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It seems that the brilliance of cryptocurrencies is increasing day by day, as demand increases and investors invest billions of dollars to acquire them.
Coinbase Global, the largest cryptocurrency exchange in the United States, has announced that its valuation jumped to $ 68 billion in the last round of private funding ahead of its scheduled direct listing this year.
Documents provided by Coinbase to regulators showed that its shares were trading in the private market at a rate of $ 343 in the first quarter of 2021 until the middle of this month.
Data shows investors have pumped since the start of the year to buy cryptocurrencies over 60% of the total they have pumped in the past year as a whole, according to Al Arabiya accounts .net data based on Coin Shares.
Data from the company, which specializes in digital asset management, also showed that capital inflows into cryptocurrency funds and products have already reached a record high of $ 4.2 billion for the first quarter of this year, reflecting the growing interest of investment institutions.
The data showed that the previous record level of flows to cryptocurrencies stood at $ 3.9 billion in the fourth quarter of last year, bringing the total flows for all of 2020 to 6. $ 7 billion.
Bitcoin, the world’s largest cryptocurrency by market value, received the most entries so far this year, amounting to $ 3.3 billion, while Ethereum came in second with inflows of $ 731 million.
Bitcoin hit a record high of $ 61,781 on Saturday, but has since fallen as investors consolidated their gains and amid India’s plans to ban cryptocurrencies. Digital currency today registered $ 55.675 thousand.
Data from CoinShares showed crypto assets under management also peaked at $ 55.8 billion, up from $ 47.6 billion last year.
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