As the cryptocurrency market stands up to rally once again, institutional entries are concentrated on 4 altcoins, leaving Solana, BNB and Polkadot.
Investors moved $127 billion to the altcoin market
According to a CoinShares study, despite the depressing performance of most cryptocurrencies in the market, the cryptocurrency market saw massive inflows of $127 million in the previous week alone. Inflows to cryptocurrencies have increased significantly this week compared to the previous week due to a minor recovery in the Bitcoin market. According to statistics, as the number of entries into risky assets increases, investors become more active. Among the altcoin projects that managed to raise funds, we see Ethereum, Litecoin and the following cryptocurrencies.
The list of altcoins that have experienced fund outflows during this period:
BNB Coin (BNB)
Which country’s investors are increasing demand?
Positive mood and inflows were mostly concentrated in North America, with total entries exceeding $150 million compared to $24 million withdrawn from Europe. Bitcoin was the most popular asset among institutional investors, with investments of nearly $100 million. The Purpose ETF, which invested $130 million in the Bitcoin market just last week, is the largest supplier of entry. Clients of the fund pulled $21 million from the market, making CoinShares XBT the biggest loss.
Alternative cryptocurrencies like Ethereum and other altcoin projects have logged around $33 million last week. The second-largest cryptocurrency raised $25 million, and $8.6 million went to other multi-asset ETFs. The return of institutional investors to the crypto market could signal the start of a reversal after more than three months of declines in which most cryptocurrencies lost 50%. The overall capitalization of the cryptocurrency market is currently $1.9 trillion after falling to $1.515 trillion in January 2022. At the time of writing, Bitcoin was trading in the region of $ 39,000 and Ethereum at $ 2,600.