{"id":163216,"date":"2021-01-26T13:50:04","date_gmt":"2021-01-26T10:50:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-made-up-97-of-total-crypto-inflows-in-2021\/"},"modified":"2021-01-26T13:50:04","modified_gmt":"2021-01-26T10:50:04","slug":"bitcoin-made-up-97-of-total-crypto-inflows-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-made-up-97-of-total-crypto-inflows-in-2021\/","title":{"rendered":"# Bitcoin made up 97% of total crypto inflows in 2021"},"content":{"rendered":"

“# Bitcoin made up 97% of total crypto inflows in 2021 <\/strong>”
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Bitcoin (BTC), the world\u2019s largest cryptocurrency by market capitalization, remains the most preferred digital currency for investors, according to a new report.<\/p>\n

Bitcoin inflows accounted for 97% of total crypto inflows so far in 2021, according to a Jan. 25 report<\/a> by digital asset investing company CoinShares.<\/p>\n

Bitcoin comprises 83% of digital asset investment products under management, while BTC investment products represent just 6.5% of total Bitcoin trading turnover. Amid a major cryptocurrency bull run in January, daily BTC trading volumes have massively surged so far this year, increasing from an average of $2.2 billion in 2020 to $12.3 billion this year.<\/p>\n

Crypto investment product inflows hit a record of $1.3 billion over the past week following a period of minor outflows, CoinShares noted. \u201cWe believe investors have been very price conscious this year due to the speed at which prices in Bitcoin achieved new highs,\u201d the firm added.<\/p>\n

Ether (ETH) \u2014 the second-largest cryptocurrency by market cap \u2014 saw inflows of $34 million over the past week, according to CoinShares\u2019 data. There were \u201clittle inflows since early December\u201d as investors have been cautious, the report noted.<\/p>\n

Both Bitcoin and Ether hit their new all-time highs in 2021. Bitcoin broke its historical high of $42,000 on Jan. 8, followed by Ether\u2019s ATH of $1,430 on Jan. 19. Both cryptocurrencies were subject to a major price correction, with Bitcoin plunging below $30,000 and Ether dropping to around $1,000 on Jan. 21.<\/p>\n

According to CoinShares, the recent price dip was partly prompted by recent comments from Secretary of the United States Treasury Janet Yellen. On Jan. 19, Yellen expressed concerns over cryptocurrencies, claiming that crypto is often used for illicit financing. However, she noted that crypto has some potential to improve the financial system.<\/p>\n