Crypto inflows record four-fold gains from last week, investor sentiment improves
The cryptocurrency market for the week ending February 4 saw inflows catching on to the market trend. Cryptocurrencies recorded inflows worth $85 million for the week, four times higher than the last week’s inflows of $19 million, CoinShares revealed...
The cryptocurrency market for the week ending February 4 saw inflows catching on to the market trend. Cryptocurrencies recorded inflows worth $85 million for the week, four times higher than the last week’s inflows of $19 million, CoinShares revealed in its weekly report Monday.
Of the total inflows, Bitcoin recorded $71 million in inflows as the currency looks to recover from January blues. The currency saw an uptick on February 4, jumping from $37,000 to $40,000 levels. At press time, Bitcoin was recovering at $44,376.55, up by 3.58% from yesterday.
Meanwhile, a stark difference was seen between Bitcoin and Ethereum after the altcoin recorded $8.5 million in outflows for the week. The second-largest currency was trading at $3,188.58 with a 24-hour price change of +2.94%.
The report also pointed out the region-wise distribution of inflows and outflows. “While Europe has seen inflows (US$10.3m), the majority has been from the Americas, particularly Brazil and Canada (US$75m),” it noted.
Other known altcoins, Solana, Polkadot, and Cardano saw inflows worth $2.4 million, $2.2 million, and $1.1 million, respectively. For the first time, Terra recorded significant inflows, worth $1.4 million for the week.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
