Bitcoin and Cardano Skyrocket With 716% Increase in Fund Flows
๐ฒ๐ค Massive Inflows into Digital Assets!
In the latest review by CoinShares, digital asset investment products saw an **astonishing increase** in inflows, totaling **$932 million**โa **716% rise** from the previous week's $130 million! ๐ค
Key Highlights:
- **Bitcoin (BTC)** led the charge with a whopping **$942 million** in ETF inflows, underscoring its dominance. Bitcoin products have now accumulated **$13.85 billion** in inflows this year! ๐
- **Altcoins in the Spotlight**:
- **Cardano (ADA)** recorded inflows of **$1.9 million**, a huge jump from zero the previous week. Total ADA ETP investments reached **$10 million** for 2024. ๐
- **Solana (SOL)** and **Chainlink (LINK)** also saw significant inflows of **$4.9 million** and **$3.7 million**, respectively. ๐
Meanwhile, **Ethereum (ETH)** faced outflows of **$23 million** due to SEC-related uncertainties. ๐ฌ
๐ This surge followed a better-than-expected CPI report, linking crypto prices with interest rate expectations. With **89% of total inflows** happening in the last three trading days of the week, investor confidence in BTC and ADA is clearly on the rise! ๐๐น
Stay tuned for more updates on the dynamic world of digital assets! ๐
#CryptoWatchMay2024 #BitcoinUpdate #CardanoPredictions #Solana