Bitcoin Loses Steam As Institutional Investors Shift Focus To Ethereum
Ethereum is gaining favor over bitcoin in the eyes of institutional investors. The price of the latter has been seen as being too high, prompting investors to look for other crypto investment options to gain exposure from. The expanding real-world use cases of Ethereum have also helped to further its case as the preferred crypto […]
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The recent market losses have seen institutional investors shift their focus once more to bitcoin. Inflow and outflow trends paint a very vivid picture of going back towards bitcoin to minimize the losses being realized from altcoins. This has seen most of last week’s inflows going into the pioneer cryptocurrency, as altcoins mark another week of little to no inflow. $126 Million To Bitcoin The last week has seen renewed faith in the performance of bitcoin. This is evidenced by the fact that institutional inflows into the digital asset had topped at $126 million. Although the last couple....
Mike Novogratz declared institutional investors are waiting for the next narrative shift in a recent interview at the Bitcoin 2021 conference in Miami. The CEO of Galaxy Digital thinks the market is now in a consolidation phase after the price crash last month. Novogratz also commented on what the rise of defi could mean for banking operators in the near future. Mike Novogratz Thinks Bitcoin Investors Are Waiting for a New Narrative Galaxy Digital’s CEO Mike Novogratz thinks Bitcoin is still in a phase of consolidation after the dump in prices experienced last month. According to the....
As the crypto market has taken a turn for the worse, institutional investors are phasing out their investments in Ethereum. The digital asset had been the victim of multiple outflows that had tanked its total AuM (Assets under management) and this trend has continued this week. Instead of moving to a larger competitor, Bitcoin, institutional investors are now moving to networks that are in direct competition with Ethereum. Big Money Leaves Ethereum To Algorand Algorand is one of the leading competitors of Ethereum which has been making waves in the decentralized finance (DeFi) space. Due....
Anchorage's new service comes in anticipation of the Ethereum network’s long-promised shift proof-of-stake consensus. Anchorage Digital, a San-Francisco-based digital platform that owns the first federally chartered crypto bank, will open an option to stake the Ethereum (ETH) for institutions. This move comes in anticipation of the Ethereum network’s long-promised shift from proof-of-work (PoW) to proof-of-stake (PoS) protocol. Anchorage announced on Tuesday its intention to introduce ETH staking — a practice of earning rewards for serving as a transaction validator in the Ethereum....
Bitcoin’s price was close to $16,000 Friday but lost momentum while ether locked in DeFi is on a downward trend.