PlayIconNav
BTC
$57,815.19+1.65%
ETH
$2,390.48+2.08%
BNB
$521.96+0.67%
SOL
$136.33+1.58%
XRP
$0.54113299+0.72%
DOGE
$0.10312467-0.57%
CD20
$1,839.21+1.33%
TON
$5.44+5.60%
TRX
$0.15338567-0.73%
ADA
$0.34336681-0.36%
AVAX
$24.39+1.53%
WBTC
$57,768.76+1.62%
Ad
Markets

Ether Beats CD20 as ETH ETFs Post Positive Inflows, DEX Tokens Rise

Many of the largest decentralized exchanges (DEX) tokens posted gains on Tuesday.

By Sam Reynolds
AccessTimeIconAug 13, 2024 at 6:47 a.m. UTC
Ether ETF (Rob Mitchell/CoinDesk)
Ether ETF (Rob Mitchell/CoinDesk)
  • Ether pulled ahead of bitcoin and the CD20 during the Tuesday trading day in Asia as ETH ETFs reversed their outflow trends.
  • Many DEX tokens were also up as some of the largest protocols showed positive trends in fee generation.

Ether (ETH) is up 4%, beating the CoinDesk 20 (CD20) index as inflow into the Ethereum exchange-traded funds (ETFs) picks up and the many of the largest decentralized exchanges (DEXs) show signs of growth.

Data from SoSoValue shows that daily net inflow into the U.S.-listed spot ether ETFs his $4.93 million Monday, with Grayscale's two funds posting no flows, while Fidelity's FETH hit $3.98 million in inflow, Franklin Templeton's EZET posting $1 million in inflow, and Bitwise's ETHW clocking $2.86 million in positive flow.

(SoSoValue)

VanEck's ETHV was the only one that posted outflow at $2.92 million.

Meanwhile, bitcoin ETFs posted a collective daily inflow of $27.87 million. Of the lot, Grayscale's GBTC had an outflow of $11.7 million, while Bitwise's BITB had an outflow of $17 million.

CoinDesk data shows that bitcoin (BTC) was trading above $59,200 during the East Asia business day, up 1.25%.

Many of the largest DEX tokens are up, helping ETH outperform BTC during Tuesday trading day. Market data shows that Uniswap's UNI is up 3.8%, DYDX is up 5.5% and Gnosis's GNO is 5.3%.

Data from DeFi Llama shows that Ethereum fees hit $40.46 million for the first half of August, while Uniswap fees hit $23.64 million for the same period, putting it on track to beat July's $47.4 million in fees, and possibly challenge June's $54 million in total fees.

Rounding out the trading day, one of the largest gains in tokens is Canto, up 41% according to CoinGecko data. The blockchain remains stuck, with data from block explorer Cantoscan showing that the last transaction was processed 16 hours ago. A fix was promised by the team for Monday, CoinDesk previously reported, but doesn't appear to have been implemented.

Edited by Parikshit Mishra.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.