ETHEREUM AND BITCOIN, RECORDED HIGHEST SINGLE DAY GAIN AFTER CRYTO CRASHED LAST WEEK

Digital-asset investment funds suffered outflows for a second straight week, a sign profit taking is offsetting fresh money amid the crypto sell-off. Investors pulled a net $97 million from cryptocurrency-related investment funds during the week ending May 21, or 0.2% of total assets under management. Outflows represent a net change in sentiment following increasing regulatory scrutiny and concerns over bitcoin’s environmental credentials. Last week saw lower outflows for bitcoin with outflows of $111 million versus $115 million the previous week.

Investors continued to diversify into altcoin investment products last week totaling $27 million in inflows, led by cardano. The rotation into altcoins could “represent investors actively choosing proof-of-stake coins based on environmental considerations.” On May 12, Tesla announced that it was suspending bitcoin payments over environmental concerns, accelerating a move down in bitcoin prices, as result the cryptocurrency is down about 34% month to date. Ethereum too saw minor outflows of $12.6 million last week following a long run of record-breaking inflows.

Ethereum

Ethereum was trading at $2,900 by 12.10IST (06.40 GMT) 26/05/2021. On Monday, it was up 30.45% on the day. It was the largest one-day percentage gain ever and today it continues its rise, currently nearly 10% up. Ethereum had traded in a range of $2,080.87 to $2900 in the previous seventy two hours.

The move upwards pushed Ethereum's market cap up to $328 B, or 18.20% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $479.29B.

The move downwards pushed Ethereum's market cap up to $287.94B, or 18.20% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $479.29B.

Over the past seven days, Ethereum has seen a drop in value, as it lost 24.46%. The volume of Ethereum traded in the twenty-four hours to time of writing was $58.21B or 25.52% of the total volume of all cryptocurrencies. It has traded in a range of $1,739.9122 to $3,558.5718 in last week. At its current price, Ethereum is still down nearly 23% from its all-time high of $4,366.10 set on Wednesday, May 12, 2021.

Bitcoin

Bitcoin was trading at $40,663.1 by 12.10IST (06.40 GMT) 26/05/2021 .On Monday, it was up 20.29% on the day. It was the largest one-day percentage gain since Thursday, December 7, 2017.Rising further nearly 5% and poised to extend its gain. Bitcoin had traded in a range of $34,474.6 to $40,500 in the previous seventy two hours.

The move upwards pushed Bitcoin's market cap up to $740.9B, or 44.26% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $1,184.9B.

Over the past seven days, Bitcoin has seen a drop in value, as it lost 10.53%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $69.4B or 32.74% of the total volume of all cryptocurrencies. It has traded in a range of $30,261.7129 to $45,770.9180 in the past 7 days. At its current price, Bitcoin is still down nearly 34% from its all-time high of $64,778.04 set on Wednesday, April 14, 2021.