We all know the cryptocurrency market is led by bitcoin so in that case the other cryptocurrency has spent the last seven days in tranquility because bitcoin and ether has spent the last days in trading -0.60% for bitcoin and -4% for ether according to crypto data aggregator COIN360, the largest movers are binances BNB which added 6.89% over the same period while dogecoin is down by 8%
The price of bitcoin is still hovering 33,000 - 34,000 though onchain metrics is becoming more bullish, there are reports that bitcoin in exchanges are now seeing outflows tweeted by data and intelligence provide glassnode.
According to 40,000 BTC which is $1.37 billion have been taken out of exchanges in the last weeks reversing all the inflows when the price was at it's all time, the outflows of Btc out of exchanges means that traders aren't ready to sell their bitcoin in the coming future
Terra(luna) a native coin of namesake protocol for issuing fiat pegged stablecoins is up 36.00%, the token is looking strong now which is a surprise because it saw it's footing in may, terraform labs which is luna creator committed about $70,million to boost the reserves to it's savings protocol anchor, LUNA the token market has gone up from about $300 million to about $3billion since january.
In the coming days all eyes will be on the largest release of shares which is Grayscale bitcoin trust (GBTC), which is bound to take place on july17 so 40,000 shares will get unlocked in coming weeks .
The trust which was set up as a private placement where disqualified shares directly from grayscale then it is required for investors to hold their shares for six month before selling them, it has long wait for investors and instution that want to come close to bitcoin.
