{"id":70596,"date":"2021-10-13T11:22:14","date_gmt":"2021-10-13T09:22:14","guid":{"rendered":"https:\/\/test2023.luxus-plus.com\/?p=70596"},"modified":"2021-10-13T11:22:14","modified_gmt":"2021-10-13T09:22:14","slug":"inflows-to-cryptocurrencies-up-for-eighth-week-in-a-row","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/inflows-to-cryptocurrencies-up-for-eighth-week-in-a-row\/","title":{"rendered":"Inflows to cryptocurrencies up for eighth week in a row"},"content":{"rendered":"

Cryptocurrencies attracted $226.2 million in investment last week, marking their eighth consecutive week of inflows, revealed a report from digital asset manager CoinShares.<\/h4>\n

<\/h4>\n

 <\/p>\n

Over the eight-week period, total crypto inflows<\/strong> reached $638 million, for a cumulative total of $6.3 billion.<\/p>\n

 <\/p>\n

Bitcoin<\/strong> predictably led the way for other digital currencies, taking in $225 million in inflows<\/strong>, according to data for last week. The cryptocurrency also reached a value of $58,000 on Monday, boosted by persistent institutional demand<\/strong> as its legitimacy<\/strong> among investors<\/strong> continues to grow. On Tuesday, the world’s largest cryptocurrency by market value lost 3.6% of its value, to $55,402. Yet since the June low when its value fell to $28600, Bitcoin has seen its value rise by around 88%.<\/p>\n

 <\/p>\n

“We believe that the turnaround in sentiment towards Bitcoin<\/strong> is due to constructive statements by SEC Chairman Gary Gensler<\/strong>, which has potentially enabled a Bitcoin ETF<\/strong> (exchange traded fund) in the US<\/em>,” wrote James Butterfill<\/strong>, investment strategist at CoinShares<\/strong>.<\/p>\n

 <\/p>\n

At a conference a few weeks ago, US Securities and Exchange Commission Chairman Gary Gensler<\/strong> reiterated his support for Bitcoin ETFs<\/strong> that would invest in futures contracts instead of the digital currency itself.<\/p>\n

 <\/p>\n

In addition, blockchain data provider Glassnode<\/strong>, in its latest note, said that Bitcoin<\/strong> saw an increase in network activity in the first week of October, suggesting that new demand is starting to enter the fourth week of data.<\/p>\n

 <\/p>\n

Ethereum<\/strong>, meanwhile, saw minor outflows of $14 million as it continues to lose market share to Bitcoin. Other alternative cryptocurrencies, such as Solana<\/strong> or Cardano<\/strong>, recorded inflows of $12.5 million and $3 million respectively.<\/p>\n

 <\/p>\n

 <\/p>\n

Read also > CHINA BANS BITCOIN, HONG KONG STOCK MARKET PLUNGES<\/a><\/p>\n

 <\/p>\n

Featured photo : \u00a9 QuoteInspector.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrencies attracted $226.2 million in investment last week, marking their eighth consecutive week of inflows, revealed a report from digital asset manager CoinShares.<\/p>\n","protected":false},"author":1,"featured_media":70600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"%%post_title%% %%sep%% %%sitetitle%%","_seopress_titles_desc":"Cryptocurrencies attracted $226.2 million in investment last week, marking their eighth consecutive week of inflows.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"United States,CoinShares,Inflow,Bitcoin,Ethereum,Solana,Cardano,Cryptocurrency,Cryptocurrencies","footnotes":""},"categories":[24,5868],"tags":[22419],"class_list":["post-70596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-retail","tag-news-en"],"_links":{"self":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/70596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/comments?post=70596"}],"version-history":[{"count":0,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/posts\/70596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media\/70600"}],"wp:attachment":[{"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/media?parent=70596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/categories?post=70596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/luxus-plus.com\/en\/wp-json\/wp\/v2\/tags?post=70596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}