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Tuesday, June 4, 2024
HomeCryptoCryptocurrencies recorded capital inflows for four consecutive weeks, reaching $185 million last...

Cryptocurrencies recorded capital inflows for four consecutive weeks, reaching $185 million last week

Crypto funds recorded inflows of $185 million last week, up to $2 billion in May and $15 billion so far this year.

According to asset management company CoinShares, trading volume has been reduced 8 billion USD compared to 13 billion USD the previous week despite positive capital flows.

Bitcoin continues to attract investor confidence with inflows of $148 million, while Short Bitcoin products face outflows of $3.5 million, showing sustained positive sentiment among traders. ETF investors.

Source: CoinShares

Buoyed by the SEC’s nod to a spot ETF scheduled to launch in July 2024, Ethereum saw inflows for a second week, reversing a 10-week streak of outflows topping $200 million. This optimistic change for Ethereum also positively affected Solana – which attracted additional capital inflows of $5.8 million.

By region, the United States dominated capital inflows with $130 million. However, ETF issuer Grayscale saw a spike in outflows of $260 million. Switzerland celebrated its second-biggest week of inflows of the year with $36 million, while Canada reversed the trend with an inflow of $25 million, offsetting a cumulative outflow of $39 million in May.

In contrast to direct investment returns in digital assets, blockchain stocks face challenges with a loss of $7.2 million last week, contributing to a total outflow of $516 million for the year now.


According to Cryptobriefing

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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