Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, registered strong inflows last week that saw investment in the sector reach $ 489 million, the largest since February, according to weekly data from CoinShares Tuesday.
Bitcoin received the lion’s share of investor inflows of $ 441.7 million last week, with $ 4.2 billion so far this year. The world’s largest digital currency posted record weekly releases the week before.
Ethereum posted inflows of $ 30.2 million last week and an all-time high of $ 13.9 billion in 2021, the data shows.
Total inflows so far this year were $ 5.45 billion.
On Tuesday, Ethereum hit another record high of $ 3,530, pushing its market cap to $ 393 billion. But it was last down 2.4% to $ 3,353.
“The main reason for the surge (in Ethereum) seems to be the growing number of developers creating DeFi applications on the platform, but also the growing institutional interest,” said Petr Kozyakov, co-founder and CEO of the global network. of Mercuryo payment. .
DeFi are crypto platforms that facilitate lending outside of traditional banking institutions.
Other cryptocurrencies such as Polkadot, Binance, and Cardano registered minor entries.
Grayscale remains the largest digital currency manager, with $ 49.3 billion as of April 30, up from $ 41 billion the week before. CoinShares, Europe’s second-largest and largest digital asset manager, oversaw around $ 5.8 billion last week, up from $ 5.2 billion on April 23.
Total assets under management so far this year have reached $ 64.7 billion. In 2020, the AUM was $ 19 billion and $ 2.57 billion in 2019.
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