Institutional investor interest in both the leading cryptocurrency Bitcoin (BTC) and the second largest cryptocurrency by total market cap Ethereum (ETH) seems to have waned.
It turned out that the cryptocurrency that attracted the attention of institutional investors instead of them was Solana (SOL). Solana has an 86% share among the cryptocurrencies that institutional investors transferred their capital to last week.
CoinShares Shares SOL Data
on September 14 CoinShares The institutional investor made an investment of $49.4 million between September 6 and September 10, according to data shared by The fact that the total investment of the institutional investor is 57 million dollars and the SOL investment is 49.4 million dollars reveals the event very clearly. SOL saw 275% weekly investment growth, reaching 86% of total investment.
In fact, the crypto industry has received investment from institutional investors for four weeks in a row, and CoinShares has always been positive for 4 weeks. This reveals that institutions are currently showing interest in the crypto money sector, but this interest may change at some point. Although the change point is not the investment itself, it seems to be the cryptocurrency in which the investment is made.
Despite Cardano’s much anticipated Alonzo hard fork, the institutional investor didn’t focus much on it and instead Solana continued to stand out. Cardano investment, on the other hand, experienced a serious decline compared to last week.