Critical Report Released for Bitcoin and Altcoins! Ethereum Dethroned Bitcoin, Two Altcoins Became the Focus!

Bitcoin, Ethereum, and altcoins are experiencing sharp declines amidst macro data from the US and dwindling expectations for a Fed interest rate cut. BTC has fallen below $115,000, while downward momentum continues for ETH and altcoins.

While this decline is likely to continue in the short term, CoinShares released its weekly cryptocurrency report and stated that $3.75 billion in inflows occurred last week.

This was the fourth-largest weekly gain on record and the second consecutive weekly gain.

Cryptocurrency investment products saw inflows of $3.75 billion, the fourth-highest on record. This pushed AUM to an all-time high of $244 billion.

Ethereum Outperforms Bitcoin!

When looking at individual crypto funds, it was seen that the majority of inflows were in Ethereum.

Ethereum experienced a major surge and took the lead with an inflow of $2.87 billion.

The positive atmosphere continued in Bitcoin (BTC), with an inflow of $552 million.

When we look at other altcoins, XRP also made a big move and experienced an inflow of $125 million, Solana (SOL) $176.5 million and Sui (SUI) $11.3 million, while Toncoin (TON) experienced an outflow of $1 million and Litecoin (LTC) $0.4 million.

Ethereum continues its rally, with a record $2.87 billion in inflows last week. This accounts for 77% of total weekly inflows and brings year-to-date (YTD) inflows to a record $11 billion.

While Bitcoin saw modest inflows totaling $552 million, Solana and XRP assets recorded significant inflows of $176.5 million and $125.9 million, respectively. In contrast, Litecoin and Tone saw small outflows of $0.4 million and $1 million, respectively.

When looking at regional fund inflows and outflows, the USA ranked first with an inflow of $3.72 billion.

Following the US, Canada saw an inflow of $33.7 million and Hong Kong $20.9 million.

Against these inflows, Sweden experienced an outflow of $49.9 million and Brazil $10.6 million.

*This is not investment advice.