Sixth Consecutive Week of Digital Asset Inflows: Report

Digital assets experienced their sixth consecutive week of inflows as 2022 continues to provide a choppy market for crypto.

According to CoinShares, a mere $3 million moved into crypto last week, but the total for the month and a half stands at over half a billion dollars ($529 million).

The report states that during the week, Bitcoin saw outflows totaling $8.5 million while short-bitcoin investment products saw a record outflow totaling $7.5 million, and for the second consecutive week, suggesting investors believe Bitcoin prices have troughed.

Ethereum saw inflows totaling $16 million as the Merge appears to be nearing.

Minor inflows were seen across all regions except Canada, which saw outflows totaling $30 million. Inflows were seen in the US and Germany totaling $17 million and $8 million, respectively.

Overall, trading volumes remain very low at $1.1 billion for the week versus the year-to-date weekly average of $2.4 billion.

This week could shape up as better for crypto as Bitcoin has experienced a small spike and now trading around $24,000.

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