The average daily trading volumes of crypto assets under management reached $481 million in November, according to a market report. This growth in assets under management is driven by the recent bullish activity in the digital asset market, with the prices of most cryptocurrencies reaching new highs. In addition to asset prices, decentralized finance activities are also experiencing high volumes and staking as investors seek to maximize their returns before the end of the year. Institutional clients' interest in DeFi products has remained strong, with a 14% increase in assets under management to $43.3 billion at the end of November. Digital asset funds have seen a record $1.76 billion in inflows over the past 10 weeks. Despite this growth, the current bullish drive is still below the all-time high in 2021 when assets under management surpassed $74 billion. The report also highlights a significant increase in the daily average trading volume, which rose by 35.3% from the previous month. This increase in assets under management is attributed to several factors, including growing investor confidence, anticipation for a spot Bitcoin ETF, and pressure on the Securities and Exchange Commission for its approval. Bitcoin has played a crucial role in driving the rise in assets under management, with the market leader remaining the top choice for investment product inflows. Ethereum and Solana also saw growth in their respective products, with Ethereum products increasing by 12% and Solana-based products spiking by 99%.
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