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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 26, 2023 06:25 UTC
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Global Crypto Market’s $24.2 Billion Inflows Shatter Records! Bull Run Incoming?
Major influx of $24.2 billion, highest since December 2021. BTC, ETH, and SOL see strong individual gains.
Bitcoin ETF nearing approval fuels investment, despite mixed signals. Bitwise and Hashdex campaigns boost market sentiment.
Germany, Canada, US, Switzerland, and Brazil lead in crypto fund inflows, contributing to overall market surge.
There’s no holiday lull here! The crypto market recently saw an outstanding capital influx of $24.2 billion, marking the highest since December 2021. As the deadline for the Spot Bitcoin ETF nears, Bitcoin, Ethereum, and Solana are leading the charge, gobbling up a combined $103 million in just one week.
Dive in further to understand this historic surge!
Ali’s Key Findings
Chart analyst Ali recently shared on X platform about this remarkable influx, highlighting its significance. This impressive $24.2 billion influx not only breaks recent records but also echoes the high capital inflows seen back in December 2021.
Rising Interest in Digital Assets
Investment in digital asset products is on an upward trend, signaling a notable market shift. Bitcoin led the charge with significant inflows, including a $0.4 million into short-bitcoin and a month-to-date total of $12.5 million.
Despite ongoing skepticism surrounding the decision on a spot Bitcoin ETF, the market witnessed a resurgence in funds following new advertising efforts by Bitwise and Hashdex for Bitcoin ETFs.
Read More: Breaking News: SEC Sets Deadline for Spot Bitcoin ETF Applicants
Ethereum also saw positive growth, securing $7.9 million in inflows. This indicates strong investment interest and a rising demand for Ethereum’s staking returns. Meanwhile, Solana attracted a weekly influx of $6 million and a noteworthy month-to-date total of $20.1 million, positioning itself as the third-largest among altcoins.
Global Inflow Trends
Leading the way in crypto asset fund inflows are countries like Germany, Canada, the U.S., Switzerland, and Brazil. Their active participation has significantly contributed to the global crypto fund surge.
What Lies Ahead?
With the crypto market witnessing this historic capital inflow, many industry experts are speculating on its future implications. Ali’s findings, however, underscore the crypto industry’s enduring strength and its growing acceptance in mainstream finance.
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