According to CoinShares analysts, the volume of funds in crypto investment products increased by $87 million during the week.

A week ago, holders of cryptocurrency instruments reduced their positions by $141.2 million.

Mixed dynamics have been observed since April. Since the beginning of the year, the inflow of funds into crypto funds has reached $ 0.52 billion. For comparison, in the same period in 2021, the indicator was $ 5.9 billion.

Initial cryptocurrency-based products have attracted $69.4 million and $369 million since January. In terms of value, they hit the lowest valuation since July 2021 ($24.7 billion).

Fund outflow from Ethereum funds continued. In seven days, it was $11.6 million and $250 million since the beginning of the year.

Investors’ interest in multi-asset products continues. Investments in them have increased $4.8 million during the week and $191 million since the start of the year.

Fund raises in Solana-based funds, another popular investment destination, were $1.8 million and $104 million, respectively.

Analysts noted record interest in products based on Algorand – the fund inflow for the week was $ 20 million, which they attributed to the launch of new tools in the ecosystem.

Recall that the price of the first cryptocurrency fell for the first time in history after the results of nine consecutive weeks. Prior to this, the record streak did not exceed seven weeks.

Earlier, JPMorgan analysts described bitcoin’s fair price as $38,000.

Guggenheim Partners investment director Scott Minerd and critic of the first cryptocurrency Peter Schiff allowed digital gold prices to drop to $8,000.