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The cryptocurrency market capitalization fell by approximately 0.2% in 24 hours, to $1.41 trillion. Bitcoin is up 0.7% and BNB is up 5.3%, but most altcoins are down.
According to CoinShares, investment in crypto funds increased by $176 million last week; Capital inflows are on track for the eighth consecutive week, after having accelerated in the last four weeks. Investment in Bitcoin increased by $155 million, Ethereum by $3 million, and Solana by $14 million.
Bitcoin continues to dominate, with inflows representing 3.4% of total assets under management over the past eight weeks. Total inflows into the digital asset since the beginning of the year are $1.32 billion, and inflows are still far behind the 2021 and 2020 figures ($10.7 billion and $6.6 billion respectively), CoinShares noted.
70% of the available supply of Bitcoin did not move from one wallet to another last year. That is an all-time high.
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According to Bloomberg Intelligence, the bitcoin ETF spot market could attract up to $100 billion from large mutual funds such as BlackRock, Fidelity and Invesco. Investment funds are already receiving hundreds of requests from clients looking to invest in digital assets.
Spanish bank Santander has allowed 210,000 wealthy clients in Switzerland to trade and store Bitcoin and Ethereum. The list of available instruments will be expanded in the coming months.
Bitcoin advocate Javier Milei has been elected president of Argentina. In the past, the libertarian deputy has expressed his intention to โburn downโ the central bank and abandon the peso in favor of the dollar to combat inflation. Since then, the price of Bitcoin has set a record in Argentine pesos.
According to Bloomberg, the US Department of Justice is seeking more than $4 billion from the Binance exchange as part of a settlement agreement in an investigation into alleged money laundering, bank fraud and sanctions violations.
