Bitcoin continues to lead the pack in relation to the amount of new capital flowing into the market. Coinshares weekly report, released on October 11th, shows that the inflow of funds to Bitcoin actually doubled from the first week of October from $90 million to an impressive inflow of $225 million in the second week. That marks eight straight weeks of positive inflows for BTC with bullish sentiment continually growing.
The steady inflow of funds entering into the crypto markets over the start of October has shown that the crypto community viewed China’s ban on cryptocurrencies, which went into effect during the final week of September, as little more than a small bump in the road. In a continued show of strength, Coinshares data also show that over the past two months aggregated new inflows of funds almost set new all time highs adding while $638 million to crypto markets during that period.
Several other coins also saw positive inflows over the past week, with Solana adding $12.5 million and Cardano pulling in $3 million. Ethereum bucked the trend and actually saw an outflow of $14 million.
With U.S. regulation of crypto markets getting closer by the day combined with recent positive comments from the SEC regarding the future of cryptocurrencies, retail and institutional investors alike have shown a renewed level of confidence highlighted by the near record inflows. Many believe that further regulation might aid in calming some of the extremes that crypto investors have come to know and offer new levels of protection for investors. This could all lead to a massive influx of both investors that have stayed on the sidelines of crypto in general and a large inflow of new money from the institutional sector.
Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of the content on this site such. We do not recommend the purchase, sale, or holding of any cryptocurrency or other product. None of our content should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please consider doing your own research and prioritize consulting a certified financial professional before making any investment decisions.
All Rights Reserved. Copyright © 2021 CryptoSauceNews