4 big trends happening right now in crypto

Hello Seven Lakers,

With crypto investments making headlines these days, I wanted to provide you with an update on the cryptocurrency market

If you want to stay updates on crypto news, follow for FREE our partners at The Phenom Update!

4 BIG TRENDS HAPPENING RIGHT NOW

Here are the 4 most interesting things from crypto:

1/ DIGITAL ASSETS HAVE SURPASSED $1B+ IN INFLOWS THIS YEAR

The results from CoinShare’s latest Digital Asset Fund Flows report are in…

There was $293M in total inflows last week. Bringing the total net inflows to $1B+ on the year.

Here are a few other highlights from the report:

• Inflows are on a 7-week streak. There have been more inflows during the last 7 weeks than all of last year.

• Bitcoin (Exchange Traded Product) ETP trading volumes made up ~19.5% of total Bitcoin trading volumes. CoinShares suggests this is because ETP investors are participating much more in this rally compared to 2020/2021.

• ETH saw $49M in total inflows last week. It was the largest week of inflows since August 2022.

• Solana rallies with another $12.4M in inflows. SOL is the 2nd most popular asset amongst crypto ETPs and has seen $120M+ in inflows this year.

Overall, total assets under management (AUM) are up 9.6% over the last week and up 99% since the beginning of the year. (!!) 

This means: institutional investors are coming for crypto.

2/ NFT BLUE CHIPS ARE UP 71% OVER THE LAST MONTH

• Daily NFT volume just hit a 3-month high.

• CryptoPunks NFTs are being bought for $1M+.

• EtherRock NFTs (aka pictures of pet rocks) are being bought for $100K+.

Plus, the floor prices for the Top 10 NFT projects are up 71% over the last month.

3/ CRYPTO FEES ARE UP BIG

Everything in crypto is up – prices, daily transactions, users, morale, etc.

The bad news? That includes crypto fees.

You see, every time you make a transaction on a blockchain (i.e. Ethereum) you have to pay a fee – this is called “gas”.

With the recent rally, gas prices have spiked. 

Just check out Ethereum’s gas prices from last week. They’re looking worse than California’s…

4/ “PONZI COINS” ARE SEEING TRIPLE DIGIT RETURNS

3 of the best-performing tokens over the last month were ponzi scheme

• FTT: +213%.

• CEL: +105%.

• LUNA: +92%.

If you’re thinking about joining the trend and investing in these Ponzi coins for a quick return – don’t.

These tokens are like the end slices of a loaf of bread: everyone touches them, but no one really wants them.

If you want to stay updates on crypto news, follow for FREE our partners at The Phenom Update!