Investor interest in the crypto market is currently being dominated by Bitcoin, with 98% of all investment inflows in digital assets going into the leading cryptocurrency. According to a recent report from Coin Shares, Bitcoin saw an inflow of $56 million, making up the bulk of the $57 million invested in digital assets this week. While this is a significant figure, it’s worth noting that Bitcoin trading volumes were relatively low this week, with only $970 million worth of the cryptocurrency being traded.
Despite the positive investor sentiment towards Bitcoin, the market saw little activity, with trading volumes only accounting for around 25% of this year’s average of $18 billion. Despite the increased interest in Bitcoin, the actual trading activity hasn’t yet reached the level that the market had hoped for.
On the other hand, while Bitcoin dominated investment inflows into the crypto market, seven other altcoins saw the lowest inflows of the week. Uniswap, Polkadot, and Polygon each saw inflows of $0.5 million, $0.4 million, and $0.23 million respectively, indicating that investor interest in altcoins remains relatively low compared to Bitcoin.
Investor sentiment towards Bitcoin is particularly strong in the United States, with $27 million worth of the cryptocurrency being invested this week. Other countries, including Germany, Switzerland, and Canada, also reported substantial investment inflows this week, at $17 million, $13 million, and $2 million, respectively.
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