đ„đ„Cryptocurrency Investments Achieved $1.2 Billion Growth đ„đ„
Cryptocurrency investment instruments reached a total of $1.2 billion with positive inflows for the third week in a row. It is considered that this increase is due to the expected loose monetary policy in the US and the price movements related to it. In addition, option approvals for some US-based crypto investment products increased investor confidence. Ethereum ended its five-week downtrend and started to show signs of recovery; however, fluctuations in the altcoin market created uncertainty among investors.
The total investment in cryptocurrency investment products in the last three weeks reached $1.2 billion. The most important reason for this increase is the expectations of loose monetary policy in the US and the acceleration of price movements within this framework. In addition, the approval of options for some US-based crypto investment products reinforced confidence in the market. While assets under management increased by 6.2% last week, there was a 3.1% decrease in transaction volume.
Inflows to Bitcoin investment products reached $1 billion, and $8.8 million inflows were also made to investment instruments where short positions can be taken. Ethereum ended its five-week decline period and gave a positive signal with an inflow of $87 million; it recorded the first significant inflows since the beginning of August.
Solana was the cryptocurrency with the biggest loss with an outflow of $4.8 million, while Litecoin and XRP showed positive performance with inflows of $2 million and $800 thousand, respectively. On the other hand, BNB and Stacks lost value with outflows of $1.2 million and $900 thousand.
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