- Crypto investment products are showing continued signs of recovery.
- Bitcoin’s impressive performance has played a key role in the recent shift.
- One altcoin has solidified its position as a top gainer amidst the current influx of funds.
In recent weeks, the crypto industry has seen a significant turnaround, marked by a substantial flow of capital into digital asset investment products. Last week alone, renewed investor sentiment brought over $1.5 billion into the market, reflecting a growing wave of optimism and interest.
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Building on this momentum, the market has continued its positive trend, recording another billion-dollar investment surge.
$1.35 Billion Poured into Crypto Assets
The ongoing positive sentiment in the crypto industry has continued in another seven-day streak, with inflows totaling $1.35 billion poured into the industry across various digital asset investment products. According to a Monday, July 22 CoinShares report , Bitcoin (BTC) led the charge with $1.27 billion in inflows, bringing the total funds recorded over the last three weeks to an impressive $3.2 billion.
CoinShare’s analysis of regional distributions highlighted the United States and Switzerland with the highest inflows, each recording a total of $1.3 billion and $66 million. The Canadian and Australian markets also performed positively, albeit with minimal investments below $10 million. However, Brazil and Hong Kong bucked the trend, seeing up to $5.2 million and $1.9 million in outflows.
Bitcoin was not the only asset that displayed an impressive performance, with Ethereum stunning the broader market with sizeable inflows.
Ethereum Claims Top Spot for Largest Altcoin Inflows
Hot on the heels of Bitcoin last week, Ethereum saw impressive inflows totaling $45 million, building on the upward momentum it initiated the week before.
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Ethereum’s performance solidifies its position as the altcoin with the most year-to-date (YTD) inflows, reaching $103 million. This surpasses Solana (SOL) , which previously held the top spot with a total of $71 million. Solana also recorded a sizeable inflow of $9.6 million, followed by Litecoin with $2.2 million in investments.
Other assets, such as Binance Coin (BNB) , Cardano (ADA) , and Ripple (XRP) , saw minimal gains, ranging between $400,000 to $500,000.
On the Flipside
- Bitcoin exchange-traded funds also joined the positive trend with an impressive net inflow of $1.24 billion within the same period.
- At press time, Bitcoin is trading at $67,075.
Why This Matters
The ongoing positive sentiment and substantial inflows into digital assets suggest growing investor confidence and renewed interest in the crypto market.
Read more about the best-performing crypto assets as the market makes recovery:
Crypto Makes a Comeback as Major Coins See Double-Digit Gains
Here’s how recent political developments have impacted the performance of some memecoins:
83% Memecoin Mania Ensues on Biden’s Shock Election Exit
