Ether records inflows worth $21M after nine-week slump, Bitcoin posts similar gains
Unlike Bitcoin, which has been recording steady inflows for the fourth week straight, Ethereum finally surpassed inflows worth $21 million for the week ending February 11. The largest altcoin had been in a slump for nine consecutive weeks before posting noteworthy inflows.
According to a CoinShares’ weekly fund flows report, the collective cryptocurrency market posted inflows worth $75 million for the week ending last Friday. Of the total, Bitcoin recorded inflows totaling US$25m last week, suggesting a recovery from January’s downturn.
The largest cryptocurrency by market capitalization was trading at $44,084.60, up by 4.44% from the previous day. Ethereum, on the other hand, is recording significant returns at press time, trading around $3,098 with a 24-hour price change of 8.52%.
Region-wise, America remained bearish last week after posting outflows worth $5.5 million whereas the European investment products surpassed $80 million in inflows.
“Multi-asset (coin) investment products remain popular with inflows totalling US$19m last week, while Solana and Ripple saw inflows totalling US$3.1m and US$2m respectively,” the report further revealed.
In addition, Terra, Tezos, and Cosmos saw inflows worth $2.2 million, $0.9 million, and $0.6 million, respectively.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Damien Martin, @Khareem Sudlow
