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Home ยป Institutional investors pour funds into XRP, Solana, and Cardano (ADA).

Institutional investors pour funds into XRP, Solana, and Cardano (ADA).

Despite Bitcoin outflows, institutional investors continue to invest in XRP, Solana, and Cardano.

by V. Sinclair
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Despite Bitcoin outflows comprising 85% of total outflows, XRP, Solana, and Cardano continue to attract investors. These cryptocurrencies have witnessed inflows amid significant corrections. The negative sentiment primarily stems from U.S. investors due to a strict regulatory environment.

Last week, digital asset investment products experienced outflows of $54 million, with Bitcoin accounting for a $45 million outflow. Short-bitcoin also saw outflows of $3.8 million but remains a popular investment product with month-to-date inflows of $12 million. Ethereum recorded outflows of $4.8 million, despite strong investment fundamentals and high demand for staking yield. Other altcoins like BNB and Polygon (MATIC) saw minor outflows.

However, Solana, Cardano, and XRP attracted investors with inflows of $0.7 million, $0.43 million, and $0.13 million, respectively. These cryptocurrencies saw price increases of 11%, 5%, and 7% over the week.

The strict regulatory ecosystem in the U.S. has negatively impacted investor sentiment. The SEC and the U.S. government’s anti-crypto stance have harmed crypto investors, creating a contrast to investor protection.

Bitcoin’s price has rebounded, rising over 2% in the last 24 hours and currently trading at $27,281. The trading volume has also increased by 70% in the past 24 hours, indicating trader interest. Ethereum’s price is at $1663, up 2% in the past 24 hours, with a significant rise in trading volume.

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