The digital asset manager CoinShares said yesterday that cryptocurrency products and funds showed a net inflow last week amid a mixed picture of investment flows over the week when prices decline.
This year, the inflow amounted to $9.5 billion, and there are still two weeks left until 2021. In 2020, the total inflow of cryptocurrencies amounted to $ 6.7 billion.
Last week, Bitcoin recovered slightly, showing a small increase of 1.3% over the period after a sharp drop of 14% the week before last.
CoinShares data showed that Bitcoin managed to show an influx of $51 million, this is the 13th week in a row, resulting in a net amount of $6.5 billion for the current year.
Since reaching a record high of $69,000 on November 10, the world's largest cryptocurrency has fallen by 32%.
However, Bitcoin remains a bearish trend despite a slight recovery in inflows. Price stabilization, or momentum in the opposite direction, has also not yet been observed.
It is possible that the price decline will last another 4-6 days before the price stops.
Ethereum showed a minor outflow totaling $17 million last week, for the first time after six weeks of inflows, although it reflects only 0.09% of assets under management. CoinShares thinks it probably doesn't make sense.
Other digital assets, such as Solana and Tron, showed inflows of $19 and $17 million, respectively.
CoinShares noted that the recent price increase for the decentralized operating system based on the open-source blockchain Tron, which was called the "world computer coin", led to an increase in its total aggregate amount of assets and funds associated with the token to $ 92 million, which is higher than that of the public blockchain Cardano.
The data also showed that trading volumes of investment products fell by 13%, or to $ 3 billion over the week.
