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CoinShares: Last week's Bitcoin trading volume reached 11.8 billion US dollars, which is seven times the average weekly trading volume in 2023

CoinShares: Last week's Bitcoin trading volume reached 11.8 billion US dollars, which is seven times the average weekly trading volume in 2023

Bitget2024/01/22 12:54
BTC-0.56%SOL+0.85%ETH-1.60%
The weekly report from CoinShares shows that there was a small outflow of funds from digital asset investment products last week, totaling $21 million. However, Bitcoin trading volume reached $11.8 billion, seven times the usual weekly volume in 2023. Regionally speaking, the United States saw an inflow of $263 million while Canada and Europe combined had an outflow of $297 million. This indicates a slight shift of assets to the U.S., where fees are currently more competitive. Despite the fact that the $11.8 billion trading volume represents 63% of all Bitcoin trades on trusted exchanges, there was a total outflow of funds amounting to $25 million from Bitcoin which highlights that ETP activities are currently dominating overall trading activities. Ethereum and Solana respectively saw outflows of $14 million and $8.5 million each. Blockchain stocks further experienced significant inflows with a total amount reaching up to $156 million bringing fund inflows over the past nine weeks to reach up to$767million.
 
 
 
 
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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