Crypto: $24.2 billion hits the market!

The bull run across all crypto markets persists, attracting ever more investors. Recent data reveals a massive inflow of $24.2 billion into the digital asset market.

Billions of dollars injected into the crypto market

The total capitalization of crypto markets reached an all-time high yesterday, amounting to $1,656 billion. Despite a slight correction at the start of the day, the market has maintained growth of 58% since mid-October.

This ascent is accompanied by a significant increase in capital inflows. According to recent data from Glassnode, reported by Ali Charts on X, over $24 billion flowed into the crypto market over the past 30 days, marking the largest inflow of capital since December 2021.

Behind the scenes, this trend could signal increased investor interest in cryptocurrencies, ahead of the SEC’s impending decision on Bitcoin ETFs. These developments could contribute to a overall increase in investments in cryptoassetsalso anticipating the imminent entry of financial heavyweights such as BlackRock into the market.

Bitcoin in the lead

At the heart of this increase in capital inflows, the flagship crypto remains a central player.

A report of James Butterfill on X dated December 23 indicates that Bitcoin-related products recorded net inflows of $87.6 million last week, representing 85% of the total inflow of $103 million into the crypto space. Despite this situation, we notice a slight drop in the price of Bitcoin today. Currently, the flagship crypto is trading at $42,868.

This decline is also felt among altcoins, leading to a decrease in market capitalization to $773.98 billion.

However, the increase in capital inflows into the crypto industry suggests the potential continuation of the current bull-run. But above all, the wait for the introduction of ETFs linked to cryptos portends an additional injection of capital into the market.