Bitrue Announces XRP, BTC, ETH Rewards for Traders

A cryptocurrency exchange based in Singapore has launched a promotion for its holders, offering them a chance to win 5,000 TIA by making a minimum deposit of $100 in BTC, ETH, USDT, or USDC.

TIA is the native cryptocurrency of Celestia, a modular blockchain network that allows users to deploy their own blockchains with ease and minimal costs.

The promotion runs from October 17, 2023, at 10:00 a.m. (UTC) to October 24, 2023, at 10:00 a.m. (UTC).

Investor sentiment in the crypto market appears to be improving, with reported inflows into digital asset investment products for three consecutive weeks, despite a trading volume that is 27% below the 2023 average.

In the last week alone, there was a total of $16 million in inflows, bringing the year-to-date total to $260 million. Additionally, short-Bitcoin saw inflows of $1.7 million during the same period. XRP also continued its positive trend with $0.42 million in inflows, marking the 25th consecutive week of inflows for the asset. This is particularly notable given the ongoing support from the community following the SEC appeal request denial by Judge Torres.

Despite the recent launch of a futures-based ETF, interest from investors has been tepid, with outflows of $7.5 million last week offsetting much of the prior week’s gains.

Meanwhile, several major financial institutions are seeking to introduce spot ETFs in the United States, with potential approvals anticipated by March 2024 at the latest. CryptoQuant, an on-chain analytics firm, has forecasted that the launch of a spot Bitcoin ETF could inject up to $1 trillion into the cryptocurrency market cap.

As of now, XRP has dipped 0.39% in the last 24 hours to $0.49, while Bitcoin has decreased by 0.30%, trading at $28,401, and Ethereum is down 0.15% to $1,583.