Investors Pouring Funds into Crypto Market
Date: 2023-11-22 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Positive Trends in Crypto Investments
The crypto market is witnessing a significant influx of investments, continuing the upward trajectory for the eighth consecutive week. Analysts at CoinShares reported a staggering $176 million inflow into digital asset investment products between November 13 and 17, bringing the total investment volume to $1.32 billion.
Increasing Share of ETPs
While exchange-traded product (ETP) trade volumes averaged at $3 billion per week in previous years, 2023 has seen a significant drop to $1.5 billion. Yet, the share of ETPs continues to climb, averaging around 11%, surpassing the historical average of 3.4%, and exceeding levels witnessed during the previous bullish market.
Crypto Landscape Overview
Bitcoin (BTC) retains its dominant position, attracting $155 million in investments over the past week, while shorts experienced an outflow of $8.5 million. Among altcoins, notable inflows were seen in Solana (SOL), Ethereum (ETH), and Avalanche (AVAX) with $13.6 million, $3.3 million, and $1.8 million, respectively. Conversely, experts noted significant outflows from Uniswap (UNI), with $0.55 million withdrawn, and Polygon (MATIC) with a negative $0.86 million.
