According to data from a leading digital asset management firm, the global payment platform Cardano (NAME) and is the second largest cryptocurrency Ethereum‘flour (ETH) there is an increase in corporate investments.
Institutional Investors Are Flocking to These Two Altcoins
CoinSharesin a new report from the, the ISLAND was almost corporate last week Ethereum (ETH) tied their entry and increased their total amount from the beginning of the year to today to $108,000,000.
On the other hand, Ethereum inflows were $17.3 million last week, Cardano he left behind $16.4 million. In the previous week, Cardano entries reached $ 5 million, while Ethereum entries reached a value of $ 31.4 million.
Also other popular cryptocurrencieswhat we are looking at is according to the newly recorded data Solana (LEFT), Polkadot (DOT) and Ripple XRP its inflows are worth $ 9.8 million, $ 5.2 million and $3.1 million, respectively.
CoinShares, 13. he notes that with the arrival of consecutive market inflows dec the week, recent price rallies may have attracted more corporate capital to the area.
The statement made by CoinShares reads as follows;
“Digital asset investment products were decommissioned last week for the 13th consecutive time. the week saw a total of US$151 million in inflows, bringing annual inflows to a record high of US$9 billion. Increases in prices on weekdays saw total assets under management (AUM) hit record highs of about US$87 billion, but closed the week at US$83 billion.”
Description of CoinShares for Bitcoin
According to the company, Bitcoin (BTC) below the all-time high in the current value and the weekly flow of investments, the market is sliding in dominance.
“Bitcoin saw the majority of total inflows of $98 million despite its declining dominance (relative performance) against altcoins during the week, pushing [its assets under management] to a record high of $56 billion.”
Which met inflows in excess of $151 million last week the leading cryptocurrency Bitcoin, despite the investment product market, CoinShares notes that these figures are “simple volumes” compared to earlier this year.
“Although flows have been positive recently, we have witnessed low volumes, averaging $750 million per day in 2H, compared to $960 million in the first half of 2021.”
Last week CoinShares launched a decentralized blockchain Tronhe explained that ‘(TRX) came out of nowhere to capture corporate interest. According to the firm, this week TRX he may experience clear outs.