Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin


After weeks of slow activity, finally, the inflows in the cryptocurrency industry have come rushing in.

For the week ending October 22, crypto investment products saw record inflows totaling a whopping $1.47 billion, according to CoinShares’ weekly report. The previous weekly record was at $640 mln seen earlier this year in February.

This has been the 10th straight week of inflows as optimism soared with the debut of bitcoin futures ETFs. This also brings in year-to-date inflows to $8 bln, far exceeding the entire 2020 record of $6.7 billion.

Last week, crypto-asset prices also surged, with Bitcoin hitting a new ATH at $67,000 and Ether coming close to surpassing its ATH at $4,380.

With prices rising, total assets under management of asset managers also hit a record of $79.2 billion but ended the week at $76.7 billion.

Grayscale, the largest digital asset manager’s AUM, climbed to $54.6 bln while CoinShares’ AUM went up to $5.2 bln.

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Much like the last six weeks in a row, this time as well, Bitcoin accounted for the majority of these inflows. With $1.45 billion flowing in the $1.2 trillion cryptocurrency, its YTD inflows now amount to $6.1 billion.

“Bitcoin hitting new all-time highs shows both how far we've come and the capacity bitcoin has to upend the financial system and create a global economy, linking the developed and emerging markets like never before,” said Ray Youssef, co-founder, and CEO of peer-to-peer fintech platform Paxful.

“While this recent price rally can be attributed to movements like the approval of the first bitcoin ETF for institutional investors, we can't ignore the impact of significant development and adoption in emerging markets,” he added.

This week, for the third time consecutively, Ethereum had outflows, but again it has been minor at $1.4 million. The outflows could be attributed to minor profit-taking as the price stays near ATH above $4,200.

Meanwhile, other cryptos continue to see inflows, with Solana (SOL) recording the highest among altcoins at $8.1 million, bringing in its YTD flows at $130 mln — fourth highest after Bitcoin (BTC), Ether’s (ETH) $1 bln, and $401 mln by multi-asset product. BTC -1.37% Bitcoin / USD BTCUSD $ 50,927.26
-$697.70-1.37%
Volume 30.55 b Change -$697.70 Open $50,927.26 Circulating 18.9 m Market Cap 962.28 b
50 min BTC Hash Rate Nearing ATH, Iceland Rejecting New Bitcoin Miners Due to Power Shortage 1 h Bitcoin Acting Like A Risk Asset, Struggling with Rising Macro Uncertainty 1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows
ETH 1.02% Ethereum / USD ETHUSD $ 4,433.29
$45.221.02%
Volume 20.22 b Change $45.22 Open $4,433.29 Circulating 118.66 m Market Cap 526.03 b
1 h Bitcoin Acting Like A Risk Asset, Struggling with Rising Macro Uncertainty 19 h Over 4.4 Billion Added in Total Stablecoin Supply in the First Week of December 1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows
SOL -1.63% Solana / USD SOLUSD $ 195.15
-$3.18-1.63%
Volume 2.44 b Change -$3.18 Open $195.15 Circulating 307.35 m Market Cap 59.98 b
1 h Bitcoin Acting Like A Risk Asset, Struggling with Rising Macro Uncertainty 19 h Over 4.4 Billion Added in Total Stablecoin Supply in the First Week of December 1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows

Last week, Cardano (ADA) and Binance (BNB) also posted notable inflows at $5.3 mln and $1.8 mln, respectively. Litecoin (LTC) meanwhile had $0.6 mln, Polkadot (DOT) $0.4 mln, and both Ripple (XRP) and Bitcoin Cash (BCH) had $0.3 mln in inflows each. ADA -1.73% Cardano / USD ADAUSD $ 1.42
-$0.02-1.73%
Volume 1.9 b Change -$0.02 Open $1.42 Circulating 33.37 b Market Cap 47.24 b
1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows 1 d 55% of Bitcoin Investors Bought over the Last 12 Months, US Consumers More Aware of DOGE than Ether 1 w Polkadot (DOT) and Solana (SOL) Continue To Be The Winners Of Inflows Relative To AUM
BNB 1.00% Binance Coin / USD BNBUSD $ 594.06
$5.941.00%
Volume 2.12 b Change $5.94 Open $594.06 Circulating 166.8 m Market Cap 99.09 b
1 d BitMart to Compensate Victims of the $150 Million Hack Caused By A Stolen Private Key 1 w Polkadot (DOT) and Solana (SOL) Continue To Be The Winners Of Inflows Relative To AUM 1 w Will Bitcoin Break the Streak? Historically, Red November Always Leads to Losses in December
LTC 2.89% Litecoin / USD LTCUSD $ 167.69
$4.852.89%
Volume 1.76 b Change $4.85 Open $167.69 Circulating 69.14 m Market Cap 11.59 b
1 d 55% of Bitcoin Investors Bought over the Last 12 Months, US Consumers More Aware of DOGE than Ether 4 d Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019 1 w Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe
DOT -2.19% Polkadot / USD DOTUSD $ 30.01
-$0.66-2.19%
Volume 1.69 b Change -$0.66 Open $30.01 Circulating 987.58 m Market Cap 29.63 b
1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows 1 w Polkadot (DOT) and Solana (SOL) Continue To Be The Winners Of Inflows Relative To AUM 1 w Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe
XRP 4.60% XRP / USD XRPUSD $ 0.87
$0.044.60%
Volume 2.78 b Change $0.04 Open $0.87 Circulating 47.25 b Market Cap 41.33 b
1 d Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows 1 w Polkadot (DOT) and Solana (SOL) Continue To Be The Winners Of Inflows Relative To AUM 2 w Investors Unfazed by Profit-taking as Another Week of Flows Bring YTD Crypto Inflows to $9.2B
BCH -1.59% Bitcoin Cash / USD BCHUSD $ 483.75
-$7.69-1.59%
Volume 1.29 b Change -$7.69 Open $483.75 Circulating 18.92 m Market Cap 9.15 b
1 w Invesco Launches Physically-backed Bitcoin ETPs, WisdomTree Lists Three Crypto-Basket ETPs in Europe 4 w “We're Not Going to Talk About” SHIB Listing, says COO as Robinhood’s Crypto Wallet Waitlist Jumps to 1.6 Million 4 w Cryptocurrencies Are “Providing Another Means Of Payment,” for Criminals and Scammers: BoE Governor

 

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