Is This Altcoin the New Favorite of Institutional Investors After Bitcoin? They’ve Been Buying for Weeks!

Bitcoin (BTC), Ethereum (ETH) and altcoins lost the upward momentum they had in recent days and turned downward.

While this situation is temporary and new ATHs and the altcoin season are expected to begin in the following months, Coinshares published its weekly cryptocurrency report and said that there was an inflow of $ 785 million last week.

“Inflows into cryptocurrency investment products reached $785 million last week, bringing the total to $7.5 billion since the beginning of the year, completely offsetting the outflows in February-March.”

Big Breakout from Ethereum!

When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin.

While BTC experienced an inflow of $557 million, positive sentiment returned to Ethereum (ETH) and an inflow of $204.9 million was experienced.

When we look at other altcoins, SUI experienced an inflow of $9.3 million, XRP experienced an inflow of $4.9 million, while Solana (SOL) experienced an outflow of $0.9 million.

“Bitcoin attracted $557 million in inflows, down from the previous week, likely due to continued hawkish signals from the US Fed.

Ethereum was the standout performer with inflows of $205 million last week and $575 million YTD. Conversely, Solana was the only altcoin to record outflows of $0.89 million.”

When looking at regional fund inflows and outflows, the USA ranked first with an inflow of 681 million dollars.

After the USA, Germany had an inflow of $86.3 million and Hong Kong had an inflow of $24.2 million.

Against these inflows, Sweden had an outflow of $16.3 million and Canada had an outflow of $13.5 million.

*This is not investment advice.

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