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Reading: Striking Divergence Between Ethereum and Solana! Bitcoin is at the Top Again!
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EdaFace Newsfeed > Latest News > Crypto News > Striking Divergence Between Ethereum and Solana! Bitcoin is at the Top Again!
Crypto News

Striking Divergence Between Ethereum and Solana! Bitcoin is at the Top Again!

vitalclick
Last updated: November 4, 2024 1:25 pm
5 months ago
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Contents
Transaction Volume Increased by 67 PercentBitcoin Remains Resilient Against Election UncertaintyDifferent Investment Trends Between Ethereum and Solana

last week digital asset investment productsThere was a money flow of 2.2 billion dollars. Last week’s inflows brought this year’s total inflows to a record $29.2 billion, while assets under management (AuM) rose above $100 billion for only the second time.

Transaction Volume Increased by 67 Percent

The transaction volume in the market, which regained the level of 102 billion dollars seen in June 2024, increased by 67 percent compared to the previous week and reached 19.2 billion dollars. This figure is the total Bitcoin (BTC) on reliable exchanges. $68,545 transaction volumeIt represents 35 percent of the

Especially USAWhile there was an inflow of 2.2 billion dollars in Germany A light entry was reached at $5.1 million. It is thought that the expectation that the Republican candidate will win the 2024 US Presidential elections and the election excitement support these entries.

Bitcoin Remains Resilient Against Election Uncertainty

Bitcoinwas almost the only winner in digital asset investment products last week, attracting $2.2 billion in inflows. With the price increase, interest in short products increased. An inflow of $8.9 million was observed in Short Bitcoin investment products.

As the 2024 US presidential elections approached, there were small-scale outflows on the last day of the week, along with the change in the polls, at a time when sentiment increased. This reveals that Bitcoin is very sensitive to the US elections.

Different Investment Trends Between Ethereum and Solana

Ethereum (ETH) $2,451 It fell behind Bitcoin with a limited inflow of only $9.5 million. The high interest in Bitcoin was not reflected to the same extent in Ethereum. Against this solana (SOL) showed a remarkable performance with a weekly inflow of $5.7 million. There was also movement in small-scale altcoins. Accordingly Polkadot (DOT) 670 thousand dollars and Arbitrum (ARB) saw an inflow of $200 thousand. This indicates that Bitcoin and Solana have greater trust and demand among investors.

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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