In the last three weeks, the digital asset inflows reportedly reached $470 million.
In an interesting turnaround, a sequential three-week surge in digital asset inflows has effectively offset the negative flows experienced over nine preceding weeks, as reported in the latest CoinShares analysis released on July 10th.
An impressive accumulation of $136 million was recorded in the past week's inflows. Maintaining its primary position, Bitcoin (BTC) funds reaped the lion's share of inflows, contributing 98% of the total.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
Paper Hands vs Diamond Hands: Crypto Slang Explained (ANIMATED)
The remaining 2% of inflows were mostly attributed to Ether (ETH), diverse asset holdings, and a select few altcoins.
This marks the third week of steady, positive momentum following a concerning nine-week period of predominant outflows in digital assets. The cumulative inflows for these three weeks tally up to $470 million, an amount that CoinShares states has effectively redressed the prior deficit.
BTC's market dominance remains undisputed as it expands its total market capitalization from the previous week's 51.46% to 51.60% as of July 12th.
In other encouraging developments, blockchain equity inflows hit a yearlong high of $15 million. This figure more than doubles the previous week's $6.8 million.
On the other hand, signs of a potential balance might emerge as overall liquidity appears to be dipping. The report suggests a "seasonal low" has been reached in trading volumes, mirroring cycles from prior years characterized by low liquidity in July and August.
Despite the ongoing optimism around inflows, some investors seem apprehensive due to the absence of a definite trend.
The initial optimism stimulated by the anticipation that one or more firms would finally receive US SEC's authorization to offer a spot Bitcoin exchange-traded fund may be waning as the process prolongs.
An element of uncertainty persists, with the US Securities and Exchange Commission's ongoing legal dispute against Binance and Coinbase, leaving no clear hint towards a potential court decision.
This trajectory of positive inflows, despite a backdrop of potential apprehensions, underscores the intricate dynamics of the cryptocurrency market.
