Share Your Idea about #DeepSeek 👇
A new player, DeepSeek, has entered the AI arena as China’s response to OpenAI's ChatGPT, but its arrival caused a ripple effect across markets. The NASDAQ stumbled, and the crypto market was dragged down with it.
The aftermath? Massive outflows. Bitcoin and Ethereum exchange-traded products (ETPs) experienced significant losses, with investors pulling $442 million and $99 million, respectively.
In total, crypto ETPs saw outflows exceeding $534 million in a single day, marking one of the most notable movements in recent times.
However, amidst the sell-off, one asset stood resilient: XRP. While it initially felt the impact of the broader market chaos, XRP quickly rebounded.
Instead of outflows, XRP ETPs witnessed $2.1 million in inflows on the same day, a remarkable contrast to the overall market trend.
On the blockchain, a similar story unfolded. Large XRP wallets—primarily those belonging to high-net-worth holders—took advantage of the dip, accumulating 120 million XRP. For these investors, the market dip wasn't a reason to panic but an opportunity to buy at a discount.
So, what does this mean for crypto investors? While Bitcoin and Ethereum holders chose to cut their losses and wait on the sidelines, XRP investors seized the moment. DeepSeek’s market disruption led to contrasting strategies: Bitcoin and Ethereum struggled to regain footing, while XRP turned adversity into advantage.
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