James Butterfill emphasized: against the backdrop of Bitcoin’s rise to the $70,000 mark, investor activity was focused on instruments related to the first cryptocurrency.
The head of research at the analytical company CoinShares says that users withdrew about $2 million from platforms that allow them to open shorts on Bitcoin (after $3 million a week earlier). In funds related to ether, the outflow of funds decreased from $34.2 million to $18.9 million. In instruments created on the basis of Solana, Polkadot and Cardano, investors invested $6.1 million, $2.4 million and $1.1 million, respectively .
James Butterfill believes that the influx of funds into cryptocurrency products will continue in the near future and may increase if the BTC price reaches a new historical maximum.
Previously, CoinShares experts predicted that in 2024, affordable and viable projects related to the development of stablecoins based on Bitcoin could appear on the crypto market.
Source: Bits
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