A Bullish Beginning? $151 Million Poured Into Crypto Funds In 2024’s First Week
Summary
In the first week of 2024, crypto asset investments saw a surge of $151 million in inflows, with Bitcoin leading at $113 million. Despite the Grayscale vs. SEC lawsuit, American exchanges contributed 55% of the inflows. Ethereum received $29 million in inflows, while Solana faced outflows of $5.3 million. Bitcoin experienced a net outflow of $32.8 million but rebounded with a $113 million inflow, showing a 5.2% increase in price over the past week. Ethereum declined by 2% but is showing signs of recovery. Other altcoins like Solana, Cardano, Avalanche, and Litecoin experienced significant losses.
