures-based ETF debut did not attract significant investor interest, with $7.5 million in outflows canceling out prior week inflows.
Spot ETFs on the Horizon
Multiple financial institutions have applied to launch spot ETFs in the United States. Approvals for these ETFs could potentially be granted by March 2024 at the latest. The introduction of a spot Bitcoin ETF is expected to have a profound impact on the cryptocurrency market, potentially adding up to $1 trillion to its overall market capitalization.
Current Market Update
As of writing, XRP is trading at $0.49, reflecting a 0.39% decrease in the previous 24 hours. Bitcoin has fallen 0.30% to $28,401, while Ethereum has experienced a 0.15% decrease, reaching $1,583.
This article provides valuable insights into Bitrue’s latest promotion and the current state of the crypto market. Traders have the opportunity to win significant rewards, while investor sentiment remains positive despite fluctuations in trading volume. The introduction of spot ETFs in the future could revolutionize the market. Stay updated with the latest developments to make informed decisions in the crypto space.
