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This week's highlights Palladium (ETPMPD) was back on top last week, after the London Platinum and Palladium Market, which runs the global palladium exchange, banned all new Russian palladium from trading. As Russia produces 40% of mined palladium supply, traders are betting on a supply crunch, which drove prices higher. Crypto ETFs were the worst performing by far, with Cosmos DIGA and BetaShares CRYP falling 13.8% and 12% respectively. The funds focus on bitcoin miners, and as such their share prices are very sensitive to the price of bitcoin, which fell heavily from 4 – 11 April. Total inflows for the week were $467 million. As with last week, defensive ETFs (bonds, gold, hybrids, core equity) saw the biggest inflows, suggesting investors still believe markets are toppy. There were just $57 in outflows, which is significantly less than last week’s $130 million. The biggest loser was the VanEck Vectors Australian Equal Weight ETF (MVW), which alone accounted for almost half the industry’s weekly outflows. The outflows may owe to MVW’s performance versus competitors. ...
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Powered by 21Shares Market Outlook The price performance of the markets this month was progressive in comparison to February. The market cap of the whole crypto industry started hovering over $2T shortly before March came to an end. This month also witnessed crypto’s highest correlation with tech stocks, as seen in the chart below. Bearing in mind that the closer it is to 1, the higher the correlation, and that the closer it is to 0, the lower the correlation, the connection between Bitcoin and S&P 500 is still relatively very low. There have been a lot of developments in the Ethereum network, riling up hype in its ecosystem. One of the biggest moves is the long-anticipated proof-of-stake migration, which has shown a visible impact on Ethereum’s price performance, up 15.5% from last month. BTY-SPY Correlation ...