Crypto investment products are once again proving their market allure, with inflows hitting their highest level since July 2022. European asset management firm, CoinShares, noted an influx of $199 million just last week, signaling revived interest from investors in the crypto space.

The surge is seen as a correction, compensating for almost half of the outflows observed in the preceding 9 weeks. CoinShares attributed the surge to recent filings for physically backed ETFs from high-profile issuers. Particularly, the crypto market is evidently witnessing a rebirth of enthusiasm as global asset management giants, such as BlackRock, file for spot Bitcoin ETFs.

Bitcoin Takes The Lion’s Share

In this wave of increased inflows, Bitcoin emerged as the undisputed front-runner. Bitcoin-centric investment products saw inflows of $188 million last week, according to CoinShares.

On the other hand, short-bitcoin continued its trend of nine consecutive weeks of outflows, reaching $4.9 million. These contrasting trends are a testament to Bitcoin’s persistent allure amid market fluctuations.

Ethereum also registered inflows, albeit at a comparatively lesser scale of $7.8 million. CoinShares’ data implies a currently subdued investor appetite for Ethereum as compared to Bitcoin.

Notably, despite the Bitcoin and Ethereum domination, there’s a visible, albeit “very minor”, flow towards alternative cryptocurrencies, such as XRP and Solana. This points to a diverse market interest, even if it doesn’t match the scale of the major cryptos.

The improved market sentiment is also persuading investors towards multi-asset investment ETPs. These ETPs saw an inflow of $8 million last week, which further emphasizes the ongoing diversification of investor interests in the crypto asset class.

Record High For Crypto Assets Under Management

With the increased inflows, the total assets under management (AUM) across fund managers have now also reached $37 billion. This is the highest level noted since before the collapse of Three Arrows Capital. It underscores not just the resilience of the crypto market, but also the continued faith that investors place in it.

It is worth noting that alongside the surge in crypto investment inflows, the crypto market particularly large crypto assets such as Bitcoin and Ethereum has seen a rebound from its losses amid the United States Securities and Exchange Commission (SEC) lawsuit against Binance and Coinbase.

In the past day, Bitcoin experienced a slight dip of 0.6%, but its trading price continues to hover above the recently regained $30,000 benchmark. The past week has seen an addition of over $70 billion to Bitcoin’s market cap, boosting it from a low of $514 billion the previous Monday to exceed $580 billion today.

Meanwhile, Ethereum has been on the fence in the last 24 hours with no significant movement. The second-largest asset by market cap currently has a daily trading volume above $8 billion and a market cap of $226 billion.

Featured image from Unsplash, Chart from TradingView

Like a strong cup of highly-caffeinated coffee or the sound of a rooster crowing at the crack of dawn, some things have the potential to be a real eye-opener.

When it comes to altcoins, crypto investors could get a wake up alarm they won’t be able to ignore. Keep reading to learn all about the morning star pattern that recently appeared on the weekly chart of several blue chip cryptocurrencies.

Why Crypto Could Be In For A Good “Morning”

Earlier in June, the United States SEC launched an onslaught of enforcement action against Binance and Coinbase. Many top altcoins were named as securities in the case. This list explicitly mentioned MATIC, SOL, and a handful of others.

The result was a deep selloff, severely worsened as US-based institutions began unloading altcoin holdings en masse without care of market impact.

However, following the news that BlackRock and several other institutions were filing for Bitcoin ETFs, the market staged a strong recovery.

The rebound was especially powerful in altcoins, which have been extremely oversold in the midst of the ongoing regulatory uncertainty. The sharp turnaround was also enough to form a morning star pattern in many top cryptocurrencies

.

Top altcoins have formed a morning star pattern | ETHUSD on TradingView.com

The Morning Star Pattern: A Wake Up Call For Altcoins

A morning star pattern has formed on blue chip altcoins like Ethereum, Litecoin, Chainlink, and Fetch.ai. This type of Japanese candlestick pattern is a potential bullish reversal pattern with powerful implications.

