Institutions remain bullish on Cardano and Ether while BTC outflows persist
Ethereum and Cardano continue to dominate inflows to institutional crypto investment products while demand for BTC weakens. Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin.In its Digital Asset Fund Flows Weekly report on Aug. 30, institutional asset manager CoinShares identified overall inflows of $24 million to altcoin-based investment products. The capital flows mark the second consecutive week of inflows to altcoin funds, with investments into altcoin products increasing by 14.3% compared to last....
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While institutions are still withdrawing capital from Bitcoin investment products, money is flowing into Ethereum and altcoin products. Institutional crypto products have seen their fifth consecutive week of outflows despite the bullish momentum in the markets. In its August 9 Digital Asset Fund Flows Weekly report, institutional asset manager CoinShares estimated that outflows totaled $26 million for the week. However, the report notes that outflows have shrunk compared to during May and June, when outflows surged to a record $141 million per week.Despite BTC gaining 17.5% over the past....
Cardano has been on a bullish run and it managed to cruise past the crucial resistance mark. Over the last week, ADA surged by almost 20%. The altcoin has been moving up in an ascending trendline over the last 24 hours. Currently, the altcoin has steadied on the $0.47 support line. Now Cardano has finally managed to claim its old resistance level and the bulls are back. For the bullish momentum to get intensified ADA needs to stay above the resistance mark it crossed above. It is however to soon to say if ADA is on a bullish momentum or if this is a relief rally. Bitcoin’s upward....
Solana represented one-third of total inflows to institutional crypto investment products this past week. Institutional investors are loading up on Solana (SOL), with one-third of inflows to crypto investment products being invested in instruments tracking Solana this past week.According to CoinShares’ Aug. 23 Digital Asset Fund Flows Weekly report, $7.1 million flowed into Solana investment products between Aug. 15 and Aug. 20.While the price of SOL gained a megre 1.4% on the spot markets over the same period, SOL has gained 110% from $35.58 since the start of August to trade for $75 as....
Bitcoin funds are still in decline as institutional sentiment remains bearish. Investments in institutional Bitcoin products have continued to decline this past week.In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.The findings revealed that Bitcoin-based funds saw the largest outflows with $24 million, or 85% of....
The CEO of CryptoQuant says a recent 15,200 BTC outflow at Coinbase is a sign that institutions are accumulating for the next Bitcoin bull break. Recent Bitcoin (BTC) outflows from Coinbase are reminiscent of the “proof-of-keys” days and could be a sign of a bullish future, according to CryptoQuant CEO Ki Young Ju.Data from the cryptocurrency analysis firm shows that more than 15,200 BTC, currently worth over $515 million, were withdrawn from Coinbase on Jan. 31.BTC outflows from Coinbase. Source: CryptoQuantAccording to Ki Young Ju, the withdrawal “went to custody wallets that only have....