Market Colour 04/06/2024 📈

➜ Weekly Crypto Asset Flows: Digital investment products observed inflows for the 4th consecutive week taking YTD flows to $14.7B. $BTC saw approximately $150M of inflows in the last week with majority of it coming from the US.

➜ RWA: Two of the biggest players in the RWA space, $Ondo and Mantra, have released a vault that allows $USDC contributors to gain access to short-term US Treasuries yield. RWA continues to be a key narrative of this cycle with Blackrock’s BUIDL fund surging to over $450M in AUM since launching in March.

➜ Binance Delistings: Binance announced that it will delist $WAVES and $OMG on June 17th. Following this news, both WAVES & OMG have plunged 33% in the last 24 hours. Both tokens have seen a surge in the number of short positions as $WAVES OI and $OMG OI have surged 40% and 150% respectively while its annualized funding rates sit at -575% and -690% respectively.

➜ GME: GME, ROAR and KITTY memecoins surged on June 3rd as Roaring Kitty (Keith Gill) returned to Reddit for the first time in over three years. This surge was driven by his latest post which outlined a $180M position in #GameStop with $65.7M worth of GME Call options and $115.7M worth of outright shares.

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