{"id":25697,"date":"2024-01-18T20:39:29","date_gmt":"2024-01-18T20:39:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sei-sui-rune-slump-as-bitcoin-drops-amid-grayscale-dump\/"},"modified":"2024-01-18T20:39:29","modified_gmt":"2024-01-18T20:39:29","slug":"sei-sui-rune-slump-as-bitcoin-drops-amid-grayscale-dump","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sei-sui-rune-slump-as-bitcoin-drops-amid-grayscale-dump\/","title":{"rendered":"SEI, SUI, RUNE slump as Bitcoin drops amid Grayscale dump"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/btc-etf-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/btc-etf-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/btc-etf-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/01\/btc-etf-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Sei (SEI) Sui (SUI) and THORChain (RUNE) were among biggest decliners on Thursday as Bitcoin and Ethereum struggled.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Declines for BTC came amid ongoing sell-off from Grayscale, which had deposited over $1.7 billion in BTC to Coinbase Prime since January 12.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The crypto market flipped red on Thursday afternoon as <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> fell below $41,500 again. Altcoins were also struggling, with Ethereum below $2,500 as the global crypto market cap shrunk by about 2.4% to $1.71 trillion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Among the biggest losers on the day were Sei (SEI), down 15%; Sui (SUI) down 10%; and THORChain (RUNE), down 13% at the time of writing.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Grayscale dumping BTC amid ETF redemptions<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The crypto downturn came as <a href=\"https:\/\/coinjournal.net\/news\/tag\/grayscale\/\">Grayscal<\/a>e transferred another 9,840 BTC worth $418 million to Coinbase Prime, with the total amount of BTC moved from the GBTC ETF issuer reaching 41,478 BTC. In total, Grayscale has moved over $1.7 billion in BTC to Coinbase Prime since January 12, with these sold as the company handles redemptions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Thursday, Grayscale saw $450 million in outflows. Alex Thorn, head of research at Galaxy noted this outlook on X.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">grayscale transferred 9,839 BTC ($417m) onchain to coinbase prime this morning to settle yesterday\u2019s redemptions (T+1 settlement).<\/p>\n<p>notably less than the day before when they moved 18k BTC ($770m) to coinbase prime to settle tuesday\u2019s redemptions<\/p>\n<p>\u2014 Alex Thorn (@intangiblecoins) <a href=\"https:\/\/twitter.com\/intangiblecoins\/status\/1748004995234972021?ref_src=twsrc%5Etfw\">January 18, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Both BTC and ETH were trading 3% down in the past 24 hours, while in the top 10 cryptocurrencies by market cap, Solana had shed more than 5% as it dipped below $100, while Avalanche was trading nearly 6% in the red at $33.49.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sei-sui-rune-slump-as-bitcoin-drops-amid-grayscale-dump\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Sei (SEI) Sui (SUI) and THORChain (RUNE) were among biggest decliners on Thursday as Bitcoin and Ethereum struggled. Declines for BTC came amid ongoing sell-off from Grayscale, which had deposited over $1.7 billion in BTC to Coinbase Prime since January 12. The crypto [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25697"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25697"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25698"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}