Fears of a shutdown stimulated the influx of funds into crypto funds

Crypto market news, investments in cryptocurrencies
Crypto market news, investments in cryptocurrencies

Concerns about a possible US government shutdown catalyzed purchases of cryptocurrency investment products between September 23 and 29. The inflow amounted to $21 million, according to CoinShares analysts.

Prior to this, negative dynamics were observed for six weeks in a row.

Data: CoinShares.

Experts indicated that the main activity occurred at the end of the week before the end of the financial year (September 31). At that time, there was still no certainty regarding the distribution of budget funds to continue the work of the departments.

An additional driver was the improvement in the cryptocurrency market.

Bitcoin funds recorded an inflow of $20.4 million after an outflow of $6 million in the previous reporting period.

From structures that allow opening shorts on the first cryptocurrency, investors withdrew $1.5 million (a week earlier $2.8 million).

Altcoin-based products showed mixed dynamics. In Ethereum funds, investors released $1.5 million, the previous week – $2.2 million. Solana-based products raised $5.1 million.

Data: CoinShares.

Let us remind you that the other day TVL Solana reached an annual high ($339 million).

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