Key Points:
This marks a four-week run of inflows now totaling $345 million, indicating continued improving sentiment for the asset class. These inflows have almost fully corrected the prior six-week outflow run totaling $408 million. Regionally, inflows were seen across most geographies, but predominantly in the US and Germany with inflows of $58 million and $35 million, respectively.
Interestingly, these inflows come at a time of very low volumes in the Bitcoin market, averaging just $5.6 billion per day compared to $12 billion for the full year. Despite the low volume, Bitcoin has been almost the sole focus for investors with inflows of $104 million last week, bringing its total four-week run to $310 million. Investors fearful of the ongoing traditional finance challenges believe this is a flight to safety. However, opinion remains divided, with short Bitcoin seeing inflows totaling $14.6 million last week.
In contrast, despite the successful launch of Ethereum’s yield features (Shapella), only $0.3 million of inflows were seen last week. Little activity was observed in altcoins except for Polygon, which saw $2.1 million of outflows last week. Blockchain equities saw inflows of $5.8 million last week, and recent price appreciation has pushed total assets under management to $1.9 billion, the highest since October 2022, pre-FTX.
This data suggests that investors are still primarily focused on Bitcoin with only a few other digital assets seeing significant inflows. It remains to be seen if this trend will continue as the market evolves and new opportunities arise.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
This website uses cookies.