XRP has recently experienced a remarkable 428% surge in institutional inflows, pulling in $45.8 million last week. This increase comes at a time when the broader cryptocurrency market faced significant outflows totaling $454 million, primarily driven by investor withdrawals in the United States. This strong performance highlights XRP“s resilience amid a challenging market environment.
The data from CoinShares reveals that last week”s outflows represented the worst performance for the digital asset sector since mid-2023. The initial optimism of early January, which saw $1.5 billion in net inflows, was quickly eroded by a sharp sell-off that lasted four days, resulting in a staggering $1.3 billion loss in value. U.S. funds were particularly hit hard, contributing $569 million to the total outflow.
Meanwhile, crypto markets outside the U.S. showed some signs of stability. Germany, Canada, and Switzerland recorded inflows of $58.9 million, $24.5 million, and $21 million, respectively, providing some relief amidst the overall downturn.
MicroStrategy”s Major Bitcoin Acquisition
In a bold move, MicroStrategy has announced the acquisition of 13,627 Bitcoin for approximately $1.25 billion. This purchase marks the company”s largest Bitcoin acquisition in nearly six months, as stated by CEO Michael Saylor. The last major buy occurred on July 29, when they acquired 21,021 BTC for $2.47 billion.
Since its initial investment in Bitcoin, MicroStrategy has spent nearly $52 billion to amass its holdings, which now average around $75,353 per Bitcoin. Currently, Bitcoin is trading at $90,547, according to CoinGecko data. The recent acquisition showcases MicroStrategy“s ongoing commitment to Bitcoin as a primary asset.
Shiba Inu”s Surge in Netflows
In other news, Shiba Inu (SHIB) has also made headlines with a staggering 1,153% increase in netflows. Over the last hour, SHIB saw inflows of $144,380 against outflows of $108,020, resulting in a positive net inflow of $36,370. This surge in interest comes as SHIB”s price sees a slight uptick of 2.31% over the last 24 hours, trading at $0.0000086, although it remains down 8.06% for the week.
The spike in Shiba Inu”s netflows indicates renewed interest in the token, despite a broader market hesitance. Traders appear to be cautiously optimistic, awaiting clearer market signals that could drive further investment.
