Home Business Crypto is growing explosively – record inflows for the tenth week in...

Crypto is growing explosively – record inflows for the tenth week in a row

The mood on the crypto market is back again. Not only has the Bitcoin price risen to $42,000 today and yesterday, a level not seen in 18 months, we are also seeing billions flowing towards crypto investment products (ETPs). In fact, according to a report from CoinShares, net inflows have now been visible for the tenth week in a row. Exciting times.

🔔 Today: All Dutch crypto holders get €60 free gold

The crypto market is picking up speed again

Last week, $176 million was invested in crypto ETPs. These inflows are notable as they represent 4% of total assets under management (AuM) from these types of investments and represent the largest inflows since the launch of futures-based ETFs in the US in October 2021.

Ethereum (ETH), often considered the largest altcoin, has shown a particularly striking trend. This week alone, Ethereum inflows reached $134 million, marking a positive turnaround after an extended period of negative sentiment. So, it is clear that investors are expecting a nice uptrend for the second largest cryptocurrency soon.

Although Ethereum has seen strong growth, Bitcoin (BTC) still remains the dominant player in the digital asset market. This remains a key focus for investors, with total inflows of $133 million last week. Notably, despite a 107% increase in total assets under management this year to $46.2 billion, it is still well below the 2021 peak of $86.6 billion. So there is still plenty of room for further growth.

Other altcoins such as Solana (SOL), XRP (XRP) and Cardano (ADA) also saw an increase in investments, although less than Ethereum and Bitcoin.

Crypto and blockchain stocks are doing good business

Additionally, stocks related to blockchain technology recorded inflows for the seventh consecutive week. The latest inflow of $17.4 million last week is the highest since July 2022 and underscores growing investor interest in the broader blockchain sector that goes beyond traditional crypto assets.

Post views: 2

No Comments

Leave A Reply

Please enter your comment!
Please enter your name here

Exit mobile version