Weekly Cryptocurrency Inflows Remain Slow
- Ethereum investment products attracted $11.7 million last week.
The cryptocurrency market saw a correction on Monday after the total market cap of digital currencies dropped by more than $100 billion. Since May 2021, the overall crypto market sentiment has remained negative.
The latest negative trend is having a major impact on the weekly inflows in cryptocurrency investment products. According to the recent digital asset weekly fund flows report published by CoinShares, 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 investment products saw outflows worth $10.4 million last week.
However, Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, the world’s second-largest cryptocurrency, attracted substantial inflows during the last seven days. ETH investment products saw inflows worth $11.7 million in the last week. During the first half of 2021, Ethereum investment products attracted approximately $1 billion worth of inflows.
“After a few weeks of inflows into Bitcoin (the world’s largest cryptocurrency), we have now seen outflows for the last two weeks, with outflows last week totaling US$10.4m. These outflows are minimal relative to the significant outflows witnessed in May and June this year. Furthermore, we believe the timing of some investment product launches, where investors gained market access for the first time, has led to recent profit-taking rounds, this is evident in the mixed nature of inflows and outflows across different providers,” CoinShares mentioned in the report.
During the last week, net inflows reached $2.9 million. In the second week of July 2021, cryptocurrency investment products saw outflows worth nearly $4 million.
Quiet Week for Cryptocurrency Assets
Apart from the recent performance of Bitcoin and Ethereum, other cryptocurrency assets including Polkadot, Cardano, Stellar, and XRP attracted minor inflows during the last seven days. “For the rest of the altcoins it was a very quiet week, Ripple, Polkadot, Multi-asset, Cardano and Stellar all had inflows but were less than US$0.5m each. Volumes in Bitcoin fell to just 38% of the year-to-date average, totaling US$3.9bn per day last week. We do not believe this represents something ominous in the market as we saw similar seasonal dips in volumes during the summer months in recent years,” CoinShares added.
The cryptocurrency market saw a correction on Monday after the total market cap of digital currencies dropped by more than $100 billion. Since May 2021, the overall crypto market sentiment has remained negative.
The latest negative trend is having a major impact on the weekly inflows in cryptocurrency investment products. According to the recent digital asset weekly fund flows report published by CoinShares, 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 investment products saw outflows worth $10.4 million last week.
However, Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, the world’s second-largest cryptocurrency, attracted substantial inflows during the last seven days. ETH investment products saw inflows worth $11.7 million in the last week. During the first half of 2021, Ethereum investment products attracted approximately $1 billion worth of inflows.
“After a few weeks of inflows into Bitcoin (the world’s largest cryptocurrency), we have now seen outflows for the last two weeks, with outflows last week totaling US$10.4m. These outflows are minimal relative to the significant outflows witnessed in May and June this year. Furthermore, we believe the timing of some investment product launches, where investors gained market access for the first time, has led to recent profit-taking rounds, this is evident in the mixed nature of inflows and outflows across different providers,” CoinShares mentioned in the report.
During the last week, net inflows reached $2.9 million. In the second week of July 2021, cryptocurrency investment products saw outflows worth nearly $4 million.
Quiet Week for Cryptocurrency Assets
Apart from the recent performance of Bitcoin and Ethereum, other cryptocurrency assets including Polkadot, Cardano, Stellar, and XRP attracted minor inflows during the last seven days. “For the rest of the altcoins it was a very quiet week, Ripple, Polkadot, Multi-asset, Cardano and Stellar all had inflows but were less than US$0.5m each. Volumes in Bitcoin fell to just 38% of the year-to-date average, totaling US$3.9bn per day last week. We do not believe this represents something ominous in the market as we saw similar seasonal dips in volumes during the summer months in recent years,” CoinShares added.