BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets

Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets
High-performance blockchain Solana (SOL) is growing in popularity among cryptocurrency investors, threatening more established crypto asset investment products.
According to digital asset management firm CoinShares, the seventh-largest cryptocurrency by market cap saw more inflows than Bitcoin and Ethereum during the week ending September 13th.
 
During the period when the cryptocurrency market largely saw declines, Solana defied the trend by rising in price while recording close to $50 million in inflows compared to Bitcoin’s $0.2 million and Ethereum’s $6.3 million.
“During last week’s price falls, Solana’s price was a stalwart, outperforming a basket of the top 10 digital assets by 34%, having risen 24% week-on-week. This was reflected with inflows, dwarfing any other digital asset, totaling almost US$50m. A combination of price appreciation and inflows now brings Solana’s assets under management (AuM) to US$97m, the 5th largest of all investment products.
Bitcoin remained flat for the week with a paltry US$0.2m of inflows, while Ethereum saw minor outflows totaling US$6.3m.”
CoinShares also says that during the seven-day period, cryptocurrency investors continued to diversify. Altcoins such as Cardano (ADA), Polkadot (DOT), and XRP consequently recorded higher inflows than Bitcoin.
“The trend of diversification remains intact amongst investors, with inflows into Cardano, multi-asset, XRP, and Polkadot totaling US$3.5m, US$3.2m, US$3.1, and US$1.7m respectively.”
Year-to-date, Solana has recorded an impressive level of inflows, according to CoinShares. With the exception of multi-asset crypto investment products, Solana now enjoys the third-highest level of inflows year-to-date.
So far in 2021, Solana has recorded $74 million in inflows, which remains dwarfed by Ethereum’s $985 million and Bitcoin’s $4.24 billion. Polkadot, Cardano, and XRP are behind Solana with year-to-date inflows of $70 million, $65 million, and $51 million respectively.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix
 

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/annfossa
The post Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News