Global Statistics

All countries
245,793,895
Confirmed
Updated on 28/10/2021 5:37 am
All countries
221,074,719
Recovered
Updated on 28/10/2021 5:37 am
All countries
4,987,910
Deaths
Updated on 28/10/2021 5:37 am

Global Statistics

All countries
245,793,895
Confirmed
Updated on 28/10/2021 5:37 am
All countries
221,074,719
Recovered
Updated on 28/10/2021 5:37 am
All countries
4,987,910
Deaths
Updated on 28/10/2021 5:37 am

Cryptocurrencies Record Fifth Consecutive Week of Inflows, Report Says

Cryptocurrency investment products and funds posted entries for the fifth week in a row as market sentiment in the sector continued to improve, data from digital asset manager CoinShares showed on Monday.

Crypto inflows at $ 41.6 million for the week ending September 17, with bitcoin getting the most inflows at $ 15.3 million and ether products fetching $ 6.6 million. The data showed that the entries were seen across the board.

Digital currency inflows for 2021 were still solid at $ 5.96 billion.

“This improved sentiment could be a seasonal phenomenon, but we are not seeing a commensurate increase in investment product volumes,” said James Butterfill, investment strategist at CoinShares.

“This suggests that some investors are taking advantage of recent price weakness and the continued rise in popularity of old currencies,” he added.

Bitcoin has suffered the most from negative investor sentiment with inflows in just three of the past 16 weeks, according to the report. Over the course of this year, its total market share of assets under management fell from 81% in January to just 67% last Friday, he added.

Overall, bitcoin inflows during the year amounted to $ 4.2 billion.

Blockchain data provider Glassnode, in its last note on Monday, acknowledged the current macroeconomic context that presented growing uncertainties in Chinese credit markets. But he noted that even amid this landscape, “bitcoin price action and investors’ responses on the chain appear relatively strong.”

Glassnode believes that Bitcoin is forming a “consolidation trading range.”

Bitcoin reached a nearly four-month high above $ 52,000 on September 6, but is currently down 7.4% to $ 43,748.

Grayscale remains the largest crypto asset manager, with $ 43.2 billion in AUM, up from $ 28.5 billion in mid-to-early August.

AUM on CoinShares, the second largest digital asset manager, was at $ 4.2 billion.

(Reporting by Gertrude Chavez-Dreyfuss; Edited by Marguerita Choy)

(Business Standard staff may have only modified the title and image of this report; the rest of the content is automatically generated from a syndicated feed.)

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