Cryptocurrency

Crypto investment sees $87M inflow despite bearish market sentiment

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Digital asset investment products saw an inflow of $ 87 million in the week of May 23, while market sentiment was mostly bearish, but CoinShares weekly. report I will clarify.

Bitcoin sees influx into bear market

The latest report shows that Bitcoin (BTC) The inflow was $ 69 million, and the inflow so far was $ 369 million. Asset trading fell below $ 30,000 last week, and its price performance brought total assets under management to $ 24.7 billion. This is the lowest level since July 2021.

Negative sentiment can be seen in short BTC positions with an inflow of nearly $ 2 million.

Ethereum The flow of funds continued to be negative, with an outflow of $ 11.6 million and a total outflow of $ 250 million in 2022. But investors don’t think this should be a concern as the Ethereum merger is approaching.

Wes Cowan, managing director of Valkyrie, reportedly said his company “is at risk because we accumulate Ether every day.” This shows investor confidence in the asset.

Algorand sees record investment

Other major altcoins like Algorand, SolanaWhen Tron A positive influx was seen. According to the data, Algorand’s inflow was a record $ 20 million, while Solana’s inflow was $ 1.8 million and Tron’s inflow was $ 400,000.

Hayden Hughs, CEO of Alpha Impact, said: Bloomberg News that:

You can see bulk purchases of Ether and some altcoins. These patterns reflect what we saw at the bottom of the bear market in July 2021 and the bottom of the rural areas in January 2022.

Objective Bitcoin ETFs were also involved in most inflows between digital asset investment providers as they received $ 75.6 million from investors that week and made AuM $ 1.35 billion.

Investors in Europe and North America seem to share the same sentiment, with $ 15.5 million and $ 72 million inflows into investment products in the region.

Overall, the performance of these investments represents a positive change for the industry since then. Recorded $ 141 million outflow During the previous week. So far, investors have spent more than $ 500 million on digital asset investment products in 2022.

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