{"id":28492,"date":"2022-05-30T12:14:30","date_gmt":"2022-05-30T16:14:30","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28492"},"modified":"2022-05-30T12:14:39","modified_gmt":"2022-05-30T16:14:39","slug":"algorand-products-see-20-million-weekly-inflows","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/algorand-products-see-20-million-weekly-inflows\/","title":{"rendered":"Algorand Products See $20 Million Weekly Inflows"},"content":{"rendered":"\n

Algorand<\/a> saw record inflows last week totaling $20 million which was likely triggered by new product launches<\/p>\n\n\n\n

\"Algorand
Algorand Products See $20 Million Weekly Inflows<\/figcaption><\/figure>\n\n\n\n

Algorand Saw Record Inflows Last Week<\/h2>\n\n\n\n

Institutional investment products based in Algorand had a record-breaking $20 million in inflows in the previous week, according to digital asset management firm CoinShares. This could be tied to the Algorand blockchain's recent launches, according to Colin Wu.<\/p>\n\n\n\n

\n

Digital asset investment products saw inflows totalling US$87m last week, pushing year-to-date inflows just past the half a billion mark to US$0.52bn. Algorand saw record inflows last week totalling US$20m, likely triggered by new product launches. https:\/\/t.co\/B6ngxGFEuy\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Wu Blockchain (@WuBlockchain) May 30, 2022<\/use><\/svg><\/span><\/a><\/blockquote><\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Last week, $87 million was invested in digital asset investment products, bringing the year-to-date total to $0.52 billion. <\/p>\n\n\n\n

Despite the fact that overall assets under management are at their lowest levels since July 2021 owing to market weakness, Bitcoin<\/a> received $69 million in inflows, bringing the year-to-date total to $369 million.<\/p>\n\n\n\n

Short Bitcoin had $1.8 million in inflows last week, indicating that the market's pessimistic undertones have yet to fade.<\/p>\n\n\n\n

In stark contrast to most other cryptocurrencies, Ethereum<\/a> resumed its downward trajectory last week, with outflows totaling $11.6 million, bringing the year-to-date net outflows to $250 million. <\/p>\n\n\n\n

The majority of other altcoins saw inflows, with Solana and Tron receiving $1.8 million and $0.4 million, respectively.<\/p>\n\n\n\n

Algorand's Recent Launches<\/h2>\n\n\n\n

As reported by Coinscreed, the Nigerian government recently inked<\/a> an exclusive intellectual property rights (IPR) agreement with the Developing Africa Group to build a national wallet that will enable the international commercialization of any IP form created and registered in Nigeria, both locally and globally.<\/p>\n\n\n\n

The Developing Africa Group has chosen Koibanx as the country's tokenization and payment engine, with the Algorand Blockchain<\/a> as the protocol on which it will be developed. <\/p>\n\n\n\n

The wallet, as well as tokens for both the IP and the stable token, will be developed by Koibanx (equivalent to the Naira).<\/p>\n\n\n\n

Algorand has also recently made an undisclosed investment in FlexID in order to further develop its Self-Sovereign Identity (SSI) technology.<\/p>\n","protected":false},"excerpt":{"rendered":"

Algorand saw record inflows last week totaling $20 million which was likely triggered by new product launches Algorand Saw Record Inflows Last Week Institutional investment products based in Algorand had a record-breaking $20 million in inflows in the previous week, according to digital asset management firm CoinShares. This could be tied to the Algorand blockchain’s […]<\/p>\n","protected":false},"author":29,"featured_media":28499,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[5642,9949],"class_list":["post-28492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-algorand-blockchain","tag-koibanx"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Algorand-Products-See-20-Million-Weekly-Inflows.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28492"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/28499"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}