Digital Asset Market Update: Ethereum Dominates Inflows While Other Altcins Lag Behind
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Ethereum Steals the Spotlight With $1.59B Inflows, But Not All Altcoins Are Winning
In a shocking turn of events, Ethereum investment products have seen an astonishing $1.59 billion in inflows last week, marking the second-largest weekly total on record and leading all digital assets in fund attraction. This massive influx of capital has left many investors wondering if this marks the beginning of an “altcoin season.” However, a closer look at the data reveals that not all altcoins are sharing in Ethereum’s success.
The broader digital asset market logged $1.9 billion in total inflows for the week, extending its positive run to 15 consecutive weeks. Month-to-date flows reached $11.2 billion, a staggering increase from the $7.6 billion seen post-US election in December of last year.
Despite Ethereum’s impressive performance, it is essential to note that not all altcoins are benefiting from this surge in interest. In fact, Bitcoin has recorded $175 million in outflows as investors shift their focus away from the dominant cryptocurrency.
The report also highlights Solana and XRP, which have seen strong weekly inflows of $311 million and $189 million, respectively. SUI, on the other hand, posted a modest $8 million influx. Cardano and Chainlink attracted relatively small amounts of $1.3 million and $0.5 million, respectively.
However, it is crucial to acknowledge that not all altcoins have followed suit. Litecoin and Bitcoin Cash have both seen outflows of $1.2 million and $0.66 million, indicating a lack of interest in these assets.
Experts are quick to point out that the inflows may be driven by optimism surrounding potential US ETF approvals rather than a broad-based rally in the altcoin market.
Source: cryptopotato.com
