Crypto crash caused record purchases of Bitcoin

$ 50.2 million were last week until 24. September invested in Bitcoin-backed assets. That is the highest value since April, reports CoinShares. Many investors saw China’s ban on cryptocurrencies not as a deterrent but as an opportunity to buy, reports Business Insider. The announcement by China triggered an “aggressive sell-off”.

There were also inflows worth $ 28.9 million in ether-backed assets, the highest since June 7th. Solana-backed assets recorded inflows worth 3.9 million US dollars and gimbals recorded inflows of $ 2.6 million , according to CoinShares.

Of course, purchases were mainly made when the price was low: Bitcoin fell by almost 6 percent on under $ 42,000 and ether fell by almost 8 percent to around 2,800 US dollars before the exchange rate recovered halfway in the following days.

Also token requested

One of the side effects of the Chinese ban was also an increase in the purchase of Tokens that are connected to decentralized exchanges that are not connected to any Business Insider reports that rely on your kind of intermediaries that market observers said would benefit in particular from Chinese users who want to bypass the existing restrictions. So-called “ DEX token “such as uniswap, sushi or pancake even increased by almost 40 percent on Monday.