Institutional Investors Lost Hope in This Altcoin, Turned to Bitcoin and 5 Other Altcoins!

While Bitcoin and altcoins started the week in which critical economic data will be announced with a decline, CoinShares published its weekly cryptocurrency report and said that there was a modest inflow of $48 million last week. “Cryptocurrency investment products saw modest inflows totaling $48 million last week, but large outflows occurred later in the week due to stronger-than-expected macro data.” Bitcoin and Ethereum Surprised Investors! When looking at crypto funds individually, it was seen that the fund inflows were in Bitcoin. While BTC experienced an inflow of $214 million, Ethereum (ETH) experienced an outflow of $255.6 million. There was also an inflow of $1.8 million in the Bitcoin Short fund, which was indexed to the fall of BTC. When we look at other altcoins, XRP experienced an inflow of $41.2 million, Solana (SOL) $15 million, Aave (AAVE) $2.9 million, Stellar (AXL) $2.7 million, and Polkadot (DOT) $1.6 million. “Bitcoin saw a total inflow of $214 million last week. While it saw the largest outflow relative to other digital assets later in the week, it remains the best performing asset with $799 million inflows since the beginning of the year. Ethereum suffered the most last week, seeing $256 million in outflows. In contrast, Solana did not experience the same pressure, attracting $15 million in inflows. XRP saw significant inflows of $41 million last week and continues to be driven primarily by political and legal factors. Surprisingly, altcoins saw inflows despite poor price performance, with the most notable being Aave, Stellar, and Polkadot with inflows of $2.9 million, $2.7 million, and $1.6 million respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 79 million dollars. Germany came in second after the United States with $52.4 million. Against these inflows, Switzerland had an outflow of $85.3 million, Hong Kong $36.6 million, and Sweden $33.2 million. *This is not investment advice. Continue Reading: Institutional Investors Lost Hope in This Altcoin, Turned to Bitcoin and 5 Other Altcoins!