Bitcoin records tributaries in the third week in a row and remains the focus of the investors, while Ethereum only slightly benefits from the improved investment mood

Bitcoin records tributaries in the third week in a row and remains the focus of the investors, while Ethereum only slightly benefits from the improved investment mood

The leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) recorded tributaries in the past week, while the short positions for BTC and ETH recorded drains. This is shown by the current report by CoinShares.

According to the report, the inflows from investment products for digital assets were amounted to a total of $ 136 million last week. This was already the third week in a row, in which inflows were recorded, which resulted in the total inflows to $ 470 million. Coinshares states that the inflows have reached a net value of $ 231 million since the beginning of the year.

Coinshares emphasizes that this period was characterized by a decline in trade sales despite the inflows. While the average trade turnover in the two weeks earlier was $ 2.5 billion, trade sales in the past week only amounted to $ 1 billion. This decline could be due to seasonal effects during the summer months.

Bitcoin continues to dominate the interest of investors because the King of Cryptocurrencies recorded tributaries of $ 133 million last week. This accounts for 98 % of the total inflows during this period. Although the BTC price hardly changed during this period, an increase in inflows was nevertheless recorded by 8 %. Overall, Bitcoin's net inflows have been $ 290 million since the beginning of the year, and the assets managed is $ 25 billion.

, on the other hand, recorded Short-Bitcoin products last week of $ 1.18 million, which corresponds to the 11th consecutive drain in recent weeks. Nevertheless, it turns out that short-bitcoin products with a total of $ 58 million have recorded the second highest inflows since the beginning of the year.

Ethereum also recorded tributaries in the past week, but to a lesser extent as BTC. A total of $ 2.9 million in ETH flowed, but Coinshares finds that Ethereum has only slightly benefited from the improved investment mood. Compared to Bitcoin, the inflows at Ethereum only make up 0.2 % of the assets managed, compared to 1.9 % in Bitcoin. Since the beginning of the year Ethereum has still had a negative net inflow of $ 63 million.

among the other old coins of $ 1.2 million, Ripple (XRP) $ 900,000, polygon (MATIC) $ 800,000 and Litecoin (LTC) $ 500,000. At Cosmos (atom) and Cardano (ADA) there were minor drains.

Overall, the report shows that the inflows in digital assets continue to stop, especially at Bitcoin, while Ethereum still has difficulty benefit from the positive mood. It remains to be seen how the market will develop in the coming weeks.