Institutional Money Sells These 3 Altcoins: It Buys Them!

CoinShares’ weekly cryptocurrency fund flows report shows that institutional investors are moving away from 3 altcoin projects. The number of altcoins that saw fund inflows were Solana and XRP.

Institutional money moves away from these 3 altcoin projects

According to CoinShares’ fund flow report, cryptocurrency investment works have seen a total outflow of $5 million since last week. Bitcoin saw small inflows of $4.6 million for 6 consecutive weeks. While the price continued to consolidate around $19,000, short Bitcoin investment artifacts also shrank by $7.1 million. Ethereum saw a total of 2.5 million exits for the third week in a row. Since the merge upgrade completed on September 15, their total debuts have reached $11.5 million. According to the report, many altcoins have been losing institutional interest since last week. The list of debuting altcoins is as follows:

  1. Ethereum (ETH)
  2. BNB Coin (BNB)
  3. Cardano (ADA)

In the overall picture, cryptocurrency investment works have seen a total outflow of 5 million since last week. Regionally, Sweden, Canada, and the United States experienced the most activity, with total exits of $4.5, $1.9 and $1.2 million, respectively. Germany, Brazil, and Switzerland have all seen minor entries.

Fundraising altcoins

Top fundraisers: Solana and XRP. Ripple (XRP) saw $0.8 million in inflows during the week. While small, it’s close to the largest since the lawsuit began with the SEC. Litecoin and Tron were stable compared to last week.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisment

Most Popular