Bitcoin has renewed its highs in three weeks.
Capital outflows from cryptocurrencies were the highest in three months. Bitcoin's hash rate renewed its record peak, pushing its halving date to Q4 2023.
Solana jumped on the rise of NFTs issued on the blockchain. Bitcoin rose 3.6% on Monday, ending the day near $22,400 amid rising stock indexes and a weakening U.S. dollar. BTC tested highs in more than three weeks near $22,500.
According to TradingView, the correlation between bitcoin and the S&P 500 index began to strengthen again last week. BTC's reliance on the U.S. stock market fell to a one-year low in August.
Solana (+7.8%) showed the highest daily gain in the top 10. Despite the market decline, the number of non-interchangeable tokens (NFTs) issued on Solana's blockchain rose sharply, reaching 312,000. In parallel, the trading volume of collectible assets on the network jumped as well.
According to CoinShares, net capital outflows from cryptocurrencies last week were $63 million, a figure that was the highest in the past 12 weeks. Meanwhile, outflows from Ethereum funds accounted for $62 million and bitcoin funds for $13 million. Investments in funds that allow shorts on bitcoin rose by $11 million.
Institutional investors have maintained interest in blockchain and cryptocurrencies despite the bear market, according to State Street, the second oldest bank in the United States.
The bitcoin network's hash rate updated to an all-time high of 281.79 million terahash, shifting the projected next halving date from May 2024 to Q4 2023.
Bank of America has allowed Ethereum's institutional adoption to rise following The Merge, which will take place in the middle of this week. In anticipation, the Chicago Mercantile Exchange (CME) launched options on Ethereum.
Search giant Google hasn't stayed away from Ethereum's imminent transition to the PoS algorithm - the company has launched a countdown timer to the merger and created a special "doodle."
According to a Harris Poll, cryptocurrency investors are much more likely than traditional investors to hope to become billionaires - this was the answer of 70% of respondents with investments in cryptocurrencies.
USDT issuer, Tether Operations Limited, has issued a steblecoin on the NEAR network. The NEAR Protocol platform supports open-source smart contracts, has high bandwidth and is designed to create decentralized applications.
On September 19, cryptocurrency exchange Huobi will delist seven anonymous cryptocurrencies, including Dash (DSH), Monero (XMR), Zcash (ZEC). This is due to increased pressure from regulators.