Digital assets manager CoinShares says that one top Ethereum (ETH) rival is being cherished over all other altcoins this year.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that while the overall digital asset markets suffered minor outflows last week, Solana (SOL) saw 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.”
Meanwhile, the overall digital assets markets saw over $11 million in outflows, according to 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.”
Bitcoin (BTC), Polygon (MATIC) and Ethereum investment products suffered $3.8 million, $8.6 million, and $3.2 million in outflows last week, respectively.
However, despite the minor outflows, CoinShares says trading 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.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Professional Bat/Tun_Thanakorn
The post This Ethereum Rival Is the ‘Most Loved Altcoin’ by Institutional Investors This Year, According to CoinShares appeared first on The Daily Hodl.
