Over the past few years, the cryptocurrency market has garnered the attention of traditional investors, who have wired funds into digital asset investment products. The latest data shows that Bitcoin (BTC) and XRP, two of the most popular cryptocurrencies, are leading the pack when it comes to traditional investors' interest.
According to the latest weekly fund flows report from CoinShares, last week saw inflows of $57 million into digital asset investment products, bringing the total net inflows for the year back to a positive position. Of this amount, Bitcoin accounted for $56 million, representing a staggering 98% of all inflows. The remaining $1 million were split between other digital assets, with XRP being one of the beneficiaries.
Gamza KhanzadaevDespite a relatively modest $200,000 in inflows last week, XRP has seen an increasing amount of investor attention. The cumulative inflows for XRP since the start of the year now stand at a net $3 million, indicating that traditional investors are starting to view the cryptocurrency as a viable investment opportunity.
The rise of digital assets as an investment option is not surprising given the volatile global economic climate, with many investors seeking alternative options to traditional investments such as stocks and bonds. The popularity of Bitcoin and XRP can be attributed to their high market caps, which make them less volatile than other digital assets. This makes them an attractive option for investors who are looking for a stable and secure investment.
Alex Dovbnya
Dan Burgin
Vladislav Sopov