Crypto Investments Near Annual High with $2.7B Weekly Surge, Totaling $10.3B YTD

In an unprecedented surge, digital asset investment products have experienced a record-breaking week with inflows totaling a staggering US$2.7 billion. This monumental influx has propelled the year-to-date total to an impressive US$10.3 billion, inching ever so close to the all-time high of US$10.6 billion recorded for the entirety of 2021.

Source: CoinShares

The digital currency market has been ablaze with activity, with weekly trading turnover skyrocketing to US$43 billion—shattering the previous week’s record of US$30 billion. The recent uptick in prices has catapulted the total assets under management (AuM) to a new zenith of US$94.4 billion, marking a significant 14% increase over the past week and an astounding 88% growth since the year’s start.

Regionally, the United States has led the charge with inflows of US$2.8 billion. Switzerland and Brazil have also made notable contributions with US$21 million and US$18 million respectively. In contrast, Canada, Germany, and Switzerland have engaged in profit-taking, resulting in outflows of US$35 million, US$77 million, and US$39 million.

Bitcoin continues to be the darling of investors, drawing in US$2.6 billion in inflows, which now account for 14% of the total AuM. Despite a bullish trend in prices, there’s a persistent interest in short positions on Bitcoin, as evidenced by an additional US$11 million influx last week.

Solana, despite recently facing a wave of negative sentiment, has managed to secure US$24 million in inflows. Ethereum, on the other hand, has seen a slight retreat with minor outflows of US$2.1 million. Other cryptocurrencies such as Polkadot, Fantom, Chainlink, and Uniswap have also witnessed inflows, amounting to US$2.7 million, US$2 million, US$2 million, and US$1.6 million respectively.

Source: CoinShares

In the realm of blockchain equities, there’s been a slight ebb with outflows totaling US$2.5 million.

This week’s figures are not just numbers; they represent a growing confidence in digital assets as a legitimate and lucrative component of the global financial ecosystem. As we witness these assets ascend to new heights, one can’t help but ponder the potential and the promise that the future holds for digital currencies and blockchain technology.

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