The interest has shifted from Bitcoin to this altcoin!
The new week began with a notable rise in Bitcoin ($BTC ) and altcoins. While questions arise about the sustainability of this momentum throughout the week, CoinShares released its weekly report on digital currencies, indicating inflows of 1.03 billion USD last week.
"Digital currency investment products saw inflows of 1.03 billion USD last week, with asset inflows reaching a record level of 188 billion USD, marking the twelfth consecutive week of inflows."
Ethereum strikes back!
When looking at individual digital currency funds, it was noted that the majority of inflows were from Bitcoin.
While Bitcoin saw inflows of 790 million USD, positive sentiment also dominated Ethereum ($ETH ), with inflows of 226.4 million USD.
When looking at other altcoins, $XRP
Investment inflows amounted to 10.6 million USD, with Solana (SOL) at 21.6 million USD, and Sui (SUI) at 1.6 million USD.
These figures indicate that investors are showing greater interest in Ethereum compared to Bitcoin.
"Bitcoin investment products experienced inflows of 790 million USD last week, a slowdown compared to the previous three weeks, which averaged 1.5 billion USD. The moderation in inflows indicates that investors have become more cautious as Bitcoin approaches its all-time highs.
Ethereum experienced investment inflows of 226 million USD last week, marking its eleventh consecutive week of inflows, bringing the total inflows during that period to 2.85 billion USD. Relatively, the average weekly inflows during this period were 1.6% of total assets under management, which is much higher than Bitcoin's 0.8%.
This indicates a significant shift in investor sentiment towards Ethereum.
When looking at the regional inflows and outflows, the United States ranked first with inflows of 1.02 billion USD.
After the United States, Germany recorded inflows of 38.5 million USD, and Switzerland recorded inflows of 33.7 million USD.
In contrast to these inflows, Canada saw outflows of 29.3 million USD, while Sweden experienced outflows of 19.2 million USD.
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