A new report from CoinShares reveals buying opportunities in the market totaling $441 million in digital asset investment products over the past week. 

The July 8 report also highlighted $398 million inflows into Bitcoin. According to CoinShares, Bitcoin price weakness, coupled with activity from Mt. Gox and selling pressure from the German government, may have prompted investors to rush into buying.

Source: CoinShares

Capital inflows were mainly from the United States with $384 million, followed by Hong Kong ($32 million), Switzerland ($24 million) and Canada ($12 million), while Germany saw Capital outflow was $23 million.

Last week was a big one for now-collapsed Japanese cryptocurrency exchange Mt. Gox, on July 5, transferred more than 47,000 BTC, or $2.7 billion at the time, to an unknown wallet address shortly after it began repaying creditors.

On the same day, repayments began in both Bitcoin and Bitcoin Cash to selected creditors through designated cryptocurrency exchanges as outlined in the Mt. Gox.

Conditions for repayment include confirmation of the validity of the account and acceptance of the intention to sign the Agency Receipt Agreement* through the cryptocurrency exchanges designated by the creditors intended for repayment.

Some analysts speculate that the majority of former creditors of Mt. Gox could sell their Bitcoin , as its value has increased over 8,500% since the exchange collapsed.

During the same week, the German government transferred 3,000 BTC to various cryptocurrency exchanges and an unknown wallet, equivalent to approximately $172 million at the time of writing.

The CoinShares report also highlighted inflows into Bitcoin, which amounted to about $398 million and accounted for about 90% of total inflows, with investors eyeing “a broader range of altcoins.” 

This helped Solana rake in $16 million last week and become the “best performing altcoin” from a cash flow perspective, with $57 million year-to-date (YTD). Ethereum (ETH) saw $10 million in inflows during the same time period.

*Agency Receipt Agreement is understood as a note-holding contract or an agreement relating to the holding, management, and handling of notes, documents, or assets for a third party (agent) on behalf of the party. owner (sender).

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