• Bitcoin inflows show no signs of slowing, reaching a total inflow haul of $256 million in the past two weeks.
• Blockchain equities inflows reach yearlong high of $15 million, doubling last week’s total.
• Despite continuing positive news, trading volume has hit a “seasonal low” with lower liquidity typically seen during July and August.
Bitcoin Continues to Dominate Fund Inflows
Bitcoin continues its dominance as fund inflows for the third straight week have fully corrected nine previous weeks of outflows for the market. This week’s inflows registered $136 million, 98% of which were into BTC funds. The remaining 2% went into Ethereum and other multi-asset holdings and altcoins. Altogether, this brings the last three consecutive weeks’ inflows to US$470M – fully correcting prior nine weeks’ outflows.
Bitcoin Inflows Reaching Yearlong Highs
The positive trend of Bitcoin continues with yearlong highs being reached in the last two weeks. Last week’s BTC inflows were reported at $123 million, adding another $10 million this week bringing the total to an impressive $256 million over two weeks – extending its total market cap from 51.46% to 51.66%.
Blockchain Equities Flowing Positively
The good news doesn’t stop here as blockchain equities also saw a surge in positive flows totaling $15 million – more than doubling last week’s figure of $6.8 million and putting an end to its own nine-week outflow streak according to CoinShares data.
Trading Volume Hit Seasonal Low
Despite all the positive news surrounding digital asset flows, trading volume appears to be on something of a downward trend having dropped off significantly according to CoinShares data – indicating that this could be due to seasonal effects where volumes are typically low during July and August periods each year.
Overall it looks like digital asset funds are heading in a positive direction as both Bitcoin and blockchain equities continue their respective trends showing no signs of slowing down anytime soon – however some investors may be becoming weary as overall trading volumes appear to be on something of a downward trend due mainly due seasonal fluctuations experienced each summer period