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bitcoin
Bitcoin (BITCOIN)
$108,033 1.69%
ethereum
Ethereum (ETHEREUM)
$2,568 1.66%
binancecoin
BNB (BINANCECOIN)
$659.34 1.02%
solana
Solana (SOLANA)
$156.27 2.83%
ripple
XRP (RIPPLE)
$2.28 0.07%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 0.31%
pepe
Pepe (PEPE)
$0.000012 2.41%
bonk
Bonk (BONK)
$0.000016 3.23%
bitcoin
Bitcoin (BITCOIN)
$108,033 1.69%
ethereum
Ethereum (ETHEREUM)
$2,568 1.66%
binancecoin
BNB (BINANCECOIN)
$659.34 1.02%
solana
Solana (SOLANA)
$156.27 2.83%
ripple
XRP (RIPPLE)
$2.28 0.07%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 0.31%
pepe
Pepe (PEPE)
$0.000012 2.41%
bonk
Bonk (BONK)
$0.000016 3.23%
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Crypto Market Sees $224M Inflows as Investors Await Fed Decision

Highlights:

  • Crypto market inflows surge to about $224 million, marking a seventh consecutive profitable outing.
  • Ethereum inflows have reached over $1 billion within a seven-week interval.
  • Last week, Bitcoin and XRP recorded net inflows worth over $50 million.

Asset management firm CoinShares has publicized last week’s digital assets flow data. The report showed that cryptocurrencies maintained their impressive run with another net inflows worth approximately $224 million. This marked digital assets’ seventh consecutive weekly net inflows, totaling $11 billion.

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While cryptocurrencies sustained their stellar performance, CoinShares highlighted a concerning decrement in the inflow momentum. The asset manager stated, “There has been a noticeable deceleration amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the US Federal Reserve on inflation.”

Ethereum Leads Crypto Market Inflows Again

According to CoinShares’ recent report, Ethereum has continued to outperform Bitcoin with its most recent $296.4 million in inflows last week. This figure represents over 100% of the entire net inflows with roughly $1.5 billion in net inflows over the past seven weeks.

CoinShares noted:

“Ethereum led this week, seeing $296.4 million inflows, marking its 7th week of inflows that total $1.5 billion, representing an astonishing 10.5% of total assets under management.”

In contrast, Bitcoin has succumbed to a second consecutive net outflow. The latest report showed that the asset forfeited $56.5 million. CoinShares added that short Bitcoin products also experienced another week of net outflows. However, it did not report the lost amount. Meanwhile, CoinShares noted that policy uncertainty in the United States is contributing to BTC’s recent struggles.

Aside from Ethereum, other notable altcoins captured in CoinShares’ most recent report were SUI and XRP. SUI contributed $1.1 million to the crypto market inflows, while XRP’s third week of outflows reached approximately $6.6 million.

Different Nations Digital Assets Net Inflows and Outflows

In its report, CoinShares highlighted five countries with significant inflows. These nations include the US, Germany, Switzerland, Canada, and Australia. They recorded net inflows of about $175 million, $47.8 million, $15.7 million, $9.8 million, and $6.5 million, respectively. Similarly, the asset management firm also highlighted Brazil and Hong Kong as countries with considerate net outflow contributions. CoinShares reported that these two nations lost approximately $9.2 million and $14.6 million, respectively.

BTC ETFs Face Similar Fate

Like digital assets, Bitcoin and Ethereum Exchange Traded Funds (ETFs) weekly flow statistics have emerged. Renowned ETF tracker SosoValue reported that Bitcoin funds’ last outing before the past week’s conclusion was on June 6. This outing resulted in a net outflow worth $47.8 million. Overall, BTC ETFs recorded back-to-back weekly outflows worth $128.81 million.

On the other hand, Ethereum ETFs have been recording only inflows since May 16. According to SosoValue, the funds’ most recent outing resulted in cash inflows worth $25.22 million on June 6. The ETFs’ weekly variable showed that they attracted $281.07 million, marking their fourth consecutive profitable week.

Meanwhile, in terms of price actions, Bitcoin and Ethereum have recovered slightly from the previous week’s drops. Bitcoin is priced at roughly $107,300 following a 1.7% upswing in the past 24 hours, with price extremes fluctuating between $105,426 and $107,326.

Source: CoinGecko

Similarly, Ethereum is up 1.2% in the past 24 hours, trading at about $2,500 and oscillating between 2,482.70 and $2,537.40. ETH’s market cap and fully diluted valuation are worth over $300 billion each, while its 24-hour trading volume reflected $13.12 billion.

Source: CoinGecko

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