Major Inflow To Bitcoin Brings Investors To Speculate On Bitcoin Spark

In the ever-evolving sphere of digital assets, a new trend has emerged: a significant influx of capital into Bitcoin, stirring speculation of a high potential growth Bitcoin fork, namely "Bitcoin Spark." The current bullish climate lets investors look to other high-potential altcoins for additional investments with high ROIs.

The Inflow Phenomenon: An Overview

A staggering $155 million has poured into Bitcoin in recent weeks, marking an upward trajectory for eight consecutive weeks. This influx has brought Bitcoin's year-to-date (YTD) inflows to an impressive $1.32 billion. However, this figure still falls short compared to the massive inflows of $10.7 billion and $6.6 billion recorded in 2021 and 2020, respectively.

Interestingly, the role of Exchange-Traded Products (ETPs) in the total cryptocurrency volumes has seen a notable increase, averaging 11%. This figure significantly surpasses the historical long-term average of 3.4%.

Bitcoin Dominance vs Altcoins

Bitcoin continues to assert its dominance in the market, attracting $155 million in inflows over the past eight weeks. This accounts for 3.4% of Assets under Management (AuM). Altcoins, on the other hand, have not been left behind. Solana leads the pack with an impressive inflow of $13.6 million, followed by Ethereum with $3.3 million and Avalanche with $1.8 million.

Speculation on Bitcoin Spark

The continued positive sentiment towards Bitcoin has led to speculation of a potential 100x Bitcoin alternative: "Bitcoin Spark." This forked version of the original Bitcoin merges the best of Ethereum and Bitcoin consensus mechanisms and melts it into the unique Proof-of-Process (PoP) consensus mechanism.

To fully comprehend the hype surrounding Bitcoin Spark, it's crucial to delve into Bitcoin's recent price trends. Over the year, Bitcoin has managed to almost double its price to over $35,000. With that price level, it is impossible for many investors to ever own one whole Bitcoin. Bitcoin Spark provides investors with a new chance to join a high-potential altcoin from the very beginning.

This trend is increasingly becoming the talk in many DeFi communities, especially with the ability to mine Bitcoin Spark’s token BTCS with a simple smartphone on the go. Its accessibility is a major reason the ICO is selling out fast. Currently, BTCS is only available for a few more days during the last ICO phase. Rumors are swirling within the BTCS community that one final bonus event will be held during the next few days.

Conclusion: The Bitcoin Spark Phenomenon

In conclusion, the Bitcoin Spark phenomenon is a fascinating development in the world of digital asset investment. As Bitcoin continues to assert its dominance in the market, investors worldwide are watching with bated breath to see how the new Bitcoin Fork will perform after its launch on the 30th November.

For more information:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice. Cryptocurrency is a volatile market; do your independent research and only invest what you can afford to lose. New token launches and small market capitalization coins are inherently more risky than large cap cryptocurrencies. These tokens are subject to larger liquidity and market risks.