Coinshares, the publisher of its weekly cryptocurrency report, disclosed that there was a $598 million influx in the past week.

While Bitcoin remains stable, Ethereum continues its upward trajectory. During this period of uncertainty for investors regarding market movements, Coinshares released its weekly cryptocurrency report. According to the report, cryptocurrency investment products witnessed an influx of $598 million last week, marking the fourth consecutive week of continued inflows. Among individual crypto funds, Bitcoin dominated with inflows totaling $569 million, representing over 90% of the total inflows, whereas Ethereum (ETH), the leading altcoin, saw inflows of $16.8 million. Additionally, the Bitcoin Short fund observed a $3.9 million influx, correlating with BTC's decline.

In terms of other altcoins, Litecoin (LTC) attracted $1.0 million in inflows, while XRP saw $1.1 million. Conversely, Solana (SOL) experienced an outflow of $3.0 million.

Coinshares stated, "Bitcoin witnessed $570 million in inflows last week, bringing year-to-date inflows to $5.6 billion. However, recent price surges prompted minor inflows into short Bitcoin positions, totaling $3.9 million. Ethereum saw $17 million in inflows last week, whereas Chainlink and XRP saw inflows of $1.8 million and $1.1 million respectively. The recent disruptions in Solana likely impacted sentiment, resulting in an outflow of $3 million."

Regarding regional fund flows, the USA led with an inflow of $609 million, followed by Brazil with $8.2 million. However, Canada experienced an outflow of $17.8 million amidst these inflows. #BTC #TrendingTopic #Cryptocurrencies #AltcoinBoom #Altcoins2024