Ethereum

Bitcoin

Optimism

Ethereum has seen the greatest advantage from the recent market downturn as investors appeared to have viewed the price weakness as a buying opportunity.
In fact, data suggests that Ethereum has managed to attract $155 million in inflows over the past week. According to CoinShares, the latest round of inflows boosted its year-to-date total inflows to $862 million, the highest since 2021, primarily fueled by the recent introduction of US spot-based ETFs.
<h2 id="inflows-rebound">Inflows Rebound</h2>
Besides Ethereum, the positive sentiment is evident for other crypto assets as well. Bitcoin, for one, saw a significant increase in inflows toward the end despite initial outflows at the start of the week, bringing the weekly total to $13 million.
On the other hand, short Bitcoin ETPs recorded their largest outflows since May 2023, totaling $16 million (23% of AuM), which has dropped their AuM for short positions to the year’s lowest level, indicating a major investor exit.
CoinShares’ Digital Asset Fund Flows Weekly <a href="https://blog.coinshares.com/volume-195-digital-asset-fund-flows-weekly-report-e29fcaa8713d" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Report</a> disclosed that the positive trend also extended to investment products related to Solana, XRP, and Cardano, which received weekly inflows of $4.5 million, $0.7 million, and $0.6 million, respectively.
Zooming out, digital asset investment products collectively experienced $176 million in inflows as investors perceived recent price declines as a chance to buy. Although the Total Assets under Management (AuM) for these products had dropped to $75 billion – losing more than $20 billion during the market correction – it has since rebounded to $85 billion as per CoinShares’ estimates.
Meanwhile, trading volume in Exchange-Traded Products (ETPs) surged to $19 billion for the week, surpassing the $14 billion weekly average seen this year.
<h2 id="global-optimism-boosts">Global Optimism Boosts</h2>
CoinShares also revealed an unusual trend of inflows from every region last week. This indicated a collective optimism towards the asset class following the recent price dip. The most significant inflows came from the US, Switzerland, Brazil, and Canada, totaling $89 million, $21.3 million, $20 million, and $19.2 million, respectively.
Additionally, Germany, Australia, and Sweden saw $12.6 million, $5.9 million, and $5.1 million, respectively, in weekly inflows. Despite this, the US remains the sole country with net outflows for the month with $306 million.
The post <a href="https://cryptopotato.com/ethereum-leads-market-recovery-with-155m-inflows-amid-recent-downturn/" rel="noopener noreferrer nofollow">Ethereum Leads Market Recovery with $155M Inflows Amid Recent Downturn</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ethereum Leads Market Recovery with $155M Inflows Amid Recent Downturn

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