From Investing.com: 2024-05-20 14:30:20

Digital asset investment products saw a significant increase in inflows, totaling $932 million, representing a 716% rise from the previous week. This surge followed a lower-than-expected CPI report, with Bitcoin (BTC) as the primary recipient of these inflows, accumulating $13.85 billion so far this year.

Chainlink and Cardano (ADA) also saw notable inflows, with Cardano recording nearly $2 million after no inflows the previous week. On the other hand, Ethereum faced challenges with outflows totaling $23 million, reflecting cautious investor behavior amidst uncertainties.

Bitcoin ETFs received inflows of $942 million, indicating a positive investor outlook. Cardano’s increased investor interest brought total investment in Cardano ETPs to $10 million for the year. Overall, growing confidence among investors in Bitcoin and Cardano is evident from substantial inflows last week.

Read more at Investing.com: Bitcoin and Cardano Skyrocket With 716% Increase in Fund Flows By U.Today