Bitcoin (BTC), the world's largest cryptocurrency past market capitalization, remains the most preferred digital currency for investors, according to a new written report.

Bitcoin inflows deemed for 97% of total crypto inflows so far in 2021, according to a Jan. 25 report past digital nugget investing company CoinShares.

Bitcoin comprises 83% of digital asset investment products under direction, while BTC investment products stand for but half-dozen.five% of full Bitcoin trading turnover. Amid a major cryptocurrency balderdash run in January, daily BTC trading volumes have massively surged so far this year, increasing from an boilerplate of $ii.2 billion in 2020 to $12.3 billion this year.

Crypto investment product inflows hit a tape of $1.3 billion over the past week following a menses of small outflows, CoinShares noted. "We believe investors have been very price conscious this year due to the speed at which prices in Bitcoin achieved new highs," the business firm added.

Ether (ETH) — the second-largest cryptocurrency by market place cap — saw inflows of $34 million over the past calendar week, according to CoinShares' data. There were "little inflows since early December" as investors take been cautious, the report noted.

Both Bitcoin and Ether hit their new all-time highs in 2021. Bitcoin broke its historical high of $42,000 on Jan. 8, followed by Ether's ATH of $1,430 on January. xix. Both cryptocurrencies were subject to a major cost correction, with Bitcoin plunging beneath $30,000 and Ether dropping to around $ane,000 on January. 21.

According to CoinShares, the contempo price dip was partly prompted by contempo comments from Secretary of the The states Treasury Janet Yellen. On Jan. 19, Yellen expressed concerns over cryptocurrencies, challenge that crypto is often used for illicit financing. Yet, she noted that crypto has some potential to improve the financial system.