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Bitcoin Tops Crypto Inflows Again, But Ethereum Faces Major Setback—Here’s What Happened
According to the latest report from CoinShares, a digital asset manager and researcher, bitcoin has once again topped crypto inflows despite the prevailing bearish sentiment in the market. Meanwhile, it appears that the Ethereum network has faced a major setback.
The data shows that institutional investors have continued to pour funds into the world’s most valuable cryptocurrency, pouring $27 million into Bitcoin for the week. This marked another consecutive week of dominance by Bitcoin in terms of inflows.
However, Ethereum failed to replicate this success, witnessing outflows of approximately $12 million in the same period. It is crucial to note that these findings do not necessarily indicate a decrease in interest towards Ethereum as an asset class, but rather a significant shift in investor sentiment.
As for altcoins, the data suggests mixed trends with some assets experiencing inflows and others reporting outflows. Solana stood out as a positive exception, attracting $15 million in investments. This highlights a certain level of resilience within specific sectors of the alternative cryptocurrency space.
The report also reveals that Aave, Stellar, Polkadot saw inflows of $2.9 million, $2.7 million and $1.6 million respectively.
Source: bitcoinist.com
