The cryptocurrency market saw a sharp correction this week following an influx of retail speculation. Institutional investors are largely insulated from such volatility, as they have access to hedging and other financial instruments that professional traders cannot obtain. However, Shiba Inu lovers seem undeterred by the dip in prices–the demand for Shibas appears insatiable.
The “the next shiba inu coin reddit” is a website that discusses cryptocurrencies. The article talks about the retail and institutional markets as they relate to cryptocurrency.
While Bitcoin and Ethereum prices successfully recovered from last week’s sell-off, Shiba Inu prices soared after Kraken’s announcement.
According to CoinShares’ latest data, crypto investment products saw $306 million in inflows last week, with Bitcoin seeing the greatest inflows in five weeks.
Price pressures, however, caused total assets under management (AUM) to drop from $75,4 billion to $72,8 billion, according to the digital asset manager.
Bitcoin has had the most inflows in the last five weeks.
Last week’s volumes boosted month-to-date inflows to $787 million, while year-to-date inflows hit a record $9.5 billion, according to the study, which maintains track of the flows into digital asset funds.
Flows by Service Provider (Source: CoinShares)
According to CoinShares, Bitcoin had the greatest inflows in five weeks, reaching $247 million, after the debut of another investment product in Europe.
“This takes the 11-week inflow streak to US$2,7 billion,” the paper said.
With inflows of $23 million, Ethereum, the second-largest cryptocurrency by market size, saw its sixth straight week of inflows last week.
Multi-asset investment products, however, received $9 million in inflows and were the third biggest investment product by AUM at $4,6 billion.
Cardano experienced withdrawals of $1 million, while Polkadot and Solana witnessed inflows of $11,5 million and $14,6 million, respectively.
Asset-Based Flows (Source: CoinShares)
Polkadot and Solana “continue to be the winners” in terms of inflows to AUM, with documented inflows reaching 8,6 percent and 5,9 percent of AUM, respectively.
The mood of the week
Bitcoin and Ethereum prices have been steadily rising after last week’s sell-off, and are now trading at $58,000 and $4,600, respectively, at the time of writing.
While the two most popular cryptocurrencies easily passed price barriers, Shiba Inu soared after its debut on Kraken today.
@Shibtoken $SHIB deposits are now available on Kraken! The market will open on November 30.
yUUKaBXKBq pic.twitter.com/L2IUHugyG0 https://t.co/yUUKaBXKBq
November 29, 2021 — Kraken Exchange (@krakenfx)
Shiba Inu’s price has risen by more than 30% in the last 24 hours after a US crypto exchange announced that the meme currency will be added to its trading platform.
TradingView Chart for SHIBUSD
Following its debut on Coinbase in September, Dogecoin’s major competitor saw a similar increase in popularity. This time, how hard will it pump?
The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.
Gain a competitive advantage in the cryptoasset market.
As a premium Edge member, you’ll get additional crypto insights and context in every story.
Analyses of the whole chain
Snapshots of prices
a little more context
For just $19 a month, you can become a member right now. Examine all of the advantages.
Posted in: Memecoins, Investments
Watch This Video-
The “why is shiba going down reddit” is a question that has been asked by many people. The answer to this question is that the retail industry is piling into Shiba Inu while institutions remain unfazed by market volatility.
- buy shiba inu coin reddit
- is shiba inu coin dead reddit
- should i invest in shiba inu reddit
- if shiba inu hits a dollar
- when to sell shiba inu reddit