tl;dr
Ethereum experienced a reversal in its five-week decline with $87 million in ETH-based product inflows, marking the first measurable inflow since early August. The European asset manager weekly report revealed a total of $1.2 billion inflows into digital asset investment products over three consecut...
Ethereum's five-week decline reversed with $87 million inflow in ETH-based products, driven by expectations of dovish US monetary policy and positive price momentum.
Digital asset investment products saw third consecutive week of inflows, increasing total assets under management by 6.2%.
Bitcoin attracted $1 billion in weekly inflows, while short-BTC investment products saw $8.8 million inflows; Solana witnessed $4.8 million outflows.
Altcoin sentiment was divided, with Litecoin and XRP receiving inflows, while Chainlink, Cardano, and BNB recorded varied inflows and outflows.
Regional sentiment varied, with the US attracting $1.2 billion in inflows, Switzerland with $84 million inflows, and Germany and Brazil posting significant outflows.
Ethereum experienced a reversal in its five-week decline with $87 million in ETH-based product inflows, marking the first measurable inflow since early August. The European asset manager weekly report revealed a total of $1.2 billion inflows into digital asset investment products over three consecutive weeks, driven by expectations of a dovish US monetary policy. Total assets under management increased by 6.2%, buoyed by the approval of options for certain US-based investment products. Bitcoin attracted $1 billion in weekly inflows, while Solana saw $4.8 million in outflows. Altcoin sentiment varied, with Litecoin and XRP receiving inflows, while BNB recorded outflows. The US attracted $1.2 billion in inflows, Switzerland saw $84 million, and Canada and Australia witnessed minor inflows, while Germany, Brazil, Sweden, and Hong Kong reported outflows.
Ethereum’s five-week decline has been reversed as ETH-based product inflows jumped to $87 million during the previous week. According to Coinshares, this was the first measurable inflow since early August, and it comes amidst a significant revival across digital asset investment products. The latest edition of the European asset manager weekly report revealed that digital asset investment products experienced inflows for the third consecutive week, amounting to a total of $1.2 billion. This surge is likely driven by expectations of a dovish monetary policy in the US and the resulting positive price momentum. As a result, total assets under management (AuM) increased by 6.2% over the past week. The sentiment was further catapulted by the approval of options for certain US-based investment products. However, despite these positive developments, trading volumes did not reflect the same growth and instead suffered a slight decline of 3.1% week-on-week. Bitcoin attracted $1 billion in weekly inflows, which also encouraged $8.8 million worth of inflows into short-BTC investment products. Solana, on the other hand, witnessed $4.8 million in outflows. Coinshares also noted that sentiment was divided among altcoins, with Litecoin and XRP receiving inflows of $2 million and $0.8 million over the past week. During the same period, Chainlink and Cardano settled with $0.4 million and $0.1 million in inflows, respectively. Meanwhile, BNB recorded outflows of $1.2 million. Regional sentiment was mixed, as the US attracted $1.2 billion in inflows, and Switzerland followed with $84 million, its highest since mid-2022. Canada and Australia also witnessed minor weekly inflows of $1 million and $0.6 million, respectively. In contrast, Germany and Brazil posted outflows of $21 million and $3 million. A similar trend was seen across Sweden and Hong Kong which reported $2.5 million and $1 million in outflows over the past week.
More about United States Steel Corporation
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United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing
Sub-Industry: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Market Cap: 8013146000
Current Price: 15.55
Price Change: 0.2
Percentage Change: 2.29%
PE Ratio: 75.31
Dividend Yield: 0.034
Shares Outstanding: 16853000000
Beta: 42.16
EPS: -0.617
Profit Margin: -0.178
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More about Tanzanian Royalty Exploration Corp
Tanzanian Royalty Exploration Corp, Tanzanian Gold Corporation is engaged in the exploration and development of mineral property interests in the United Republic of Tanzania. The company is headquartered in Vancouver, Canada.
Industry: ENERGY & TRANSPORTATION
Focus: GOLD AND SILVER ORES
Market Cap: 109,943,000
Dividend Yield: None
EPS: None
P/E Ratio: 0
Forward P/E: 0.127
PEG Ratio: -0.0306
Volume: 36,723,000
52-week High: 1.38
52-week Low: 2.549
Change from 52-week Low: 0.625
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After conducting a thorough technical analysis, it is evident that the stock has reached a critical support level at $50. If this level holds, we may see a potential bullish reversal, with the next resistance level at $55.
The RSI indicator suggests that the stock is currently oversold, indicating a possible buying opportunity. However, it's essential to monitor the price action for confirmation before entering a position.
Furthermore, the moving average convergence divergence (MACD) indicator has shown a bullish crossover, supporting the potential for a trend reversal.
It's important to note that while the indicators are signaling a potential bullish momentum, market conditions can change rapidly. Caution is advised, and it's crucial to have a risk management strategy in place.