Despite the tensions between Ukraine and Russia cryptocurrency investment products experienced positive weekly net inflows for the fifth consecutive year.
According to the report by CoinShares Avalanchewith an investment of 25 million dollars in the week ending February 21, placed second in this field.
Ethereum Experienced a Total Exit of $15 Million
According to the report, institutional investors spent $109 million on cryptocurrency investment products last week.
The said expenditures came despite the Russian-Ukrainian tensions in Eastern Europe and the White House is expected to issue a presidential order to regulate the cryptocurrency market.
CoinShares said in its report on the subject:
“Even though institutional investments took place in both Europe and America, American investors were more dominant, with a total inflow of $101 million.”
bitcoin It saw the highest amount of inflows since December of 2021, with $89 million invested in BTC-related investment products last week.
Even so, the report said, inflows over the past five weeks totaled $221 million, which is the average among total assets managed at 0.7%.
with this Ethereum had a net outflow of $15 million. Among the cryptocurrencies in the negative zone BNB Coin ($0.5 million) and XRP (0.1 million dollars) was also there.
Avalanche Becomes the Second Best Performing Cryptocurrency Last Week
Avalanche, which experienced a total net inflow of $ 25 million last week, became the best performing cryptocurrency after Bitcoin.
Claiming to be the fastest smart contracts platform in the blockchain industry, Avalanche is seen as one of Ethereum’s biggest competitors among the rapidly growing layer 1 networks.