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Investors Continue to Take Profit on ETH While Pouring Money in SOL and A Record .45B in BTC

J_News by J_News
October 26, 2021
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Investors Continue to Take Profit on ETH While Pouring Money in SOL and A Record .45B in BTC
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Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin

  • AnTy
  • October 26, 2021

After weeks of slow activity, finally, the inflows in the cryptocurrency industry have come rushing in.

For the week ending October 22, crypto investment products saw record inflows totaling a whopping $1.47 billion, according to CoinShares’ weekly report. The previous weekly record was at $640 mln seen earlier this year in February.

This has been the 10th straight week of inflows as optimism soared with the debut of bitcoin futures ETFs. This also brings in year-to-date inflows to $8 bln, far exceeding the entire 2020 record of $6.7 billion.

Last week, crypto-asset prices also surged, with Bitcoin hitting a new ATH at $67,000 and Ether coming close to surpassing its ATH at $4,380.

With prices rising, total assets under management of asset managers also hit a record of $79.2 billion but ended the week at $76.7 billion.

Grayscale, the largest digital asset manager’s AUM, climbed to $54.6 bln while CoinShares’ AUM went up to $5.2 bln.

image1

Much like the last six weeks in a row, this time as well, Bitcoin accounted for the majority of these inflows. With $1.45 billion flowing in the $1.2 trillion cryptocurrency, its YTD inflows now amount to $6.1 billion.

“Bitcoin hitting new all-time highs shows both how far we’ve come and the capacity bitcoin has to upend the financial system and create a global economy, linking the developed and emerging markets like never before,” said Ray Youssef, co-founder, and CEO of peer-to-peer fintech platform Paxful.

“While this recent price rally can be attributed to movements like the approval of the first bitcoin ETF for institutional investors, we can’t ignore the impact of significant development and adoption in emerging markets,” he added.

This week, for the third time consecutively, Ethereum had outflows, but again it has been minor at $1.4 million. The outflows could be attributed to minor profit-taking as the price stays near ATH above $4,200.

Meanwhile, other cryptos continue to see inflows, with Solana (SOL) recording the highest among altcoins at $8.1 million, bringing in its YTD flows at $130 mln — fourth highest after Bitcoin (BTC), Ether’s (ETH) $1 bln, and $401 mln by multi-asset product. BTC -3.38% Bitcoin / USD BTCUSD $ 60,606.35
-$2,048.49-3.38%
Volume 35.19 b Change -$2,048.49 Open $60,606.35 Circulating 18.86 m Market Cap 1.14 t
9 h The Korea Teachers’ Credit Union with Over $40 Billion in Assets Is Investing in A Bitcoin ETF 11 h Ray Dalio Chooses a Mix of Bitcoin and Gold for a Rainy Day While BlackRock CEO & Goldman Chair Prefer USD 13 h SEC Chair Gary Gensler Pours Cold Water On the Possibility of Bitcoin Spot ETF
ETH -0.83% Ethereum / USD ETHUSD $ 4,200.10
-$34.86-0.83%
Volume 17.25 b Change -$34.86 Open $4,200.10 Circulating 118.09 m Market Cap 496 b
9 h The Korea Teachers’ Credit Union with Over $40 Billion in Assets Is Investing in A Bitcoin ETF 9 h CRV Pumps to Lead DeFi as Curve Finance Hits $100 Billion in Overall Volume 13 h Crypto is “More Of An Asset Class” As Such, No Crypto-linked Card Coming “Any Time Soon,” says American Express CEO
SOL -2.80% Solana / USD SOLUSD $ 203.11
-$5.69-2.80%
Volume 3.13 b Change -$5.69 Open $203.11 Circulating 301.1 m Market Cap 61.16 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 1 d Despite ETH Hitting A New ATH, Ethereum’s DeFi Market Share Drops by 30% in the Past Year 5 d FTX Raises $420M in Series B From 69 Investors, Valuation Hits $25 Billion

Last week, Cardano (ADA) and Binance (BNB) also posted notable inflows at $5.3 mln and $1.8 mln, respectively. Litecoin (LTC) meanwhile had $0.6 mln, Polkadot (DOT) $0.4 mln, and both Ripple (XRP) and Bitcoin Cash (BCH) had $0.3 mln in inflows each. ADA -2.15% Cardano / USD ADAUSD $ 2.15
-$0.05-2.15%
Volume 2.79 b Change -$0.05 Open $2.15 Circulating 33.26 b Market Cap 71.34 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 1 d Elon Musk Supports the “People’s Crypto” the Original Meme Coin DOGE, But SHIB is the One Dominating Binance and Coinbase 1 w Sports Betting Platform DraftKings to Become Polygon Network Validator & Support Custom NFTs Drops in Marketplace
BNB -1.01% Binance Coin / USD BNBUSD $ 481.98
-$4.87-1.01%
Volume 1.49 b Change -$4.87 Open $481.98 Circulating 166.8 m Market Cap 80.39 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 1 d Elon Musk Supports the “People’s Crypto” the Original Meme Coin DOGE, But SHIB is the One Dominating Binance and Coinbase 1 w Over 160 Projects Are Launching on Terra by Early Next Year to ‘Amplify Demand for UST’ and Send it to $10 Bln, says Founder
LTC 4.24% Litecoin / USD LTCUSD $ 204.50
$8.674.24%
Volume 2.45 b Change $8.67 Open $204.50 Circulating 68.84 m Market Cap 14.08 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 4 d Walmart is Running Pilot Program to Allow Users to Buy Bitcoin at 200 Coinstar Kiosks Across the US 1 w Interactive Brokers Launches Bitcoin, Ethereum, and Crypto Trading for RIAs in the US
DOT 1.29% Polkadot / USD DOTUSD $ 44.78
$0.581.29%
Volume 1.83 b Change $0.58 Open $44.78 Circulating 987.58 m Market Cap 44.22 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 6 d Cosmos Unveils New Blockchain, Sagan, A Canary Network to Allow Developers to Run Tests And Experiments 1 w Circle’s Stablecoin USDC Launches on Hedera Hashgraph’s Network
XRP -0.31% XRP / USD XRPUSD $ 1.12
$0.00-0.31%
Volume 3.85 b Change $0.00 Open $1.12 Circulating 47.02 b Market Cap 52.57 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 1 w Ripple Joins The Digital Pound Foundation to Help In The Development of A CBDC In the United Kingdom 1 w Australian Stock Exchange (ASX) to List Crypto-Focused ETF on ‘Growing’ Investor Demand
BCH -1.92% Bitcoin Cash / USD BCHUSD $ 611.72
-$11.75-1.92%
Volume 1.28 b Change -$11.75 Open $611.72 Circulating 18.88 m Market Cap 11.55 b
14 h Investors Continue to Take Profit on Ether While Pouring Money in Solana and A Record $1.45 Billion in Bitcoin 1 w Interactive Brokers Launches Bitcoin, Ethereum, and Crypto Trading for RIAs in the US 2 w Robinhood Cites Regulatory Actions or Policies Towards Crypto as Business Risk in Filing

 

AnTy

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.



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