Retail investors have not entered an euphoria phase that will see them FOMO and stack the top coin to send its price higher than it is.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
4 mins read
Currently, retail investors in the crypto market are not making moves that suggest euphoria, despite the price of Bitcoin BTC $101 707 24h volatility: 3.0% Market cap: $2.02 T Vol. 24h: $39.42 B hitting $105,000. Blockchain analytics platform CryptoQuant has studied the market trend over the last eight days and drew this inference from the available data.
Retail demand among investors is often measured by on-chain movements of up to $10,000. Recently, CryptoQuant identified that this metric has fallen by approximately 2.45%, suggesting that smaller investors have yet to reach a euphoric dynamic in the current market.
There is a possibility that these participants are leveraging other exposure vehicles, such as Exchange-Traded Funds (ETFs) and Bitcoin Treasury Companies, especially with the hype surrounding these investment alternatives. The on-chain structure would usually jointly respond to these flows. However, the euphoric market does not follow the expected structure.
A structurally euphoric market would generally support the possibility of new upward impulses, should sustainable buying pressure exist. CryptoQuant’s post noted that this is dependent on several factors external to Bitcoin, particularly those with the capacity to impact short-term sentiment and push large investors to the sidelines.
BTC Retail Investor Demand Change | Source: CryptoQuant
While it is being considered that retail investors may have turned to ETFs, it is worth noting that the ETF niche has not been immune to the absence of investor euphoria. An earlier Coinspeaker report highlighted that Bitcoin ETFs experienced a sharp reversal in investor sentiment between May 29 and June 2.
About $1.21 billion in combined net outflow was recorded within this period. Per SoSoValue data, Bitcoin ETFs recorded outflows of $358.65 million on May 29, then $616.22 million on May 30, and $267.5 million on June 2. This was the first time since mid-March that these funds have lost over $1 billion in just a few trading sessions.
Despite this outlook, several other companies are still buying Bitcoin regardless of the coin’s price movement. On June 3, Paris-based cryptocurrency firm Blockchain Group added $68 million worth of Bitcoin to its holdings. The fund covered 624 BTC, raising the firm’s holdings to 1,471 BTC.
At Bitcoin current price of $105,523.91, Blockchain Group has amassed a total of $155.2 million worth of the leading crypto asset.
Strategy recently purchased 705 BTC for $75 million as general corporate Bitcoin bets intensified. As of June 1, Strategy held 580,955 BTC in its investment portfolio.
Although Bitcoin has caught the eye of most crypto investors, Solaxy is being touted as the next evolution in the blockchain industry. The project team believes it holds the potential to unlock the full potential of the Solana ecosystem. It is designed to offer unmatched scalability and a future-proof network to redefine Solana’s capabilities.
The Solaxy project is undergoing a Presale, where it has raised $48 million. It aims to provide Solana-based tokens with increased scalability, lower fees, and more reliable transaction settlement.
During its Presale, which will end in approximately 12 days, Solaxy offers SOLX tokens at a discounted rate. Interested investors can participate in the new crypto presale and make payments in ETH, USDT, BNB, and SOL.
Current Presale Stats:
Current price: $0.001744
Amount raised so far: $48 million
Ticker: SOLX
Date launched: December 2024
Chain: Ethereum and Solana
Total amount of tokens staked: 9,958,497,116 SOLX
Once launched, Solaxy would offer high-stakes returns to its holders. With a 116% staking yield and a focus on scalability through hybrid-chain infrastructure, it is more than just another presale. It is a glimpse into the next wave of blockchain innovation.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
