• Institutional investors have invested $127 million in the cryptocurrency market

  • According to a CoinShares analysis, the digital assets market has seen substantial inflows of $127 million in the last week alone, despite the dismal performance of major cryptocurrencies on the market.

    Inflows of digital assets increased over the previous week, most likely due to a minor recovery in the bitcoin market. Traders grew increasingly active as the volume of inflows into hazardous assets increased, according to data.

    Geographically, the favorable attitude and fund inflows were primarily concentrated in North America, with inflows totaling more than $150 million compared to $24 million withdrawals from Europe. Bitcoin was the most popular asset among institutional investors, with about $100 million in funds being transferred to it.

    With $130 million invested in the cryptocurrency market in the last week alone, Purpose ETF appears to be the greatest inflows supplier for the market. CoinShares XBT was the greatest loser, with buyers withdrawing $21 million from the market.

    In the case of Ethereum and other altcoins, they received around $33 million in inflows last week. The second-largest cryptocurrency garnered $25 million, while multi-asset ETFs received $8.6 million.

    The return of institutional investors to the crypto market could signal the start of a comeback following a more than three-month correction that resulted in a 50% decline in the value of major digital assets.

    The overall market capitalisation of the cryptocurrency industry is presently $1.9 trillion, having peaked at $1.515 trillion earlier in January 2022. At the time of writing, Bitcoin was trading at $38,768, while Ethereum was trading at $2,583.

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