Record $3.3 Billion Inflows Hit Digital Assets, XRP Reverses

Digital assets received $3.3 billion in inflows last week, while XRP experienced a reversal after 80 weeks of consecutive inflows.

The inflow surge highlights a shift towards digital assets driven by macroeconomic factors, with Bitcoin leading the inflows. XRP’s notable reversal marks a significant market change.

$3.3 Billion Crypto Inflows Amidst Economic Uncertainty

The cryptocurrency market witnessed record $3.3 billion inflows, despite XRP’s substantial reversal. The CoinShares report highlighted investments amid economic uncertainty and credit downgrades influencing trends.

Bitcoin gained the most with $2.9 billion inflows, while Ethereum attracted considerable interest. Eighty-week inflow streak for XRP ended with a $37.2 million outflow. “Despite XRP’s significant outflows of $37.2 million, total weekly inflows across digital assets reached $3.3 billion, illustrating strong market momentum,” according to CoinShares. CryptoPotato

Crypto Assets Under Management Near $187.5 Billion

The inflows caused digital assets under management to briefly reach a record $187.5 billion. Analysts believe economic volatility motivates investors towards such diversification.

Financial experts highlight the substantial inflows despite macroeconomic challenges. The cryptocurrency market remains resilient, with digital assets gaining higher consideration among investors. CryptoCraft

XRP Outflow Breaks 80-Week Inflow Streak

Historically, such significant inflows are rare, similar to trends seen in 2021. Experts note the unique occurrence of XRP’s outflow after consistent inflows.

With rising investments, experts foresee potential market expansion. The shift towards digital assets amidst uncertainty indicates possible future high inflows.