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Home»ALTCOIN NEWS»Ethereum Surpasses Solana as Highest Altcoin Inflows This Year, Positive Sentiment Continues: CoinShares
ALTCOIN NEWS

Ethereum Surpasses Solana as Highest Altcoin Inflows This Year, Positive Sentiment Continues: CoinShares

By Crypto FlexsJuly 22, 20242 Mins Read
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Ethereum Surpasses Solana as Highest Altcoin Inflows This Year, Positive Sentiment Continues: CoinShares
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Digital asset manager CoinShares says institutional cryptocurrency investors are making significant investments in leading altcoin Ethereum (ETH).

CoinShares said there was $1.35 billion in inflows into cryptocurrency investment products last week, according to its latest Digital Asset Fund Flows Report.

“Digital asset investment products saw additional buying last week with $1.35 billion in inflows, taking inflows to $3.2 billion over the past three weeks. Exchange-traded products (ETPs) volumes also increased significantly, reaching $12.9 billion, up 45% week-over-week, but still accounted for just 22% of overall crypto market volumes.”

Source: CoinShares

By region, $1.3 million and $66 million flowed into the United States and Switzerland, respectively.

Brazil and Hong Kong saw smaller outflows totaling less than $7.5 million.

Bitcoin (BTC) took the lion’s share of inflows, as usual, with $1.27 billion.

However, according to CoinShares, the biggest topic of inflow last week was Ethereum.

“Ethereum’s outlook appears to have turned around, with the cryptocurrency seeing an additional $45 million in inflows last week, pushing it past Solana as the top altcoin by inflows year-to-date (YTD) at $103 million.”

Solana (SOL) saw inflows of $9.6 million. The multi-asset crypto investment vehicle saw inflows of $16.7 million. Litecoin (LTC), Chainlink (LINK), XRP, and Cardano (ADA) also brought in inflows of $2.2 million, $700,000, $500,000, and $400,000, respectively.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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