Bitrue Announces XRP, BTC, ETH Rewards for Traders

A cryptocurrency exchange based in Singapore has launched a promotional event for token holders. Participants have the opportunity to win 5,000 TIA by depositing a minimum amount of $100 in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or USD Coin (USDC).

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

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 cryptocurrency market appears to be improving, with reports indicating three consecutive weeks of inflows into digital asset investment products, despite a significant 27% decline in trading volume compared to the average for 2023.

Last week, these products saw $16 million in inflows, bringing the total for the year to $260 million. Short-Bitcoin positions also experienced inflows of $1.7 million over the same period. Additionally, XRP recorded inflows of $0.42 million in the past week, marking the 25th consecutive week of inflows. This trend reflects the community’s ongoing support amid a recent ruling where Judge Torres denied a request by the SEC for an appeal.

Despite the recent launch of futures-based exchange-traded funds (ETFs), interest from investors appears muted as outflows of $7.5 million last week offset much of the previous week’s inflows.

Several major financial institutions have submitted applications to launch spot ETFs in the United States, with potential approvals expected by March 2024 at the latest. An analytics firm has projected that the introduction of a spot Bitcoin ETF could potentially add up to $1 trillion to the overall cryptocurrency market capitalization.

As of the latest updates, XRP was down 0.39% over the past 24 hours, trading at $0.49, while Bitcoin decreased by 0.30% to $28,401, and Ethereum saw a slight decline of 0.15% to $1,583.