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The crypto space has been doing quite well as the prices of digital currencies have seen a significant increase.
At the moment, the top two crypto assets, BTC and ETH are trading above major price regions.
- The flagship crypto asset Bitcoin is trading at $47,401 (at the time of writing).
- The popular altcoin Ethereum is trading at $3,395 (at the time of writing).
Here is a graph by CoinMarketCap that shows the price movement of BTC over the last week.
The price surge seen for cryptocurrencies is anticipated to boost the inflows seen for the institutional crypto funds as well, which is the highest in three months.
As per reports, even altcoins such as Solana are getting quite the attention from the interested parties, which is indicating a bullish run for the overall crypto space at the moment.
If you are also interested in buying digital currencies make sure you choose a suitable platform like Binance exchange if it matches your criteria and requirements.
On the other hand, margin traders can trade Bitcoin and Ethereum with up to 100x leverage on Bybit. Use this link to sign up and earn a free bonus on your initial deposit.
Major Inflows Seen for Institutional Crypto Funds
Last week, the digital assets saw outflows of $47 million in terms of investment. However, as per reports, the institutional investments have now seen significantly higher inflows.
According to a report by The Digital Asset Fund Flows, the investment products for cryptocurrencies have seen a total inflow of $193 million last week. This is the highest level, which has not been seen since early December 2021.
Previously, the investment levels were quite close to the current figure, which was around $184 million worth of inflows.
The crypto king Bitcoin seems to have gotten the most attention with more than 50% of capital going towards BTC-based products.
Following Bitcoin is the well-known altcoin Solana (SOL), which has seen $87 million inflows for the week. Even the popular altcoin Ethereum has seen a big number, with total inflows seen for ETH-based funds to be around $10.2 million.
It was also seen that as the prices of Bitcoin and Ethereum broke above major resistance levels, the cash inflows by institutional firms also increased.
Crypto assets have quite the utility and significance in the market now and it is only anticipated to increase with time. If you are also looking to invest in digital currencies then make sure you choose the best and largest crypto exchange that suits your needs the most.
Are you a New Crypto Investor?
People who are new to the crypto space often feel intimidated by numerous factors as there is a lot to keep an eye on before diving into buying crypto.
Since there is a vast range of cryptocurrency exchanges available it also becomes difficult for novice parties to know the kind of exchange they should use.
Therefore, if you are new to the crypto space, there are a few factors you need to consider as mentioned below:
- Choose the lowest fee crypto exchange that also matches your criteria.
- Initially invest as much as you can afford to lose.
- Keep an eye on the price movement of the cryptocurrency you want to buy.
New crypto investors looking to invest in digital assets such as BTC or ETH can click on SwissBorg or Kraken (U.S. citizens).
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