Skip to main content

Market Overview

Unstoppable Bitcoin Reigns Supreme With Incredible Inflows, Dominating Altcoins Like Uniswap, Polkadot, Polygon

Share:
Unstoppable Bitcoin Reigns Supreme With Incredible Inflows, Dominating Altcoins Like Uniswap, Polkadot, Polygon

According to data, digital asset investment products saw inflows totaling $57 million last week, bringing flows back to a net inflow position year-to-date.

The U.S. saw the most inflows at $27 million, while Germany, Switzerland and Canada also experienced inflows of $17 million, $13 million and $2.2 million, respectively.

Despite the positive sentiment, volumes were low at $970 million for the week, and global Bitcoin (CRYPTO: BTC) exchange market volumes were just 25% of the year-to-date average at $18 billion for the week.

The primary focus of the inflows was Bitcoin with $56 million in inflows representing 98% of all inflows.

Also Read: BRICS World Currency Takeover: Is This The End Of Traditional Money?

Seven altcoins saw minor inflows with Uniswap (CRYPTO: UNI), Polkadot (CRYPTO: DOT), and Polygon (CRYPTO: MATIC) leading the pack.

Despite the Shapella upgrade on the Ethereum (CRYPTO: ETH) network on April 12, inflows have been relatively minor at $0.6 million.

Blockchain equities experienced minor inflows of $2.1 million.

Read Next: FTX's Meteoric Ascent And Downfall: New Report Details Extensive Arrogance And Greed

Photo: Shutterstock

 

Related Articles ($BTC + $DOT)

View Comments and Join the Discussion!

Posted-In: altcoins Bitcoin blockchain equities Digital Assets global bitcoin exchangeCryptocurrency News Markets Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com