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HomeLaw & PoliticsNo impact of ongoing European conflict on crypto inflows

No impact of ongoing European conflict on crypto inflows

Crypto and digital asset investment products received $36 million in inflows for the sixth week in a row. Despite the Ukraine crisis and the negative attitude that has accompanied it, according to the latest CoinShares report, inflows have continued. Bitcoin trade volumes on crypto exchanges dealing the RUB/USD saw a surge of 121 percent week over week, the report indicated.

Americas’ inflows resulted in $95 million last week, while outflows into European investment products totaled $59 million. Last week, the major coins witnessed inflows, albeit in small sums. Inflows into Bitcoin-based financial products totaled $17 million during the last week. This takes the overall inflows for the fifth week in a row to $239 million. Despite the fact that Ethereum-based products only received $4.2 million in inflows, this is the second week in a row that inflows have occurred after five weeks of outflows.

According to the analysis, most altcoin-based financial products experienced inflows last week, but they were minor. With $2.6 million and $500,000 in withdrawals, Solana and Litecoin looked to be the most popular targets of pessimistic investor sentiment.

Tezos was the only altcoin-based product to have inflows this week, with $4.4 million, or 14% of assets under control, totaling $4.4 million.

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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