The Crypto Bulls Are Back: Digital Asset Inflows Cross $103 Million In One Week

Name	Symbol	Market	Market Cap ($)	Algorithm
Litecoin	LTCUSD	Crypto	5,271,258,842	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Litecoin

LTCUSD

Crypto

5,271,258,842

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	70.99	70.98	70.99

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

70.99

70.98

70.99

High Price	Low Price	Open Price	Prev. Close	52 Week Range
71.19	70.67	70.91	70.99	57.64 - 114.98

High Price

Low Price

Open Price

Prev. Close

52 Week Range

71.19

70.67

70.91

70.99

57.64 - 114.98

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	05:46:48	2.58	70.99	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

05:46:48

2.58

70.99

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,521,285.96	21,457.98	LTC	LTCEUR	LTCGBP	LTCBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,521,285.96

21,457.98

The Crypto Bulls Are Back: Digital Asset Inflows Cross $103 Million In One Week

26/12/2023 10:00pm

NEWSBTC

Inflows into crypto investment funds have resumed after a brief hiatus two weeks ago, as evidenced by CoinShares’s latest analysis. According to James Butterfill, Head of Research at CoinShares, digital assets saw a net inflow of $103 million last week, as the wider crypto industry went through a few days of bullish sentiment. This is particularly exciting, as it signaled a change from the net outflows in digital asset investment funds witnessed two weeks ago. Crypto Fund Inflows Surge To $103 Million Crypto asset investment funds witnessed a minor net outflow of $16 million two weeks ago, bringing an end to 11 consecutive weeks of inflows since September. However, according to a social media post by Butterfill, these investment funds attracted a $103 million net inflow last week. As expected, Bitcoin, again, led the charge, attracting 85% of the total inflow. Bitcoin saw an inflow of $87 million last week, bringing its total net inflow this year to $1.758 billion. Related Reading: Harmony To See Redemption? Analyst Predicts Meteoric 650% Rise For ONE Token Ethereum led the altcoin market with a net inflow of $7.9 million, bringing its total net inflow this year to $23 million. Solana followed suit with a $6 million net inflow. At the time of writing, Solana’s total inflow this year stands at $162 million, reflecting the better sentiment Solana has seen with institutional investors this year. On the other hand, Litecoin and Avalanche investment products were the only ones registering a net outflow during the week, with $0.4 million and $2.6 million respectively. In terms of geographical location, Germany had the most inflows with $41.6 million, Canada with $25.8 million, USA with $20.4 million, and Switzerland with $15 million. On the other hand, Sweden had a net outflow of $8.7 million. Total assets under management now stand at $52 billion, representing 31% of the entire crypto market cap of $1.65 trillion. Most of this is traded in the United States, with US-based investment funds holding $37.8 billion worth of assets under management. US$103m inflows in digital assets last week, no report on Monday. Merry Christmas! pic.twitter.com/xAVzCrPPkQ — James Butterfill (@jbutterfill) December 23, 2023 Total market cap rises above $1.6 trillion | Source: Crypto Total Market Cap on Tradingview.com State Of The Market Investment in digital asset funds is largely tied to the sentiment among the spot market prices. As a result, the net inflows last week were a mirror of the price surge led by Bitcoin, with the crypto crossing over $44,000 multiple times during the week. Bitcoin has since corrected and is now trading at $42,390. Related Reading: Crypto Analyst Predicts XRP Price Will Hit $1.33 ‘Pretty Fast’ Ethereum’s lead in the altcoin market has been overshadowed by Solana since October. The crypto is up by 53% in a 7-day timeframe, hitting a yearly high of $124.92 on Christmas day. At the time of writing, Solana is trading at $114. Featured image from Business Insider, chart from Tradingview.com

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