Bullish Sentiment Spills Over To Institutional Investors As Ethereum Inflows Balloons
July 26 2022 - 7:00PM
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Institutional investors had been showing bearish sentiment towards
Ethereum for the longest time. The second-largest cryptocurrency by
market cap, which had initially caught their attention, was not
doing as well as expected, and the outflows that followed were
massive. However, it looks like sentiment among these large
investors is beginning to turn positive as Ethereum has begun to
record inflows. Ethereum Inflows Balloons Over the last several
weeks, Ethereum inflows have been ramping up. Although they were
nowhere near the volumes that had been recorded during the bull
market, it had put a stop to more than 2 months of consecutive
outflows for the digital asset. Last week would prove to be no
different, given that Ethereum’s inflows had come out to $8
million, a low volume, but it was inflows nonetheless. But the most
important inflows were recorded in the week prior when the digital
asset had initially been recorded to have seen inflows of $2.5
million. Related Reading | More Than 57,000 Traders Liquidated
As Bitcoin Declines Below $22,000 Corrected numbers which had
emerged this week had shown that not only was this number too low,
it was off by more than $100 million. When the corrected data was
published this week, it showed that inflows into ETH had reached
$120 million in that single-week period, meaning that it was the
largest single-week inflow in one year. It is a testament to the
changing sentiment among institutional investors when it comes to
the altcoin. With the anticipated Merge approaching quickly, the
bullish sentiment has washed over both small and large investors
alike, prompting more investment into the digital asset. A Week Of
Inflows Ethereum was fortunately not the only cryptocurrency to
mark another week of inflows. The bullish sentiment had extended to
almost every sphere of the crypto market, and the investors had
reacted accordingly. So from bitcoin to digital asset investment
products, the inflows continued. Related Reading | Ethereum
Weekly Exchange Net Flow Points To Growing Accumulation Trend
Bitcoin had seen either week of inflows, with $16 million recorded
for last week. Just like Ethereum, the numbers for bitcoin for the
prior week had been incorrect, and corrected data showed a much
higher inflow rate for the prior week with $206 million in total.
The inflow trend was not limited to long bitcoin alone, though as
short bitcoin continued its streak with $0.6 million in inflows.
Digital asset investment products would prove to be the big winners
for the week with inflows of $27 million. The total asset under
management has not been pushed back up to $30 billion with last
week’s inflows. Europe also accounted for the majority of inflows
as Switzerland alone recorded $16 million for last week. The USA
and Germany would see lesser inflows of $9 million and $5 million.
What this data shows is how investors are looking toward the market
with the recent recovery. However, given the recent decline in
prices, it remains unsure whether the inflows will continue for the
new week. Featured image from News Text Area, chart from
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