Crypto investment products continued to experience institutional inflows for the 12th week in a row, according to data from digital asset management firm CoinShares.
Institutional investors have shifted the direction of the amount of capital they have allocated to the crypto markets to a surprise altcoin that has suddenly entered their radar.
Seems like, Tron (TRX) surprisingly, it neared the top of the altcoin list, recording $21.9 million in entries last week. According to crypto investment firm Ethereum (ETH), Solana (SOL), Polkadot (DOT), Cardano (ADA)) and XRP followed by Tron with notable weekly entries. The only altcoin to break out is on the radar of analysts in the past weeks. Litecoin (LTC) it happened.
In the week ending November 5, Ethereum registered $31.4 million, Solana $9.6 million, and Polkadot and Cardano $8.5 million and $5 million respectively. In the same period, XRP inflows reached a total of $ 2.5 million. Litecoin, on the other hand, recorded an outflow of $ 1.9 million.
Also last week, Bitcoin (BTC) saw the largest entry volume of all crypto assets. Year to date, the flagship cryptocurrency has registered over $6 billion in entries.
“Bitcoin saw a total inflow of US$95 million last week, representing the largest inflow of all digital assets. In this 8-week bull run, entries totaled US$2.8 billion and year-to-date entries reached a record high of US$6.4 billion.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.