比特币主导流入，而以太坊挣扎

围绕加密货币的投资格局发生了变化。上周，数字资产投资产品记录了6.44亿美元的大量流入

Last week saw digital asset investment products post an interesting development: a return to inflows, specifically totaling $644 million, Invictus Capital reports.

上周，数字资产投资产品发布了一个有趣的发展：Invictus Capital Reports的流入回报，特别是6.44亿美元。

This marks a departure from the previous five weeks, which had seen outflows.

这标志着过去五个星期的出发，出现了流出。

The latest figures from Invictus Capital, a digital asset investment firm, show that a substantial portion of the recent inflows went into Bitcoin (BTC). The world’s largest cryptocurrency enchained new investments of $724 million.

数字资产投资公司Invictus Capital的最新数据表明，最近流入的很大一部分进入了比特币（BTC）。世界上最大的加密货币占7.24亿美元的新投资。

Those sti ll interested in Solana (SOL) seem to be sticking with the token. A small amount of fresh capital went into Solana, which had inflows of $6.4 million.

那些对Solana（Sol）感兴趣的人似乎坚持了令牌。 Solana的少量新资本进入了640万美元的流入。

Bitcoin Dominates Inflows, While Ethereum Struggles

比特币主导流入，而以太坊挣扎

Bitcoin’s strong showing in pulling in new investments demonstrates that the digital asset’s appeal is as strong as ever, even in today’s increasingly uncertain economic climate. The total dollar amount-$724 million-for new inflows into Bitcoin across nearly all fund types in mid-July is both striking and a bit head-scratching, considering not only the market’s recent volatility but also the increasingly negative narrative being pushed about Bitcoin and other cryptocurrencies.

比特币在推动新投资方面的强烈表现表明，即使在当今日益不确定的经济环境中，数字资产的吸引力也一如既往地强烈。在7月中旬，几乎所有基金类型的新资金币的全新流入量为7.24亿美元，这既令人震惊又令人头疼，这不仅是市场最近的波动性，而且考虑到越来越多的负面叙述被推向比特币和其他加密货币。

Here are the details.

这是细节。

Money flowing into Bitcoin showcases how people are increasingly favouring not just digital assets but, more specifically, those that provide a reliable store of value. Of all the digital assets available today, Bitcoin is the most popular and the one that seems to be doing the best in not just surviving, but thriving, under adverse economic conditions.

流入比特币的资金展示了人们如何不仅偏爱数字资产，而且更具体地说，那些提供了可靠的价值存储。在当今可用的所有数字资产中，比特币是最受欢迎的资产，并且似乎在不利的经济条件下不仅生存，而且蓬勃发展。

Conversely, the cryptocurrency that ranks second in market capitalization, Ethereum (ETH), had $86 million flow out. This may stem from several issues, not least of which is the platform’s apparent inability to scale, a problem that some expect will be partially addressed by an upcoming upgrade.

相反，在市值以太坊（ETH）中排名第二的加密货币的流量为8600万美元。这可能源于几个问题，尤其是该平台明显无法扩展，这一问题有些人期望这一问题将通过即将进行的升级来部分解决。

Whatever the reason, investors in recent months have been moving money out of Ethereum. As they have, it has seen increased competition from other platforms like Solana, which has very favourable sentiment and is building out an ecosystem.

无论出于何种原因，最近几个月的投资者都将钱从以太坊移出。正如他们所拥有的那样，索拉纳（Solana）等其他平台的竞争增加了，这种平台具有非常有利的情绪，并且正在建立一个生态系统。

Strategic Bitcoin Purchases Continue to Gain Traction

战略性比特币的购买继续获得吸引力

One of the most notable recent events in the digital asset arena is a substantial Bitcoin acquisition by a major investment strategy. Between March 17 and March 23, the strategy bought 6,911 Bitcoins at an average price of $84,529 per coin-a total outlay of $584.1 million.

