Altcoins, NFTs Lure Risk-On Buyers: Crypto Daybook Americas
The post Altcoins, NFTs Lure Risk-On Buyers: Crypto Daybook Americas appeared on BitcoinEthereumNews.com. By Francisco Rodrigues (All times ET unless indicated otherwise) The government's announcements of trade agreements with countries including Indonesia and Japan “raised hopes that the U.S. might be about to reach deals with other countries that avoid the higher tariffs,” Deutsche Bank analysts wrote in a note reported on by Reuters. That optimism has allowed investors to move into riskier assets, with equity index futures rising and the price of gold, a risk-off haven, falling. The dynamic is echoed in crypto markets. The CoinDesk 20 (CD20) index of the largest, most liquid assets has dropped 0.5% in the past 24 hours, while the CoinDesk Memecoin (CDMEME) index is up 2%. Bitcoin (BTC) is down around 0.4% at $118,000 and spot ETFs offering exposure to the cryptocurrency ended a 12-day, $6.6 billion inflow streak on Monday, registering nearly $200 million in outflows over the past two days. But bitcoin doesn’t tell the full story, as allocations have been floating to riskier bets. “We’re seeing a clear shift in momentum across the crypto market, with strong capital rotation away from bitcoin and into altcoins,” Bitpanda deputy CEO Lukas Enzerdorfer-Konrad said in an emailed statement. “The broad ecosystem is clearly healthy and there is more for investors to explore than just BTC and ETH.” Ether ETFs, benefiting from the GENIUS Act’s passage into law, are still drawing in capital. Week-to-date, they’ve brought in $830 million, bringing the month’s total net inflow to $4.1 billion, according to SoSoValue data. Risk appetite also revived the NFT space, which has seen a massive 35.6% rise in its market capitalization this week. The increase comes after a prolonged bear market that saw sales volumes plateau and several NFT marketplaces shut down or pivot to token trading. “Whether this marks the start of a sustained altcoin season remains…
The post Altcoins, NFTs Lure Risk-On Buyers: Crypto Daybook Americas appeared on BitcoinEthereumNews.com.
By Francisco Rodrigues (All times ET unless indicated otherwise) The government's announcements of trade agreements with countries including Indonesia and Japan “raised hopes that the U.S. might be about to reach deals with other countries that avoid the higher tariffs,” Deutsche Bank analysts wrote in a note reported on by Reuters. That optimism has allowed investors to move into riskier assets, with equity index futures rising and the price of gold, a risk-off haven, falling. The dynamic is echoed in crypto markets. The CoinDesk 20 (CD20) index of the largest, most liquid assets has dropped 0.5% in the past 24 hours, while the CoinDesk Memecoin (CDMEME) index is up 2%. Bitcoin (BTC) is down around 0.4% at $118,000 and spot ETFs offering exposure to the cryptocurrency ended a 12-day, $6.6 billion inflow streak on Monday, registering nearly $200 million in outflows over the past two days. But bitcoin doesn’t tell the full story, as allocations have been floating to riskier bets. “We’re seeing a clear shift in momentum across the crypto market, with strong capital rotation away from bitcoin and into altcoins,” Bitpanda deputy CEO Lukas Enzerdorfer-Konrad said in an emailed statement. “The broad ecosystem is clearly healthy and there is more for investors to explore than just BTC and ETH.” Ether ETFs, benefiting from the GENIUS Act’s passage into law, are still drawing in capital. Week-to-date, they’ve brought in $830 million, bringing the month’s total net inflow to $4.1 billion, according to SoSoValue data. Risk appetite also revived the NFT space, which has seen a massive 35.6% rise in its market capitalization this week. The increase comes after a prolonged bear market that saw sales volumes plateau and several NFT marketplaces shut down or pivot to token trading. “Whether this marks the start of a sustained altcoin season remains…
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