Logo
Cardano Ecosystem

Forkast

10/16/2021

·

642 views


Solana sees investment inflows of $7M, largest of any digital asset: CoinShares

After six consecutive weeks of outflows, institutional sentiment for digital assets is turning, with net inflows of US$21 million last week, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total assets under management (AUM) across all...

Solana sees investment inflows of $7M, largest of any digital asset: CoinShares
bitcoin cryptocurrency

After six consecutive weeks of outflows, institutional sentiment for digital assets is turning, with net inflows of US$21 million last week, according to CoinShares, Europe’s largest digital assets fund manager.

Fast facts

  • Total assets under management (AUM) across all digital asset fund providers rose to US$57.3 billion, the highest since mid-May, driven by the recent surge in the crypto market.
  • Cardano, ranked third largest cryptocurrency by market value after Bitcoin and Ethereum, saw inflows of US$6.4 million. Cardano’s ADA has been on an upward price trend with the Sept. 12 launch date for its much anticipated “Alonzo” hard fork drawing close.
  • Ethereum saw inflows of US$3.2 million. Other altcoins such as Litecoin, Polkadot and XRP saw inflows of US$1.8 million, US$1.1 million and US$1 million respectively.
  • But institutional investors still seemed down on Bitcoin, the largest cryptocurrency by market value. Bitcoin saw US$2.8 million of outflows — its seventh consecutive week of outflows. Bitcoin was the only major digital asset that saw outflows last week, CoinShares reported, although the outflows were minor compared to the US$22 million outflows the week before. Bitcoin yesterday surged past US$50,000 for the first time since May when the crypto market crashed from Elon Musk tweeting that Tesla would no longer accept Bitcoin for payment and China announcing its crackdown on Bitcoin mining and trading.

THE CURRENT FORKAST

Newsletter

Sign up to receive weekly insights on blockchain & crypto in Asia.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Forkast

ORIGINAL SOURCE

https://forkast.news/headlines/solana-se...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Forkast

See more
Binance Japan launches with 34 tokens, BNB debuts in the country
Forkast
Binance Japan launches with 34 tokens, BNB debuts in the country

08/01/2023

·

627 views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)