数字资产领域中最著名的事件之一是通过主要投资策略的大量比特币收购。在3月17日至3月23日之间，该策略以平均价格购买了6,911个比特币，每枚硬币A总支出为5.841亿美元。

This looks very much like a vote of confidence in Bitcoin’s long-term enduring value, even at these higher price levels.

即使在这些较高的价格水平上，这看起来非常像对比特币长期持久价值的信心投票。

Strategy has acquired 6,911 BTC for ~ $584.1 million at ~ $84,529 per bitcoin and has achieved BTC Yield of 7.7% YTD 2025. As of 3/23/2025, we hould 506,137 $BTC acquired for ~ $33.7 billion at ~ $66,608 per bitcoin. $MSTR $STRK

策略以约5.841亿美元的价格收购了6,911 BTC，每个比特币$ 84,529，其BTC收益率为7.7％YTD 2025。截至2025年3月23日，我们以〜337亿美元的价格收购了506,137美元的BTC，以〜666,608 $ 66,608的比例购买。 $ MSTR $ strk

— Strategy (@Strategy) March 24, 2025

- 策略（@Strategy）2025年3月24日

Currently, this strategy has amassed 506,137 Bitcoins at an aggregate purchase cost of around $3.37 billion. The average purchase price for these Bitcoins is $66,608 per coin, which highlights the strategy’s commitment to acquiring Bitcoin at a diversity of price points in the market.

目前，该策略已积累了506,137个比特币，总购买成本约为33.7亿美元。这些比特币的平均购买价格为每枚硬币的66,608美元，这突出了该策略希望以市场价格多样性获得比特币的承诺。

These colossal Bitcoin buys are part of a larger trend whereby institutional investors and big-name asset managers are upping their ante in Bitcoin. This is not a speculative, short-term trade. These guys appear to be betting on Bitcoin appreciation over the long haul. The latest digital asset to get the thumbs-up from the investment community, Bitcoin thus far enjoys a stellar 2021.

这些巨大的比特币购买是一个更大趋势的一部分，在这种趋势中，机构投资者和大牌资产经理正在将其赌注提高到比特币中。这不是投机性的短期贸易。从长远来看，这些家伙似乎一直在押注比特币的欣赏。迄今为止，比特币是投资界大拇指的最新数字资产，享有2021年出色的数字资产。

A Mixed Market Outlook

混合市场前景

Bitcoin is leading the way in this regard, but we have a more nuanced outlook for the performance of other cryptocurrencies, which have been mixed. For example, outflows from Ethereum could be a temporary setback, as the platform continues to undergo upgrades aimed at improving its scalability and efficiency. Indeed, the Ethereum 2.0 upgrade that is happening right now, which includes the switch to a proof-of-stake consensus mechanism, could very well address some of the platform’s issues and help improve it over the next few months, potentially turning the tide for investors.

在这方面，比特币正在领先，但是我们对其他加密货币的表现有更加细微的前景。例如，以太坊的流出可能是暂时的挫折，因为该平台继续进行旨在提高其可扩展性和效率的升级。的确，现在正在发生的以太坊2.0升级，其中包括转向验证证明的共识机制，可以很好地解决该平台的某些问题，并在接下来的几个月内有助于改善它，从而有可能为投资者带来潮流。

Altogether, Solana’s $6.4 million inflows mark a very small chunk of the overall market; however, this asset is making strides as an alternative smart contract platform to Ethereum, which is viewed as the industry standard. On its own, Solana is posting numbers that shouldn’t necessarily be a cause for concern, because, even with its low inflows, it has still managed to rack up a competitive platform status against Ethereum itself. Its presence as a low-risk investment avenue is also noteworthy.

总共，索拉纳（Solana）的640万美元流入标志着整个市场中很小的一小部分。但是，该资产是作为以太坊的替代智能合约平台而大步向前的，该平台被视为行业标准。 Solana本身就是发布不一定是令人关注的原因的数字，因为即使流入率低，它仍然设法在针对以太坊本身的竞争平台状态中提高了竞争性的平台状态。它作为低风险投资大道的存在也值得注意。

Conclusion: Renewed Optimism for Digital Assets

结论：对数字资产的乐观情绪