The pattern solidified with Sunday night’s weekly close, but to fully confirm must be followed by further upside. This upside is expected to materialized within 3-5 candlesticks, or in this case, weeks.

With many of these more fundamentally-sound and regulator-friendly coins recovering most of what they lost in June, follow through could spark a more significant bullish trend across the brutalized altcoin space.

This chart originally appeared in Issue #9 of CoinChartist (VIP). Get 10% off a year subscription with this link: https://coinchartist.substack.com/NEWSBTC

Kaspa (KAS) has been making waves in the altcoin market lately, with its impressive surge of over 60% in the past 14 days, according to CoinGecko data.

The cryptocurrency is based on the GHOSTDAG protocol, which is a generalization of the Bitcoin Consensus. This protocol offers several advantages over traditional blockchain consensus mechanisms, including higher throughput and faster confirmation times.

Kaspa Emerges As Top Performer

Recently, the Kaspa team announced a significant new feature that is set to go live on the KAS testnet. The 10BPS feature promises to deliver “unmatched” transaction speeds of up to 10,000 transactions per second (TPS).

This is a massive improvement over the current transaction speeds of other major cryptocurrencies like Bitcoin and Ethereum, which typically offer only a fraction of this throughput.

According to the announcement, the 10BPS feature is currently being stress-tested on the KAS testnet, where it is setting new records for crypto BPS.

🚀Groundbreaking 10BPS will be live and public on the $KAS testnet at 7AM UTC.

Stress testing block and transaction rates & setting new records for #crypto #BPS.

More on how to participate soon.

Witness this milestone live: https://t.co/ZjXVeSwUKY#POW #RustyKas #rustlang pic.twitter.com/hjxXXhc5fo

— Kaspa (@KaspaCurrency) June 26, 2023

This considerable jump in transaction speed could be a game-changer for the Kaspa protocol, as it looks to gain more market share from established Layer 1 protocols such as Ethereum, Cardano, and Solana.

In addition to the 10BPS feature, the Kaspa blockchain offers several other impressive features that make it a compelling choice for developers and users alike.

One of the key features of the Kaspa blockchain is its scalability. The protocol is designed to support a high throughput of transactions, which makes it well-suited for use cases that require fast and efficient processing.

This scalability is achieved through the use of the GHOSTDAG consensus mechanism, which allows for a high degree of parallelism and concurrency in the processing of transactions.

Another key feature of the Kaspa blockchain is its security. The protocol is designed to be highly resistant to attacks, with a robust set of cryptographic algorithms and other security measures built in. This ensures that the network remains secure and reliable, even in the face of potential threats.

Will KAS Bullish Momentum Continue?

The cryptocurrency market has been on an upward trend lately, with many cryptocurrencies posting impressive gains over the past week.

Among these is KAS, which has seen a price increase of 28.90% in the last 7 days, outperforming both the global cryptocurrency market (up 9.80%) and similar Layer 1 (L1) cryptocurrencies (up 12.90%).

As of today, KAS is trading at $0.02558, with a 24-hour trade volume of $9 million. While the price has declined slightly by 0.83% in the last 24 hours, the overall trend is positive, with the cryptocurrency market showing signs of recovery after a period of consolidation.

In the short term, KAS is facing resistance at $0.02609, which it has struggled to break through since Saturday. However, if the token manages to overcome this resistance level and attract more players to its ecosystem, its bullish momentum may continue and new all-time highs could be within reach.

Conversely, in the event of a further price drop, the $0.02449 level may serve as a support floor for KAS. This means that if the price falls to this level, it may find some buying support from investors looking to enter the market at a lower price.

According to Coingecko, KAS has a total supply of 19 billion tokens, with a market capitalization of $495,310,928.

Featured image from Unsplash, chart from TradingView.com