Digital asset investment products saw a total of $87 million in inflows last week, with year-to-date inflows slightly over half a billion to $0.52 billion. While there were net outflows from Ethereum (ETH), institutional money flowed into these projects.
Crypto inflows remained low compared to the same period last year!
Digital asset investment products saw a total of $87 million in inflows last week, with year-to-date inflows slightly exceeding half a billion to $0.52 billion. This amount is well below the year-to-date entries of $5.9 billion this time last year.
As you can see from cryptokoin.com news, this entry is encouraging, considering Bitcoin’s 34% negative price movement this year. It means that donors and investors buy on price weakness.
Regionally, North America saw total entries of $72 million, while Europe’s first coordinated entries in more than a month totaled $15.5 million.
Ethereum (ETH) exits, Algorand (ALGO) records record entry
Bitcoin total assets under management (AuM) due to price weakness Although currently at its lowest point since July 2021, it saw a total of $69 million in entries and year-to-date entries of $369 million. Short Bitcoin saw a total of $1.8 million in inflows last week. According to experts, this shows that the market has not completely ignored the downtrend.
Leading altcoin Ethereum (ETH) continued to be crushed lower last week with a total outflow of $11.6 million. Ethereum has net outflows of $250 million, which stands in stark contrast to many other altcoins.
However, the decentralized finance (DeFi) focused protocol Algorand (ALGO) saw record $20 million total inflows last week, possibly triggered by new product launches.
Most other altcoin projects saw net inflows. The most notable among these were Multi-Asset with $4.8 million, Solana (SOL) with $1.8 million, and Tron (TRX) with $0.4 million, respectively. Albeit low, Polkadot (DOT), Cardano (ADA) and Ripple (XRP) are also among the altcoins that have entered.
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