Breaking News: A record $17.8 in investments has been reached by all crypto assets. This represents the total sum of money injected into buying digital cryptocurrencies of all kinds, 9AM News Nigeria can reveal.
This significant inflow beams a light of hope as it implies the jumpstart of the cryptocurrency markets which has suffered a drastic slide in recent times.
This new record comes on the heels of a very favorably week in the crypto markets which saw a $1.4 billion in inflow only last week, with Bitcoin taking the lion’s share of $310 million.
Data released by Coinshare, a cryptocurrency analyst and obtained by 9AM News Nigeria revealed that all crypto assets combined got an inflow of $17.8 billion, exceeding the 2021 record of $10.6.
According to Coinshare’s data the biggest chunks of inflow into crypto assets came from Switzerland and United States buyers.
The report read “Regionally, the US led with US$1.3bn for the week, although the positive sentiment was seen across all other countries, most notable being Switzerland (a record this year for inflows), Hong Kong and Canada with US$58m, US$55m and US$24m respectively”
Bitcoin which enjoyed one of its best week of financial inflow pulled unto $1.3 billion in overall inflow and $ 310 million last week alone.
This humongous cash inflow helped drive the value of a Bitcoin to $63,000 as at press time.
Ogasabi speculates that the unusual buying of Bitcoin assets may be due to dip of Bitcoin that resulted because of the selling off of an astonishing 50,000 Bitcoins by the German government.
The consequent drop in the price of Bitcoin lured investors to invest heavier sums to obtain Bitcoin assets.
The next biggest crypto investment inflow was enjoyed by Etherium which raked in $72 million in investments only last week.
This large inflow into Etherium must have been caused by the news of the forthcoming launching of Ethereum Exchange Traded Funds (ETFs) in the United States.
9AM News Nigeria further revelations on cryptocurrencies
Apart from Bitcoin and Etherium, other crypto assets that witnessed soaring inflow are Chainlink with $1.3 million, Avalanche with $2.0 million and Solana with $4.4 million.
