HomeCoinsEthereumThis Ethereum Rival Is the ‘Most Loved Altcoin’ by Institutional Traders This...

This Ethereum Rival Is the ‘Most Loved Altcoin’ by Institutional Traders This Yr, In response to CoinShares

Digital belongings supervisor CoinShares says that one prime Ethereum (ETH) rival is being cherished over all different altcoins this yr.

In its newest Digital Asset Fund Flows Weekly Report, CoinShares finds that whereas the general digital asset markets suffered minor outflows final week, Solana (SOL) noticed minor inflows for the ninth consecutive week.

“While Solana saw inflows for the 9th consecutive week totaling US$0.7m, the YTD (year-to-date) inflows of US$26m suggest it is the most loved altcoin amongst investors at present.”

In the meantime, the general digital belongings markets noticed over $11 million in outflows, based on CoinShares.

“Digital asset investment product flows cooled off, with relatively minor outflows totaling US$11.2. This run of negative sentiment over the last 7 weeks now totals US$342m. Year-to-date digital asset investment products remain in a net inflow position totaling US$165m, with the year so far beset with large gyrations of investor flows, very much driven by the hopes and concerns for regulation on digital assets.”

Supply: CoinShares/X

Bitcoin (BTC), Polygon (MATIC) and Ethereum funding merchandise suffered $3.8 million, $8.6 million, and $3.2 million in outflows final week, respectively.

Nevertheless, regardless of the minor outflows, CoinShares says buying and selling volumes are up.

“Despite little activity on flows, trading volumes were much higher than average, totaling US$2.8bn for the week, 90% above the YTD average.”

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Featured Picture: Shutterstock/Skilled Bat/Tun_Thanakorn

Supply: https://dailyhodl.com/2023/09/04/this-ethereum-rival-is-the-most-loved-altcoin-by-institutional-investors-this-year-according-to-coinshares/

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