Business

Cryptocurrency flows continue despite the ongoing European conflict

blank

Last week, investment inflows into crypto products and digital assets took place for the sixth consecutive week, bringing in a mere $36 million.

According to the latest CoinShares report, the money flow persists despite the ongoing conflict in Ukraine and the accompanying negative sentiment. The report highlights that Bitcoin trading volume on crypto exchanges trading the RUB/USD pair has increased by 121% from the previous week.

Understandably, flows are rather unidirectional, with the Americas seeing inflows of $95 million, while European investment products saw an inflow of $59 million last week.

Coin flow

Major coins saw inflows last week, albeit in rather low amounts. For example, inflows into Bitcoin-based investment products amounted to $17 million last week. This brings the total for the fifth consecutive week now to $239 million. While Ethereum-based products saw only small inflows of just $4.2 million, it marked the second week in the past three weeks with inflows, after five consecutive weeks of outflows.

Additionally, most altcoin-based investment products experienced outflows last week, however very small, which the report notes is unusual. Solana and Litecoin appear to be the main focus of negative investor sentiment, with total inflows of $2.6 million and $500,000 respectively. Among altcoin-based products, Tezos stands out as the only one with inflows this week of $4.4 million, representing 14% of assets under management.

Meanwhile, inflows into multi-asset investment products hit $14 million last week. The report highlights these products have become a “solid commodity” this year, as annual investment inflows of $83 million have even surpassed Bitcoin. Money also continued to pour into blockchain investment funds last week with $8 million.

Last week, CoinShares also commented that the flow of money continued despite the threat of conflict lurking, just before the invasion began. While Europe still has inflows, about $101 million of last week’s $109 million went to the Americas.

Disclaimer

All information contained on our website is published in good faith and is for general information purposes only. Any action a reader takes with respect to information found on our website is entirely at their own risk.

https://beincrypto.com/crypto-inflows-continue-despite-ongoing-european-conflict/ Cryptocurrency flows continue despite the ongoing European conflict

Songdep

Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Back to top button