Why Everyone’s Suddenly Loving Ethereum and Bitcoin… and Hating Sweden 🇸🇪

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Well, folks, it turns out that digital assets are finally getting their moment in the sun—after nearly drowning in a sea of red ink and cryptic confusion. For the fifth week in a row, investors have been throwing money at crypto like it’s the hottest new match on Tinder — a staggering $785 million, to be precise. That’s enough to make February’s $7.2 billion look like a garage sale. Apparently, the crypto roller coaster is back on track, and the rides are getting a bit more exhilarating — or at least less nausea-inducing.

And guess who’s stealing the show? Ethereum, the blockchain darling, rocked a cool $205 million influx last week, bringing its yearly love affair total to a comfortable $575 million. Yes, after a series of delays that made waiting for the microwave to finish feel like a vacation, Pectra finally launched on May 7th, sparking renewed investor confidence. It’s like Ethereum finally got its big break, and everybody’s clapping like it’s the Oscars 🎉. Oh, and let’s not forget the new co-executive director Tomasz Stańczak — because nothing screams trust like a name you can’t pronounce at first glance.

Meanwhile, Bitcoin decided to join the party, pulling in a hefty $557 million, though nowhere near last week’s enthusiasm — probably because the Federal Reserve is still waving its hawk badge around and scaring everyone into cautious optimism. Short Bitcoin products? Still popular. They attracted a modest $5.8 million for the fourth week in a row, probably a hedge for those who bet on Bitcoin’s dramatic, roller-coaster descent and ascent, all in one weekend.

Other cryptocurrencies couldn’t resist timestamping their own blips — Sui and XRP raked in $9.3 million and $4.9 million, respectively. Cardano and Chainlink added a few crumbs, $0.5 million and $0.2 million. Not everyone’s riding high though; Solana had an outflow of $0.89 million, which honestly sounds like a typo — or someone finally decided enough is enough. Multi-asset funds? They looked at the chaos and decided to hit pause, pulling out $2.9 million — because diversifying in this climate is apparently just a fancy way of losing your shirt.

On the regional front, it was America’s time to shine — a comforting $681 million poured in. Germany and Hong Kong contributed their bit, with Hong Kong splurging its biggest in months — maybe even since the last time they refreshed their sushi menu. Australia and Switzerland played it modest, quietly adding some bills to their crypto piggy banks.

But not everyone’s on the bandwagon. Sweden, Canada, and Brazil decided to take a rain check, pulling out $16.3 million, $13.5 million, and $3.9 million, respectively. Apparently, some regions prefer to watch the crypto circus from a distance — or maybe they just don’t like the new clown (or coin).

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2025-05-20 07:14