The digital asset market, my friends, continues to amuse with its modest $6 million in inflows last week. Oh, joy. Seems like everyone’s got mixed feelings about the whole thing. Like a bad relationship, you know?
At the start of the week, we saw some small, hopeful inflows, but then came mid-week – enter stronger-than-expected US retail sales. According to CoinShares, that was enough to cause a dramatic $146 million in outflows. If only we could all be as quick to exit bad investments as the market is to exit Bitcoin…
And here’s the kicker: Bitcoin led the way with the largest flows, but, just like a moody teenager, it couldn’t decide if it loved or hated itself. Ending the week with a modest $6 million outflow. Oh, and let’s not forget about short Bitcoin products, which, once again, couldn’t catch a break, with another $1.2 million in outflows. That’s $36 million lost in just seven weeks. A lovely 40% of assets. Really, who needs a piggy bank when you have crypto?
Then there’s Ethereum. Poor Ethereum. Another $26.7 million outflow last week, pushing its total losses over the past eight weeks to $772 million. But hey, don’t worry! It’s still the second most popular coin for year-to-date flows with a lovely $215 million in inflows. Because nothing says “I’m doing great” like losing nearly a billion dollars and still being number two. Cheers!
Meanwhile, SUI managed to scrape together a small inflow of $1.1 million. Good for them, I guess. Let’s all raise a glass to that one.
Now, in the world of surprises, we have XRP. Yes, the underdog. With $37.7 million in inflows last week, it somehow managed to become the third most successful asset this year. But hey, don’t get too excited. It’s only $214 million in YTD inflows. That’s practically pocket change in the world of crypto. But still, applause for effort!
Multi-asset products added another $3.1 million, while Solana and Cardano each saw a paltry $0.3 million. So much for diversification, huh? I guess not everyone got the memo.
Across the globe, the United States decided to go big and dump $71 million, dragging the monthly outflow down to a staggering $995 million. Meanwhile, Europe and Canada were out there flexing with some positive sentiment. They’re clearly doing something right, and it sure isn’t trying to follow the US’s lead.
As for Switzerland, it led the charge with $43.7 million in inflows. Germany wasn’t far behind with $22.3 million. Canada threw in $9.4 million, Sweden added $2.1 million, and Australia tried, with $1.2 million. Meanwhile, Brazil quietly slipped in with the smallest inflow of $0.7 million, like that one guy at the party who just stands in the corner sipping his drink, hoping no one notices.
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2025-04-24 01:45