Crypto news

Cryptofunds have increased the volume of funds

The volume of funds in cryptocurrency investment products for the week increased by $87 million. Such data are given by analysts CoinShares.

A week earlier, owners of cryptocurrency instruments reduced their positions by $141.2 million.

Mixed dynamics is observed since April. The inflow of funds to cryptocurrency funds since the beginning of the year reached $0.52 billion. For comparison, in 2021 at the same stretch the figure was $5.9 billion.

Products based on the first cryptocurrency attracted $69.4 million and $369 million since January.

In value terms, they reached their lowest valuation since July 2021 ($24.7 billion).

The outflow of funds from Ethereum funds continued. It was $11.6 million in seven days and $250 million since the beginning of the year.

Investors remain interested in multi-asset products. Investments in them for a week increased by $4.8 million, since the beginning of the year – by $191 million.

The increase in funds in another popular direction for investments, Solana-based funds, amounted to $1.8 million and $104 million, respectively.

Analysts noted a record interest in products based on Algorand – the inflow of funds for the week amounted to $20 million. They attributed it to the launch of new tools in the ecosystem.

Digital asset investment products saw inflows totalling US$87m last week, pushing year-to-date inflows just past the half a billion mark to US$0.52bn. Algorand saw record inflows last week totalling US$20m, likely triggered by new product launches.

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