"We're going to be focused on how we can accelerate asset addition in the future," CEO Brian Armstrong said on the company's Q1 earnings call.
“What saddens me is the way the weak hands and recent buyers see Elon Musk as a prophet, powerhouse and decisive figure in bitcoin,” said one trader.
Will the man who forecast bitcoin's price rise to $50K last year be heeded or ignored?
Paxful's crypto trading volume in 2021 has more than tripled compared to all of 2020.
BTC remains under pressure and could find lower support near $42K as long-term momentum wanes.
Elon Musk's tweets aside, bitcoin remains vulnerable to rising odds of a Fed Reserve rate hike.
Musk's about-face on the leading cryptocurrency put to flight a market already in a nervous mood.
“The crypto market is primarily focused on Ethereum and the catapulting DeFi sector right now,” said one analyst.
Dominance is at the lowest level since April 2018, suggesting traders are rotating into ether and other altcoins.
The Ethereum creator has turned a memecoin marketing stunt on its head.
"We are watching $42,000 as support," analyst said.
The ETF will aim to track Bitwise's list of top crypto firms and includes companies with $100 million or more of liquid crypto assets on their balance sheet.
Nearly all major components of the CPI increased in April, a sign that pent-up demand is fueling a rebound in economic mobility.
Long-term momentum is deteriorating as buyers continue to take profit on rallies.
The milestone came as ether hit an all-time high of over $4,370.