Bitrue Announces XRP, BTC, ETH Rewards for Traders

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

TIA is the upcoming native cryptocurrency of Celestia, a modular blockchain network designed to facilitate easy deployment of blockchains with minimal overhead.

The promotional event will run from October 17, 2023, at 10:00 a.m. (UTC) to October 24, 2023, at 10:00 a.m. (UTC).

Investor sentiment in the cryptocurrency market shows signs of improvement, with recent reports indicating three successive weeks of inflows into digital asset investment products, even though trading volume remains 27% below the 2023 average.

Last week, digital asset investment products experienced inflows of $16 million, bringing the total for the year to $260 million. Additionally, short-Bitcoin products saw inflows of $1.7 million during the same period.

XRP also attracted inflows of $0.42 million over the past week, marking the 25th consecutive week of positive inflows. These numbers reflect continuous community support following the SEC appeal request that was denied by Judge Torres.

However, a recently launched futures-based ETF has experienced limited interest from investors, recording outflows of $7.5 million last week, which offset much of the previous week’s gains.

Several major financial institutions have submitted applications to launch spot ETFs in the United States, with potential approvals anticipated by March 2024 at the latest.

CryptoQuant, an on-chain analytics firm, predicts that the introduction of a spot Bitcoin ETF could potentially add up to $1 trillion to the cryptocurrency market capitalization.

At the time of reporting, XRP had decreased by 0.39% in the last 24 hours, trading at $0.49; Bitcoin fell by 0.30% to $28,401, while Ethereum slipped 0.15% to $1,583.