Crypto News: Bitcoin (BTC) And Ethereum (ETH) See Huge Inflow On Exchanges, RenQ Finance (RENQ) Continues Its Momentum To Get To The Last Stage Of Its Presale

In this article, we will take a look at some of the latest happenings in the crypto world, including the inflow of Bitcoin and Ethereum on exchanges and the ongoing momentum of RenQ Finance.

Bitcoin (BTC) and Ethereum (ETH) see huge inflow on Exchanges

Whale distribution is on the rise as exchanges witness a surge in inflows within the past. This trend has emerged amid a market-wide modest rally that many assets including Bitcoin (BTC) and Ethereum (ETH) have been experiencing since the start of the year.

Glassnode, a blockchain intelligence provider, reports an increase in exchange netflows, as investors sent $1.5 billion worth of BTC, ETH, and USDT into exchanges rcently. Within the same time frame, $1.39 billion worth of these assets left exchanges, leading to an exchange netflow of over $115 million in 24 hours.

ETH saw the highest net flow, with $56.1 million recorded, while USDT and BTC witnessed respective netflows of $40.4 million and $19.1 million. However, this metric has raised concerns among supporters as investors usually send risk assets to exchanges with the intention of selling them off.

In addition, the CryptoQuant BTC Exchange Reserve indicator reveals a bearish increase in BTC balances on crypto exchanges. An increase in exchange reserves is a signal of higher selling pressure on investors. This surge materialized barely 24 hours after reports revealed that addresses holding at least 1 BTC reached an all-time high (ATH) of 979,163.

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RenQ Finance continues its momentum to get to the last stage of its Presale

RenQ Finance is a promising new DeFi project that has been making waves in the crypto world. The project aims to create a decentralized autonomous organization (DAO) with trustless governance that is functional. In its ongoing presale, RenQ Finance has raised over $15.5 million so far, which is a testament to the high level of interest in this project.

As of writing, RenQ Finance is selling at $0.055 per token with a gain of 150% so far this year. With the ongoing RenQ Finance presale stage coming to an end, experts predict RenQ Finance to give 25x gains or more when it launches on its mainnet. RenQ Finance has also formed strong partnerships with other blockchain projects and service providers, which is a good sign for its future prospects.

The RenQ Finance platform will enable users to trade, lend, borrow, and earn interest on digital assets. The platform will have a native token, RENQ, which will be used to pay transaction fees and as collateral for loans. The team behind RenQ Finance is committed to creating a decentralized and transparent platform that will provide users with a fair and secure environment to conduct their financial activities.

Conclusion

The crypto world is always full of exciting developments, and we have highlighted some of the latest happenings in this article. The inflow of Bitcoin and Ethereum onto exchanges could indicate that traders are preparing to make a move in the market, while RenQ Finance's ongoing momentum is a testament to the high level of interest in this promising new DeFi project.

As always, investors should exercise caution and conduct their research before making any investment decisions.

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Visit the links below for more information about RenQ Finance (RENQ):

Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf