Inflows into crypto financial investment items have been experiencing an uptick for six consecutive weeks, topping $500 million, according to a report by market insight company CoinShares.
The research study called “Volume 92: Digital Asset Fund Flows Weekly Report” highlighted:
“Digital asset investment products saw inflows totalling US$3m last week marking the 6th consecutive week of inflows that total US$529m, representing 1.7% of total assets under management (AuM).”
CoinShares kept in mind that continuous inflows are occurring in spite of the crash in the crypto market saw in the 2nd quarter of 2022.
As the much-anticipated combine in the Ethereum network edges better, more inflows have been dripping into the second-largest cryptocurrency. The report mentioned:
“Ethereum saw inflows totalling US$16m and is enjoying a near 7 consecutive week run of inflows totalling US$159m. We believe this turn-around in investor sentiment is due to greater clarity on the timing of The Merge.”
The combine, which is anticipated to take place on September 19, will alter the existing proof-of-work (PoW) structure to a proof-of-stake (PoS) agreement system. Moreover, it’s hypothesized to be the most significant software application upgrade in the Ethereum community.
American international financial investment bank Citi just recently kept in mind that the combine would make Ethereum a “yield-bearing asset,” Blockchain.News reported.
On the other hand, CoinShares kept in mind that in spite of belief in the crypto market improving, trading volumes stayed low the previous week at $1.1 billion compared to the year-to-date weekly average of $2.4 billion.
“Bitcoin saw very minor outflows totalling US$8.5m while short-Bitcoin investment products saw a record outflow totalling US$7.5m, and for the second consecutive week suggesting investors believe Bitcoin prices have troughed,” CoinShares included.
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