- Cryptocurrencies saw an inflow of 27 million USD within just a week.
- According to various reports, a major part of the inflows came from Switzerland.
- Ethereum saw a total inflow of 120 million USD in the previous week.
The Crypto Market Recovery
Institutional investors believe that the crypto markets are going to have a positive recovery. The reason for the above-mentioned statement is that all the investible currencies in the market right now, such as cryptocurrencies saw an inflow of 27 million USD within just a week. If you think that’s too much, listen to this. The week before that, the inflows amounted to a whopping 343 million USD. Although there were a lot of coins that did very well, the best performing digital assets were the following:
- Bitcoin ($BTC)
- Ethereum ($ETH)
- Cardano ($ADA)
- Solana ($SOL)
From Where Are The Inflows Coming From
The total assets under management are skyrocketing once again gaining the early June levels of stats, 30 billion USD, to be precise. According to various reports, a major part of the inflows came from one nation. We are talking about Switzerland. The country has collectively invested around 16 million USD. Other than this, the two major countries from which the inflows were seen were the United States of America and Germany.
According to the report, within the last week, the inflows of Bitcoin were 16 million USD, while the previous week, it was 206 million USD. This amount of Bitcoin inflow has never been seen since May 2022. Don’t forget about Ethereum, after all, it is the second-largest cryptocurrency in the world. It saw a total inflow of 120 million USD in the previous week, which turned into 8 million USD this week. If we talk about the month-to-date inflows, it is 137 million USD, while the year-to-date flows have plummeted to 315.8 million USD.
Source: https://www.thecoinrepublic.com/2022/07/27/major-crypto-growing-on-inflows-attracting-investor-trust/