Crypto Investments Surged for the First Time in Over a Month
Monday, 13 May 2024, 13:54
First Inflows in 5 Weeks Totalling $130 Million
This significant shift marks a positive change in investor sentiment following weeks of stagnant or negative growth across various cryptocurrency assets.
- This resurgence in investment activity is largely attributed to inflows in Bitcoin, which garnered about $144 million last week.
- The United States continues to pull ahead in the crypto market, with inflows reaching $135 million.
- Grayscale reported its smallest outflow since January, totaling $171 million, a sign of potential stabilization in investor appetite.
Scenario in Different Regions
The scenario appears less optimistic in Hong Kong with a modest inflow of $19 million, indicating a cautious or bearish outlook among Asian investors regarding immediate future gains.
- US regulators' low interaction with Ethereum ETF issuer applications increased speculation on delayed ETF approval, leading to $14m outflows.
- Overall participation of ETP in the crypto ecosystem decreased by 31% from the previous month.
- This shift indicates a diversification of investment strategies from traditional ETPs to more dynamic approaches.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.