US, Canada Lead Crypto Inflows with $71Million: Market Still Healthy?

CoinMarketCap08-22

Even though there have been some worries in the world of crypto, new information shows that the market is still strong, especially in the United States and Canada where there is a lot of investment. ...

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The network lost $39 million—the most ever recorded. This big drop is linked to a decline in trading of memecoins, which had been a big part ofSolana’s success.Even though these losses might seem concerning, it’s important to remember that Solana isn’t the only one dealing with this. The cryptocurrency market is very unpredictable, and changes in trading are normal. 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This amount is not very big, but it shows that people are not leaving the market. Instead, they are choosing where to invest carefully, and Bitcoin is getting the most interest.\nBitcoin saw $42 million invested in it, showing that it is still the main choice for both big organizations and regular people. Even with uncertain times in the wider market, Bitcoin is still very popular because many see it as a good way to keep their money safe and as protection against inflation.\n\n\n\n Last week, digital asset investment products experienced minor inflows totalling US$30m, #Ethereum saw only US$4.2m inflows, #Solana saw outflows of US$39m and #Bitcoin saw the most significant inflows, totalling US$42m. Read our full report: https://t.co/emjHuJDRHc pic.twitter.com/6k2HoEojtR— CoinShares (@CoinSharesCo) August 19, 2024\n\n\n\nEthereum experienced slower growth, with only $4.2 million coming in. This decrease is mainly because people are taking money out of Grayscale’s Ethereum fund, which has been criticized for its high fees. But this doesn’t give the whole picture.\nSolana’s Record Outflows: A Blip or a Trend?\nSolana, known for its quick and inexpensive transactions, had a rough week. The network lost $39 million—the most ever recorded. This big drop is linked to a decline in trading of memecoins, which had been a big part of Solana’s success.\nEven though these losses might seem concerning, it’s important to remember that Solana isn’t the only one dealing with this. The cryptocurrency market is very unpredictable, and changes in trading are normal. What’s important is how Solana recovers and if it can keep its place despite changing investor sentiment.\nNorth America Dominates Crypto, Brazil Follows\nRegarding which regions are investing, the United States is taking the lead, with $62 million coming in. This strengthens the US’s role as an important participant in the worldwide cryptocurrency market. Canada also performed well, adding $9.2 million, and Brazil contributed $7.2 million.\nThese numbers show that the cryptocurrency market is not only holding up but is also doing well in specific areas. The ongoing interest from North America and some parts of South America indicates that, despite the challenges, digital assets are still considered a worthwhile investment.\nGrayscale’s Outflows: A Shift, Not a Flight\nGrayscale’s Ethereum fund could be seeing some investors leave—around $118 million left last week—but this doesn’t mean people are losing interest in ETH. Instead, they are switching to other Ethereum ETFs, which attracted $104 million in new investments. This change indicates that investors are getting more selective, seeking better profits and lower costs.\nTo sum up, although the cryptocurrency market faces some difficulties, recent data shows it’s not struggling. With the US and Canada bringing in substantial investments and Bitcoin still being popular, the market seems to be going through a phase of change rather than falling. Investors should watch how these patterns develop, but for now, the thermometer says crypto is in good health.\nThe post US, Canada Lead Crypto Inflows with $71Million: Market Still Healthy? appeared first on The Coin Republic.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461876148"}