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Crypto

Bitcoin ETP outflows dent sentiment, long-term holders boost supply

Crypto exchange-traded products (ETPs) recorded $1.23 billion of net outflows last week, but bitcoin holdings by long-term holders hit a record, a Bitwise report said. More than $1.03 billion left bitcoin investment products, led by spot bitcoin ETFs, ending a six-week inflow streak. Sentiment indicators fell back to neutral and fear. On-chain data showed 14.85 million bitcoin held in wallets for more than 155 days, or 74.3 percent of circulating supply.

Crypto

Tether files trademark applications for name and logo in South Korea

Tether, the world’s largest stablecoin issuer, has filed multiple trademark applications in South Korea, including for its corporate brand and gold-linked stablecoin Tether Gold (XAUT). The move comes as discussions advance on tightening stablecoin rules, including possible requirements for foreign issuers to set up local branches. Rival Circle has also stepped up outreach in Korea and expanded platform partnerships. The domestic market is seen as large, though the regulatory framework is still unsettled.

Crypto

Zcash extends 'own bull market' with chart target at $1,091

Privacy coin Zcash has risen 18 percent over the past three days, moving against a broader crypto market downturn. A cup-and-handle pattern on the ZEC/USD chart suggests further gains, with a potential rise to $1,091 in June or July if the pattern completes. The target overlaps a Fibonacci 1.618 extension. Privacy coins have outperformed the wider market over the past month, with Monero and Dash also rising.