Crypto Investments See Influx of Capital
According to a recent report by Coinshares, the influx of capital into crypto products has resumed. The report states that last week, from December 18th to 24th, a total of $103 million flowed into these products.
Geographical Distribution of Investments
Germany, Canada, and the USA were the top three countries in terms of investment. Germany saw an influx of $41.6 million, followed by Canada with $25.8 million, and the USA with $20.4 million.
Main Players: Bitcoin and Ethereum
The majority of the capital inflow came from Bitcoin (BTC), which amounted to $87.6 million. There were also minor inflows into short BTC positions, totaling $0.4 million. Ethereum (ETH) was the leading altcoin with an influx of $7.9 million.
Minor Outflow and Trading Activity
Despite the overall positive trend, there was a minor outflow of $16 million from cryptocurrency investment products. CoinShares suggests that this may be due to profit-taking rather than a change in sentiment.
The trading activity in the crypto market remained above average, reaching $3.6 billion by the end of the week. However, products focused on Bitcoin experienced a withdrawal of $33 million, including a $0.3 million outflow from short positions on BTC.
Hot Take: Crypto Investments Show Resilience
The recent influx of capital into crypto products indicates a continued interest in this market despite some minor setbacks. Germany, Canada, and the USA are leading the way in terms of investment, highlighting the global appeal of cryptocurrencies.
Bitcoin remains the dominant player, attracting the majority of capital inflow. However, Ethereum is also gaining traction as an alternative investment option. The overall trading activity in the crypto market remains strong, demonstrating resilience and potential for future growth.
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