Inflows into crypto resumed with $103m over the last week

2023-12-25 12:44:38

Coinshares analysts published their following weekly report on financial flows in crypto products, according to which the influx of capital has resumed.

According to a report published by the Head of Research at Coinshares, last week from Dec. 18 to 24, the inflow into crypto products amounted to $103 million.

In geographical terms, the leaders in investment were Germany, Canada, and the USA, where the influx of money amounted to $41.6 million, $25.8 million, and $20.4 million, respectively.

As before, a significant capital inflow came from Bitcoin (BTC), amounting to $87.6 million. Analysts also observed minor inflows into short BTC for $0.4 million. The leader among altcoins was Ethereum (ETH), with an influx of $7.9 million.

Notably, analysts recorded a minor outflow of $16 million from cryptocurrency investment products last week. The negative dynamics can be explained by profit-taking rather than a change in sentiment, according to CoinShares.

Trading activity on the crypto market remained above the annual average, ending the week at $3.6 billion. The worst performers were products focused on Bitcoin. Of these, $33 million were withdrawn. The outflow from short positions on BTC amounted to $0.3 million.

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