Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News
Ethereum Classic

Cryptocurrency funds received $ 63 million in revenue

, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News


, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News
, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News

Digital currencies continue to expand their influence in the various sectors of finance. This happens despite the negative events and news that seek to push these assets down. In the case of investment funds based on cryptocurrencies, they received about $ 63 million dollars, according to the CoinDesk portal.

These revenues correspond to the last evaluation week which ended last Friday. This is an important entry that breaks with 4 consecutive troubled weeks. It is important to note that this amount of income is diversified among various virtual currencies.

Among these, Bitcoin, ETH, Ada, XRP and Dot stand out. Bitcoin alone, the largest of the currencies in market capitalization, accounted for inflows of $ 39 million USD. The latter represents 62% of the total inflow of these digital asset funds.

What does the income that cryptocurrency investment funds received represent?

If it weren’t for the environment that exerts intense pressure to keep the price of digital currencies low, these would be at much higher levels. For example, when Bitcoin tries to take a bullish streak, it is surprised by some external action that causes selling pressure.

However, interest in cryptocurrencies continues to grow and this is reflected in the magnitude that investment funds received. As already highlighted, most of the $ 63 of revenue in the last week, corresponds to Bitcoin. But other currencies were not far behind.

In that sense, the income received by investment funds that offer services with ETH, the native cryptocurrency of the Ethereum network, stands out. This digital asset represented a significant income of $ 18 million after three consecutive weeks of negative results.

Other alternative cryptocurrencies or altcoins, they represented lower income for the investment funds that represent them. For example, XRP $ 1.2 million, Dot $ 2.1 million, and Ada $ 0.7 million.

Big investors are back

Another aspect highlighted by the aforementioned medium is that large investors would be returning to the ring of investments in cryptocurrencies. An example of this is the increase in the activity of the so-called whales with amounts between 1,000 and 10,000 BTC in their portfolios.

At the same time, the price of Bitcoin remains in an ambiguous state. This weekend and part of Monday it presented important bullish movements and then retreated.

At the time of writing, the price of this cryptocurrency in the buy and sell market is $ 33,841. However, the turmoil whose epicenter is in China, have not caused the collapse of Bitcoin. Its worst moment was the fleeting drop below the 30K support from which it recovered in a short time.

, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News
The price of Bitcoin remains above 30K. As crypto funds see an income return, this past week, they received $ 63 million. Source: CoinMarketCap

Why do many choose to invest in these funds?

Chief among the many reasons a person may have to invest is protection from volatility. Putting money in any asset is a decision that can bring dangers. The volatility of cryptocurrencies is one of the main fears of investors, so a mutual fund could be a rational action.

This is because the amounts are managed by professionals, who will know how to do diversified asset management. As the price of cryptocurrencies falls, the value can be transferred to metals like gold to preserve value. On the other hand, if BTC goes up, the gains could be significant.

Although many people tend to do this themselves, it must be remembered that others are not confident enough in their knowledge of the market. At that time, investment funds become important. With these, without having to be an expert in finance, you can participate in the crypto market.

It should be clear that the funds are not without risk either. Therefore, before taking a step in that direction, it is important to seek expert advice.

This material is purely informative and does not represent, in any way, an invitation to invest in funds.


, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Cryptocurrency funds received $ 63 million in revenue, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More