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Read more: Binance Founder CZ Increases Net Worth to $53 Billion After Trump Win
The achievement puts year-to-date inflows at an unprecedented $31.3 billion. Global assets under management reached a record high of $116 billion last week, benefiting from increasing asset prices. Meanwhile, trading volumes leaped by $20 billion, up from 4-month highs, though not a record level.
Once again, the majority of inflows into digital asset investment products were concentrated in the U.S., as inflows of $1.95 billion were registered. In Europe, Switzerland and Germany topped with $23 million and $20 million, respectively.
Meanwhile, Bitcoin accounted for the lion’s share, with inflows at $1.8 billion for the week and $9 billion since the first U.S. Federal Reserve interest rate cut in September. According to analysts, such growth in this industry might be explained by supportive macroeconomic conditions and strong changes within the U.S. political environment that gave more confidence to investors.
Ethereum, which was struggling some months ago, saw inflows of $157 million. This is the largest weekly inflow since Ethereum ETFs were launched in July and suggested fresh optimism among investors.
The diversified performance was seen in yet another set of altcoins, which this week benefited from the positive sentiments flowing in the market.
Altcoins led by Solana saw inflows of $3.9 million, with other popular altcoins like Uniswap and Tron coming close at $1 million and $500,000, respectively. Blockchain equities joined in the trend, recording inflows of $61 million.
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. |
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