As an experienced crypto investor with a knack for spotting market trends, I can confidently say that the recent surge in cryptocurrency investment products and inflows following the US presidential elections is not just a coincidence. The $1.98 billion total inflows into crypto products, pushing the total assets under management to a record high of $116 billion, is a clear indication of the growing interest and confidence in this space.
Inflows into cryptocurrency investment products reached a total of $1.98 billion following the victory of Republican nominee Donald Trump in the U.S. presidential elections. This surge occurred as the prices of cryptocurrencies began increasing, with Bitcoin hitting an all-time high of over $84,000.
Based on the latest report from CoinShares, the surge in investments and the upward trend in the cryptocurrency market have driven the total value managed by crypto investment products to an all-time high of $116 billion.
Last week, there was a total investment flow of approximately $1.79 billion into Bitcoin-centric investment vehicles, whereas Ethereum-related investment products received around $157 million in inflows.
Additionally, investments poured into multi-digital asset products totaled approximately $23.4 million, while Solana-centric products attracted about $3.9 million. Investments in XRP, Litecoin, and Cardano amounted to around half a million dollars, two hundred thousand dollars, and one hundred thousand dollars respectively.
According to a recent report, investments linked to various digital currencies experienced withdrawals totaling $300,000, whereas those that bet against the leading cryptocurrency recorded outflows amounting to approximately $2.7 million.
According to two prominent cryptocurrency platforms, Binance and Coinbase, an impressive $9.3 billion in stablecoins flowed into the Ethereum network following the U.S. elections. This pattern of significant stablecoin inflows, followed by rising trends, has often been observed in the past to align with strong market upturns or bullish rallies.
As a crypto investor, I’ve noticed an uptick in stablecoin inflows recently, which is quite intriguing. Simultaneously, spot Bitcoin ETFs have been breaking records with daily inflows of approximately $1.38 billion, as the price of Bitcoin continues to set new highs. It seems like we’re witnessing significant investment activity in the crypto space.
It was generally thought that a win by Donald Trump would likely increase Bitcoin’s value because he has openly shown his backing for the cryptocurrency industry. This support could lead to a clearer regulatory environment through the elimination of uncertainty and the placement of more pro-cryptocurrency individuals in important positions, such as appointing them to key roles.
After U.S. presidential elections, Bitcoin’s value tends to surge, as demonstrated by its performance following the 2012, 2016, and 2020 elections where it recorded returns of 87%, 44%, and 145% respectively over a 90-day period.
Read More
- UXLINK PREDICTION. UXLINK cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- APE PREDICTION. APE cryptocurrency
- Demi Lovato Shares Forever Dreams And Parenting Aspirations With Fiancé Jordan Lutes: ‘I See Growing Old With Him’
- EUR ZAR PREDICTION
- ETH PREDICTION. ETH cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- STRAX PREDICTION. STRAX cryptocurrency
- PROM PREDICTION. PROM cryptocurrency
2024-11-12 02:18