Early Signals by WOO X: Bitcoin Hits Key Support, Artrade NFT Marketplace Surges

VICTORIA, Seychelles, June 12, 2024 (GLOBE NEWSWIRE) -- WOO X Research, the analysis team of the global centralized crypto futures and spot trading platform WOO X, is pleased to share its latest market insights on the current trends in the crypto landscape.

Market Overview:

Bitcoin's price dropped to a key support level at $66,051 before starting to fluctuate. The drop from $72,000 has met the minimum decline requirement, but a trend reversal needs to be further observed, particularly whether the $68,500 level can be effectively broken. If it continues to fall below $65,000, the adjustment cycle will be prolonged. This week, the news is generally positive, and maintaining a strategy of "watch more, move less" is optimal.

BTC Spot ETF:

As of June 11, the latest data shows that the total net inflow of BTC spot ETFs is $15.42 billion, with a single-day net outflow of $200 million, and a single-day trading volume exceeding $853 million. The net asset value of ETFs accounts for 4.47% of BTC's market value. Key observations include:

GBTC: Single-day net outflow of $121 million, cumulative net outflow of $18 billion, single-day trading volume of $326 million, and current asset value of $19.01 billion.
FBTC: Single-day net outflow of $7 million, cumulative net inflow of $10 billion, single-day trading volume of $277 million, and current asset value of $11.68 billion.
ARKB: Single-day net outflow of $56 million, cumulative net inflow of $3 billion, single-day trading volume of $119 million, and current asset value of $3.24 billion.

Significant Daily Gainers:

BZZ (Recent Strong Performance): Swarm, developed by the Ethereum Foundation, allows mining pools to provide storage, bandwidth, and computing power resources to support Ethereum network-based applications. The team aims to create a peer-to-peer storage and service solution that is always on, fault-free, and censorship-resistant. Swarm will hold its 2024 summit on June 20-21, discussing concepts such as decentralized storage, privacy, data sovereignty, and AI. Recently, the BZZ token has performed strongly, rising 85% from the bottom.
ATR (Single-Day Increase of 20%): Artrade is an NFT marketplace for real-world art assets. Artrade transforms physical artworks into on-chain assets and digitizes physical ownership. On May 26, it tokenized a Picasso painting worth $200,000 for sale. Participants in the sale received ATR airdrops, with the actual artwork held by Artrade. Recently, the trading volume of ATR tokens has increased.
CTK (Single-Day Increase of 10%): ShentuChain, established in 2019, is dedicated to enhancing the security and trustworthiness of decentralized technologies. Its products include the vulnerability bounty platform OpenBounty and the Cosmos ecosystem's inscription trading market, both launched last year. OpenBounty is a decentralized vulnerability bounty platform that connects Web3 projects with white-hat hackers, ensuring mutual benefits of security and rewards. Projects on OpenBounty receive an additional 10%-15% CTK bonuses. On June 10, it announced a collaboration with Maple Finance to provide rewards of up to $500,000. The CTK token has seen frequent fluctuations recently.

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About WOO X

WOO X is a global centralized crypto futures and spot trading platform offering best-in-class liquidity and price execution. WOO X has an average daily volume exceeding $600 million and is home to hundreds of thousands of traders worldwide. WOO X traders benefit from radical transparency through our industry-first live Proof of Reserves & liabilities dashboard and the company's mission to maintain the trust of its growing community of traders.

Disclaimer

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.