|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Attracts Inflows of $920 Million as Digital Asset Market Heats Up, Nearing Triple the Record Set in 2021
Oct 29, 2024 at 12:41 am
The recent developments in the digital asset market have brought with them an optimistic outlook, evidenced by inflows amounting to $901 million last week.
Recent digital asset market developments have been positive, with inflows reaching $901 million last week.
This brings total digital asset inflows to $27 billion year-to-date, nearly tripling 2021’s record.
The surge is mainly driven by demand for Bitcoin, which attracted massive inflows of $920 million.
This phenomenon is linked to changes in the American political landscape, where polls have favored Republicans, creating an environment of confidence among investors, the CoinShares Research report notes.
The United States maintains its leadership in the digital asset market, recording the largest share of inflows at $906 million.
Meanwhile, markets like Germany and Switzerland saw slight increases in their investment flows, while Canada, Brazil and Hong Kong experienced small outflows, indicating varying trends in global interest for digital assets.
Despite the concentration of flows in Bitcoin, it is interesting to note that short positions in the asset did not increase correspondingly, as usually happens in similar contexts.
Instead, these positions saw smaller outflows of $1.3 million, which could reflect increased confidence among investors in Bitcoin’s immediate future.
In contrast, Ethereum had a less fortunate week, with outflows reaching $35 million, making it the asset with the largest outflows of the week.
This decrease in confidence towards Ethereum may be linked to the growing interest in alternatives such as Solana, which saw inflows of $10.8 million.
The current political context in the US is heavily influencing investment decisions in digital assets.
Recent polls have shown a rise in Republican popularity, which could be factoring into the overall perception of security and stability of the cryptocurrency market.
This situation has led investors to position themselves strategically, which translates into capital flows seeking to take advantage of opportunities before possible changes in regulations are implemented.
Moreover, interest in digital assets is not limited to Bitcoin alone.
Blockchain stocks have seen a remarkable resurgence, racking up $12.2 million in inflows over the past three weeks.
This uptick in the sector indicates that investors are beginning to diversify their portfolios, seeking not only the profitability offered by cryptocurrencies, but also the possibility of capitalizing on the growth of the blockchain ecosystem as a whole.
The digital asset landscape is marked by strong interest in Bitcoin, driven by political factors in the US, while Ethereum faces challenges.
As investors continue to seek opportunities in this market, analyzing investment flows can provide valuable insight into future trends and the evolution of the cryptocurrency ecosystem.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Bitstamp received MiFID MTF authorization from the Securities Market Services Agency in Slovenia, which also grants an EU pass-through certificate to Bitstamp Financial Services
- Oct 29, 2024 at 04:20 am
- Now authorized to offer crypto products, including permanent swaps, Bistamp will be able to offer more sophisticated products to its companies and traders.
-
- Ethereum's Lackluster Performance in 2022: Vitalik's ETH Sell-Off, Unexpected Effects of Upgrades, and Absence in 'Emerging Trends' Raise Concerns
- Oct 29, 2024 at 04:20 am
- Ethereum was once regarded as the 'blue-chip asset' of the crypto market, and it was widely believed that its price would reach new heights in the future
-
- Solana (SOL) Might Breakout Amid Market Volatility, But DTX Exchange (DTX) Has Captured the Market as the ‘Solana Killer’
- Oct 29, 2024 at 04:15 am
- Nicknamed by market enthusiasts and expert analysts, this new deFi platform has gained popularity for its hybrid trading model and easily affordable price point below $1 mark.
-
- Toncoin (TON) vs JetBolt (JBOLT): Will the New Altcoin Steal the Crypto Limelight?
- Oct 29, 2024 at 04:15 am
- Crypto enthusiasts may find themselves at a crossroads, weighing the merits of established tokens while also eyeing rising stars. In crypto breaking news, the Telegram-based token Toncoin (TON) is experiencing a prolonged price decline, leaving many to wonder if it can rebound and reach the elusive $10 mark. Meanwhile, the new altcoin JetBolt (JBOLT) is capturing whales' attention with its stellar presale that has already sold over 40 million tokens.
-
- Bitcoin (BTC) Spot ETFs Dominate the Crypto ETF Race, While Ethereum (ETH) ETFs Experience Outflows
- Oct 29, 2024 at 02:45 am
- Bitcoin spot ETFs, in a striking show of investor confidence, have accounted for A remarkable daily net inflow of $402.8 million, solidifying Bitcoin dominant possession in the Crypto ETF race.