CoinShares: Cardano (ADA) and Stellar Lumens (XLM) are capturing institutional Investors’ Attention

According to CoinShares, Cardano (ADA), the emerging smart contract platform and Stellar Lumens (XLM) saw the largest inflows over the past week, indicating an increase in the institutional Investors’ interest in the two crypto assets.

In a new report recently released by the digital assets manager, CoinShares, a number of top cryptocurrencies, including the two largest digital currencies, Bitcoin (BTC) and Ethereum (ETH), experienced large outflows, but Cardano (ADA) and Stellar Lumens (XLM) were outstanding with inflows from institutional investors.

According to CoinShares, ADA recorded inflows of $1.7 million, while XLM saw a total of $1 million inflows over the past week.

On the other hand, CoinShares reported that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, saw total outflows of $12.7 million, while Bitcoin (BTC), the world’s largest digital currency, recorded $10 million outflows.

Despite the fact that all digital asset investment product suites experienced total outflows of $21 million, Cardano (ADA) and Stellar Lumens stood out.

According to CoinShares’ data, based on monthly flows, the majority of crypto funds have positive values, except the flagship cryptocurrency, Bitcoin (BTC), which saw $156.8 million outflows.

Cardano (ADA) and Stellar Lumens (XLM) are capturing institutional Investors’ Attention

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Solomon Odunayo

Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.