Funds are Flowing into Cryptocurrencies
#money #crypotcurrencies #bitcoin #ether #knights #blockchain
Cryptocurrency products and funds posted net inflows of $88-M last wk, data from digital asset manager CoinShares showed Monday, in a wk that saw a decline in prices.
Inflows so far this yr added up to a robust $9.5-B with 2 more wks to go in Y 2021. In Y 2020, total crypto inflows were $6.7-B.
Bitcoin recovered a bit last wk, posting a 1.3% gainer for the frame after a 14% selloff the prior wk.
CoinShares data showed that bitcoin showed inflows of $51-M, its 13th wk running of inflows that puts its YTD net total to $6.5-B.
Bitcoin is trading at this writing at $47,823.68. Since hitting an all-time high of $69,000 on 10 November, the world's largest cryptocurrency has fallen 32% since. the trend is Bearish.
Knights' coin is trading comfortably above $700/each
Ethereum saw outflows totaling $17-M last wk, the 1st time following 6 wks of inflows, although it reflects only 0.09% of assets under management.
Other digital assets Solana and Tron showed inflows of $19 and 17-M, respectively.
CoinShares noted that the recent price appreciation of Tron, a decentralized, open-source blockchain-based operating system, and dubbed the "world computer" coin, has pushed its total AUM of products and funds linked to the token to $92-M, higher than that of Cardano, a public blockchain.
Data also showed that trading volumes across investment products fell 13% to $3-B for the wk.
Have a prosperous day, Keep the Faith!
Larry Fink Called It. CME Just Made It Real. The Compute Futures Market Has Arrived
