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Reading: Bitcoin and These 4 Altcoins Reached the Top! 2.2 Billion Dollars Flowed into Crypto Investment Products!
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EdaFace Newsfeed > Latest News > Crypto News > Bitcoin and These 4 Altcoins Reached the Top! 2.2 Billion Dollars Flowed into Crypto Investment Products!
Crypto News

Bitcoin and These 4 Altcoins Reached the Top! 2.2 Billion Dollars Flowed into Crypto Investment Products!

vitalclick
Last updated: October 21, 2024 12:39 pm
5 months ago
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Crypto investment productsrecorded an inflow of 2.2 billion dollars with increasing hopes before the US elections. These inflows attracted attention as the largest weekly increase since July. The expectation of a Republican victory, especially in the USA, is high among investors cryptocurrencyincreased optimism towards the As a result, trade volume increased by 30 percent, while total assets under management approached the level of 100 billion dollars.

While Entries Increased in the USA, There Were Profit Taking in Other RegionsEthereum and Other Altcoins Also Gained Interest

While Entries Increased in the USA, There Were Profit Taking in Other Regions

USAhas been at the center of inflows into crypto investment products, attracting $2.3 billion in investment. However Canada, Swedish And Switzerland Small-scale outflows were seen in countries such as. There was an outflow of 20 million dollars from Canada, 18 million dollars from Sweden and 15 million dollars from Switzerland.

It is thought that outflows in crypto investment products are most likely due to investors outside the USA realizing their profits.

Bitcoin (BTC) $68,156was this week’s biggest gainer with an entry of $2.13 billion. Additionally, Bitcoin investment products including short positions attracted attention with an inflow of 12 million dollars. This was recorded as the largest weekly inflow for such products since March.

Ethereum and Other Altcoins Also Gained Interest

Ethereum (ETH) $2,705 also participated in this week’s rally and received an inflow of $58 million. solana (LEFT), Litecoin $73 (LTC) and XRP Altcoins such as (XRP) attracted investments of $2.4 million, $1.7 million and $700 thousand, respectively. However, there was a different situation in multi-asset products. These products experienced an outflow of $5.3 million, ending a 17-week continuous streak of entries.

This volatility in the crypto investment products markets US presidential electionsIt shows parallelism with the increasing interest and expectations regarding the In particular, the expectation that Republicans will take a stance supporting cryptocurrencies has created a positive atmosphere in the markets.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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