Bitcoin (BTC) and altcoins started the week lower due to rising oil prices. However, it has since recovered and the market is back in the blue.
However, as the conflict between the US and Iran continues, leading to market weakness and uncertainty, CoinShares released a crypto report stating that it had received $619 million in inflows in the past week.
“Cryptocurrency investment products saw inflows of $619 million. Strong demand at the beginning of the week was offset by weekend outflows due to higher oil prices despite weak employment data.”
Bitcoin leads the way!
Looking at individual virtual currency funds, inflows were mainly from Bitcoin.
Bitcoin saw inflows worth $521 million, and Ethereum (ETH) saw inflows worth $88.5 million.
Looking at other altcoins, Solana (SOL) saw inflows of $14.6 million and Chainlink (LINK) saw inflows of $1.4 million. $XRP It experienced an outflow of $30.3 million.
“The majority of the inflows were in Bitcoin, with total inflows reaching $521 million.”
There was also an influx in some altcoins. These were led by Ethereum with $88.5 million and Solana with $14.6 million, with smaller inflows into Uniswap ($1.4 million) and Chainlink ($1.4 million).
but, $XRP The company experienced a total outflow of $30.3 million.
Looking at regional capital inflows and outflows, the United States ranked first with an inflow of $646 million.
Following the US, Sweden and Australia experienced smaller inflows of $3.3 million and $1.4 million, respectively. In contrast, Germany and Switzerland had outflows of $14.8 million and $14.5 million, respectively.
*This is not investment advice.
