Bitcoin Tops $68,500, Institutional Inflows Hit Record High

Significant retail demand, accumulation from large investors and strong network activity have pushed the price of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term to a record high. BTC topped the price level of $68,500 on Monday for the first time in its history.

Additionally, Bitcoin’s institutional inflows have smashed all previous records this year as BTC investment products attracted a record $6.4 billion worth of institutional investments during the mentioned period. Inflows into Bitcoin investment products during the last 8 weeks has reached $2.8 billion.

The total market cap of Bitcoin now stands at around $1.3 trillion. Though, the crypto asset started this year with a market cap of nearly $500 billion. The remarkable growth in BTC’s price has made it one of the world’s most valuable financial assets.

“Digital asset investment products saw inflows totaling US$174m last week, marking the 12th consecutive week of inflows. This brings year-to-date inflows to US$8.9bn, significantly greater than the US$6.7bn seen in 2020. Total assets under management (AUM) have also reached a new all-time high of US$80bn. Bitcoin saw inflows totaling US$95m last week representing the largest inflows of all digital assets. Inflows in this 8-week bull-run now total US$2.8bn with year-to-date inflows now at a record US$6.4bn,” CoinShares highlighted in its weekly digital asset fund flows report.

Bitcoin vs Altcoins

The crypto market crossed the total capitalization of $3 trillion yesterday for the first time in its history. Bitcoin’s dominance has remained evident throughout this year but altcoins like Solana and Ethereum not only touched record price levels this week, but their crypto market dominance has increased substantially. As a result, institutional investors have started considering altcoins as good tools for portfolio diversification.

“Altcoins remain popular with markable inflows from Polkadot, Solana and Cardano totaling US$9.6m, US$8.5m and US$5m, respectively. Polkadot inflows last week represent the largest weekly on record. Tron, a digital platform focused primarily on Hosting Hosting Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin Read this Term entertainment applications, has seen inflows totaling US$79m over the last 7 weeks making it the 8th largest by AuM,” CoinShares added.