Cryptocurrency Investment Products Saw Inflows of $373 Million Last Week

The cryptocurrency market saw significant growth over the last 7 days as the total market cap of digital assets touched an all-time high of $2.5 trillion. Despite the latest Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, cryptocurrency investment products attracted massive institutional investments last week.

According to the weekly digital asset inflows report published by CoinShares, digital asset investment products saw inflows of $373 million last week. The world’s largest cryptocurrency Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term remained the preferred choice of institutional investors with inflows of $290 million last week.

Ethereum-related investment products attracted $60 million last week, which is a jump of nearly $100% compared to approximately $30 million during the last week of April 2021. The total value of Ethereum-related cryptocurrency assets under management reached a record high of $16.5 billion.

“The positive momentum for Ethereum continues with inflows of $60 million last week. New investment product entrants, Cardano and Litecoin got off to a good start with inflows of $6.6 million and $3.6 million, respectively. Overall, cryptocurrency investment products saw inflows totaling $373 million, highlighting a resurgence in demand last week,” CoinShares mentioned in the report.

During the last week of April 2021, Bitcoin attracted nearly $442 million worth of institutional inflows.

Cryptocurrency Market

During the first week of May 2021, the overall market cap of cryptocurrency assets gained nearly $300 billion. Ethereum remained the most popular cryptocurrency among retail and institutional traders as the price of ETH crossed $4,000 for the first time in its history. Additionally, Dogecoin (DOGE), Cardano (ADA) and Bitcoin Cash (BCH) posted strong gains during the last 7 days. The overall market cap of digital currencies took a hit yesterday and dropped by nearly $100 billion in the last 24 hours. As of writing, the total market cap of cryptocurrency assets stands at around $2.4 trillion. Bitcoin is currently trading near $55,000 with a market cap of more than $1.03 trillion. Ethereum is trading above $3,800 with a total market value of over $450 billion. Binance Coin (BNB) is the third-largest cryptocurrency with a market cap of nearly $100 billion.