Receipts in cryptocurrency investment products from March 2 to March 8 amounted to $2.69 billion after $1.83 billion in the previous reporting period. This is stated in the review CoinShares.
Data: CoinShares.
The positive trend continued for the sixth week in a row.
The previous high of $2.45 billion was formed between February 10 and February 16.
The inflow since the beginning of the year has reached $10.3 billion. The value is comparable to the record $10.6 billion for the entire 2021.
Trade turnover reached $43 billion, beating the previous week’s record of $30 billion.
Assets under management (AUM) jumped to an all-time high of $94.4 billion. The figure has increased by 14% since the previous review and by 88% since the beginning of the year.
Market participants invested $2.64 billion in Bitcoin-related instruments after $1.73 billion in the previous reporting period. Receipts since the beginning of the year formed 14% of AUM.
Clients invested $11 million in structures that allow them to open shorts on the first cryptocurrency (a week earlier – $22.2 million).
Ethereum funds recorded a slight outflow of $2.1 million after the highest inflow since mid-2022 of $84.7 million.
The negative dynamics in Solana (-$11.9 million in the previous week) gave way to revenues of $24 million.
In other altcoins, positive dynamics prevailed. Products based on Polkadot, Fantom, Chainlink and Uniswap recorded inflows of $2.7 million, $2 million, $2 million and $1.6 million respectively.
Data: CoinShares.
Let us remind you that IntoTheBlock named five factors due to which the price of Bitcoin will exceed $70,000 in the coming months.
In February, Bitwise chief investment officer Matt Hougan predicted digital gold would surpass $80,000 in the foreseeable future thanks to the ETF’s success.
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2024-03-11 15:51:49
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