A recent analysis shed light on another correlation between the world’s largest cryptocurrency and stablecoin by market capitalization. Blockchain analytics provider Glassnode reported a “strong negative correlation” between Bitcoin’s and USDt’s activity over the last two years. In a Wednesday X post, Glassnode shared a comparison between Bitcoin’s (BTC) price and net flows of USDt (USDT) to exchanges starting in December 2023. According to the analysis, net outflows of USDT from exchanges coincided with increases in the price of BTC. “During euphoric phases, USDT typically flows out at –$100M to –$200M/day as investors lock in profits,” said Glassnode. “At the $126K peak [in October], net outflows reached >$220M (30D-SMA); A clear profit-taking signal now easing as flows turn positive again.” Read more
Confectionery manufacturer ETI European Food Industries, part of Türkiye’s ETI Group, posted RON294.6 million (EUR59.2 million) revenue in 2024, up 10.7% from 2023’s approximately RON266 million (EUR53.8 million), according to ZF calculations based on Finance Ministry data.
On-chain money market funds have grown nearly tenfold since 2023, but the Bank for International Settlements warns their adoption brings new liquidity and contagion risks. Tokenized money market funds are emerging as one of the most important yield-bearing assets on public blockchains, offering money-market returns and securities-level protections that stablecoins can’t provide, according to a new report from the Bank for International Settlements (BIS). According to the bulletin, tokenized money market funds now hold nearly $9 billion in assets, up from about $770 million at the end of 2023. The BIS warned that as these tokenized Treasury portfolios become a key source of collateral in the crypto ecosystem, they also bring new operational and liquidity risks. Tokenized money market funds are blockchain-based representations of traditional money market portfolios, providing investors with onchain access to short-term, interest-bearing assets, such as US Treasurys. Read more