Tuesday, September 28, 2021
HomeNewsSolana Trumps Ethereum, Bitcoin, and Cardano by Investing.com

Solana Trumps Ethereum, Bitcoin, and Cardano by Investing.com

Investing.com – The demand for institutional products is decreasing, while Solana is increasingly in focus. More than 85 percent of the inflows last week came from products that enable a Solana investment.

A total of $ 49.4 million went into investment products between September 6 and 10. This means that the demand has increased by more than 200 percent compared to the previous week, as the data from CoinShares show.

During the same period, $ 6.3 million were withdrawn from Ethereum investment products, while Bitcoin only recorded inflows of $ 200,000.

Although the Alonzo upgrade was pending, with which the blockchain became smart contract capable, the inflows fell by 46 percent compared to the previous week.

The inflows of funds were different for the asset managers. CoinShares XBT and Purpose funds lost $ 24.7 million and $ 45.5 million, respectively, while 21Shares, ETC Group and CoinShares posted inflows of $ 75 million, $ 13 million and $ 6.1 million, respectively.

Grayscale remains the undisputed top dog, as the company holds the largest portfolio of crypto investments with 41.8 billion dollars.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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