Mushmirbat
As digital asset outflows continue, XRP stands out with $1.3 million inflows
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Amid a market environment characterized by cautious sentiment and changes in investor behavior, digital asset investment products recorded total outflows of $206 million for the second consecutive week. Nevertheless, XRP emerged as an exception, bucking the broader trend with $1.3 million in inflows.
Decrease in trading volume
According to the latest information from CoinShares, report, trading volume of digital asset exchange-traded products (ETPs) decreased slightly, reaching $18 billion. These volumes accounted for 28% of total Bitcoin trading volume, down from 55% a month ago. Bitcoin, which continues to dominate the market, witnessed an outflow of $192 million.
However, outflows from short Bitcoin products were only $300,000, indicating that investors are not interested in capitalizing on negative sentiment. The negative sentiment was primarily driven by US ETFs, which saw $244 million in outflows. While established ETFs were hit the hardest, newly issued ETFs continued to see inflows, albeit down from the previous week.
meanwhile, Ethereum It recorded an outflow of $34 million, marking the sixth consecutive week of negative outflows. However, multi-asset products have seen improving sentiment, with $9 million in inflows last week. Litecoin and Chainlink also saw positive inflows of $3.2 million and $1.7 million, respectively.
XRP stands out
Amid the broader outflow trend, XRP stood out with an inflow of $1.3 million. This unexpected increase in interest can be attributed to certain factors driving demand for XRP. One potential factor is that rippletechnology solutions, especially cross-border payment platforms.
In addition to the $1.3 million inflow, XRP’s price performance further highlights its resilience and attractiveness to investors. XRP, whose current price is $0.5336, has registered a modest increase of 0.82% in the past 24 hours and a significant increase of 3.01% in the past week.
XRP’s 24-hour trading volume also surged, increasing by 12.61% to $1,129,623,228. This increase in trading volume is indicative of increased activity and interest in XRP, suggesting that the asset continues to attract the attention of both short-term traders and long-term investors.
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Mushmirbat
