According to CoinGecko data, Bitcoin (BTC) gained 4% in value on a daily basis and is changing hands above 50 thousand dollars at the time of writing.
Bitcoin price passed the 50 thousand dollar threshold for the first time after 2021, thanks to the demand for spot exchange traded funds (ETF).
James Butterfill, CoinShares Research Manager, said: “Although the launch of Bitcoin ETFs was disappointing, there is now room for newly established funds. money to flow We’re seeing that continue, and I think that’s going to happen to Bitcoin as a result. There is a much more organic demand We see.” said.
According to CoinShares data, newly established funds emerged from Grayscale Bitcoin Trust. from 6 billion dollars despite a lot of money net worth of 3 billion dollars among themselves received money.
The increase in Bitcoin price had a positive impact on Bitcoin-related cryptocurrency projects. According to CoinGecko data Total market value of BRC-20 coinswithin 24 hours Growing 12% to 2.88 billion dollars output.
In the last seven days ORDI 29%, SATS 13.8%, TRAC 8% Stacks (STX), a smart contract layer designed for Bitcoin, more than 35% showed an increase.
Some projects in the BRC-20 category, such as Multibit (MUBI), Ordiswap (ORDS), Comsats (CSAS) and INSC, operate on a daily basis. gained at least 16% in value.