The supply of WBTC has decreased by 1,600 since the announcement of self-custody
Tom Wan, a strategy analyst at 21.co, stated on platform X that since the announcement of self-hosting, the supply of WBTC has decreased by 1,600 coins ($96 million). Institutions such as Galaxy, FalconX, Tokka Labs, Coinlist, Abra and Crypto dot com have all redeemed WBTC. This indicates that institutions are looking for a more reliable BTC wrapper.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury’s “buy bonds to suppress yields” policy backfires against the dollar? Citi significantly lowers its three-month dollar forecast, says it’s not advisable to go long before the midterm elections
As the market gradually digests expectations of a more dovish stance from the Federal Reserve, factors related to the midterm elections, and news that the U.S. Treasury may increase bond buybacks, Citi's FX strategy team has recently turned bearish on the short-term outlook for the U.S. dollar.
WTI consolidates around $86.00; bulls potential intact amid US-Iran impasse
Japan's core CPI accelerated for the second consecutive month in July, with the market betting an 80% chance that the Bank of Japan will raise interest rates in September
A key inflation indicator in Japan has accelerated for the second consecutive month, increasing the likelihood that the Bank of Japan may raise interest rates again soon. Meanwhile, the market is speculating that the central bank could take action as early as September.
Neonc Technologies CEO Thomas C. Chen acquires $70,010 of common shares via IRA
Crypto prices
More
