Institutional Money Flows Out Of BTC, Into ETH – May 18

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $45,487

Bitcoin price has stablized above the $45,000 mark overnight, allowing holders to breathe after a turbulent beginning to the week.

Top-20 altcoins have also had a better 24 hours of price action, as Ethereum remains unchanged, XRP gains 10% and Polygon rockets into the top 20 with a 31% gain.

Top Stories for May 18, 2021 πŸ”₯

πŸ‘‰ Institutional Money Flows Out Of BTC, Into ETH

A weekly report from Coinshares has shown that Bitcoin funds have had their largest outflow in the history of the report, with almost $100 million exiting Bitcoin investment products last week.

Ethereum investment products, however, have picked up the slack with $27 million of inflows for the week. Other altcoin funds have attracted an additional $21 million of inflows, led by Cardano (ADA) and Polkadot (DOT).

πŸ‘‰ Fox To Launch NFT Company And Blockchain-Based Series

Renowned media company Fox has announced that it will be launching an NFT company and a blockchain-based animated TV series.

The series is by the creator or Rick and Morty, Dan Harmon, and will be produced by Bento Box entertainment – a subsidiary of Fox.

An NFT marketplace will be created for the show, offering tokens representing characters, background art and GIFs.

πŸ‘‰ Ethereum Transaction Revenue On Route To Beat Monthly Record

Ethereum’s transaction revenue (measured in dollars) is set to beat its monthly record of $722 million today, according to data provider Coin Metrics.

This month’s revenue has benefited from high transaction volumes and a rapid increase in the price of Ether (ETH), resulting in record-setting figures – even with almost two weeks left in the month.