On Wednesday, the price of bitcoin jumped to more than $104,000, following Donald Trump’s announcement of a presidential pardon for Silk Road and bitcoin-libertarian folk hero Ross Ulbricht. The digital asset community also eagerly anticipated a flood of crypto executive orders that would overturn years of perceived regulatory slights.

The Crypto Fear & Greed Index, a long-standing gauge of crypto market sentiment, was green on Wednesday, signaling a renewed bullish outlook. “This is considered the initial stage of ‘extreme greed’,” said Alex Kuptsikevich, FxPro chief market analyst. “During a bull market phase, values exceeding 80 increase the risk of a corrective pullback, whereas current values may coexist with further movement towards historical highs,” he said.

The world’s second-largest cryptocurrency, ethereum, rose to around $3,270, while altcoins like Solana rose to more than $255 and XRP increased to $3.23 at the time of writing.

Last week, XRP recorded $31 million in inflows, bringing its total inflows over the last few weeks to $484 million, according to a new CoinShares report. XRP was also singled out for its major growth potential by MN Consultancy founder Michael van de Poppe, alongside altcoins like Matic, Algorand, Chainlink, and Aave.

Bitcoin recorded $2.7 billion in inflows so far this year, according to a new CoinShares report. Meanwhile, CoinShares also said that worldwide investments in cryptocurrency funds surged 46-fold last week, reaching $2.195 billion — the highest level in over a month.

“Digital asset investment products recorded inflows of US$2.19 billion last week amid the Trump inauguration euphoria, the largest week of inflows so far this year," said James Butterfill, Head of Research at CoinShares.