Digital Asset Investment Sees $30M Inflow, Bitcoin Dominates Amid Solana Outflows

According to a recent report from CoinShares, digital asset investment products attracted a total inflow of $30 million last week.

Bitcoin led the charge with $42 million in inflows, signaling renewed investor confidence as the cryptocurrency continues to navigate the early stages of the post-halving cycle. Ethereum, by contrast, saw a modest inflow of just $4.2 million.

Meanwhile, Solana faced significant challenges, recording a net outflow of $39 million. This marked the highest weekly outflow on record for the network, primarily driven by a sharp decline in Memecoin trading volume. The situation underscores the volatile nature of the digital asset market, where shifts in investor sentiment can lead to rapid changes in capital flow.

It has now been 119 days since the 2024 Bitcoin halving. Historical data suggests that Bitcoin typically reaches a market top approximately 530 days after a halving event.

If this pattern holds true, we may still be in the early stages of the current cycle, with ample room for growth. Investors, seemingly aware of this historical trend, are beginning to take on more risk, betting on a repeat of past Bitcoin bull markets.

Suspicious Transfer Involving Over 4000 BTC To Monitor 

In a related development, blockchain investigator ZachXBT reported a suspicious transfer involving 4,064 BTC (approximately $238 million). The funds, potentially linked to victims of previous hacks, were moved across various platforms, including ThorChain, eXch, Avalanche Bridge, ChangeNow, Kucoin, and Railgun. Notably, two of the involved addresses were connected to Genesis Trading, with one holding 642.376 BTC (around $37.73 million) and the other 2,173 BTC (approximately $127 million).

Last week also saw notable activity in the Bitcoin spot ETF market. Bitcoin spot ETFs had a net inflow of $32.58 million. Fidelity’s ETF FBTC led with an inflow of $82.11 million, followed by BlackRock’s IBIT with $71.07 million. However, Grayscale’s GBTC experienced a significant net outflow of $195 million, reflecting a shift in investor preferences within the ETF space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/digital-asset-investment-sees-30m-inflow-bitcoin-dominates-amid-solana-outflows/