Thursday, July 29

CoinShares Says Investors Have Invested Millions in Altcoins

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altcoin

Digital asset manager CoinShares stated that investors are pouring millions of dollars into Ethereum (ETH), Ripple (XRP), Cardano (ADA) and other crypto assets.

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In its weekly report, Coinshares looked at where investors are transferring their money. According to the company, $33 million was transferred to Ethereum and the second largest cryptocurrency topped the list.

“Digital asset investment products saw a total outflow of $94 million last week. Despite the clear ups and downs, we believe this sentiment marks a positive turn after May, when the sentiment was bad.

Ethereum remains the most preferred altcoin by investors, with $33 million in inflows.”

According to the report, the week in which Bitcoin saw a record exit of $ 141 million shows that negative emotions are concentrated on Bitcoin. The data shows that investors remain cautious after Bitcoin slumped from its all-time high of $63,500 to $30,000.

“Digital asset investment product trading volumes show that investors remain cautious with Bitcoin, with weekly volumes down 62% from last month.”



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