Institutional investors are pouring money into crypto, with a whopping $321 million flowing into digital asset products last week. This is the second week in a row that we’ve seen a big influx of cash.
The Fed’s Move:
The big reason for this surge is likely the Federal Reserve’s decision to cut interest rates by 50 basis points. This move, which was more dovish than expected, seems to have given investors more confidence in crypto.
Where the Money’s Going:
The US is leading the charge, with $277 million flowing in. Switzerland is next with $63 million, followed by Germany, Sweden, and Canada.
Bitcoin’s Dominance:
Bitcoin, as usual, is the top dog, attracting $284 million in inflows. Ethereum, on the other hand, is experiencing a fifth consecutive week of losses, with $29 million flowing out.
Solana’s Steady Climb:
While Ethereum is struggling, Solana is showing some steady growth, with $3.2 million flowing in last week.
Disclaimer: This information is for general knowledge and shouldn’t be taken as investment advice. Always do your own research before making any investment decisions.
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