The CoinShares report shows that for the first time in history, the inflow of institutional investors into the Ethereum market was higher than the bitcoin market.
to the the report Crypto Slate, Coin Shears notes in another part of his report that Bitcoin last week saw the largest outflow of capital from its market in history.
Coin Shears, the second largest asset management company in Europe, claims that $ 98 million has left the bitcoin market. The company writes in its report:
Outflows were mainly Bitcoin investment products, totaling $ 98 million or 0.2% of all assets under management. [شرکت] have been. This is while this is the highest amount of capital output in history [شرکت] Is. In the next category is the $ 19 million outflow capital for May 2019.
Prior to last week’s crash, Bitcoin investment products accounted for the largest share of outflow capital. Ethereum, on the other hand, was the second largest digital currency on the market, with a large volume of inbound capital. Ethereum Investment Products recorded $ 4.1 billion in trading volume, compared to Bitcoin’s $ 3.1 billion in inflows.
Last week, this was the only bitcoin associated with capital outflows, and the other Ethereum of other coins saw capital inflows. In total, the Altcoins market had $ 48 million in inflows. Coin Shears writes about this:
These investors sought to diversify their assets by exiting the Bitcoin market and entering the market for Altcoin investment products.
After Ethereum, which saw $ 27 million in inflows last week, were followed by Cardano with $ 6 million and Polkadot with $ 3.3 million.
In the middle of last month, the price of Bitcoin reached a historic high of $ 65,000 and then lost 35% of its value. Investors, meanwhile, diversified their portfolios and moved on to the tools they sought to develop in their networks. Coin Shears cites Ethereum as an example of this approach.
Although digital currency investment products were associated with $ 50 million in outgoing capital, this does not appear to have an impact on the overall digital governance environment. Coin Shears writes about this:
Historical data show that the volume of outgoing capital, even at the current volume, can not have much effect on the sentiment in the digital asset market.