Recent data show that with rising prices and positive news about Solana and Cardano, institutional investors are also turning to buying these digital currencies.
to the Report Daily Hoodel, digital currency coin management company CoinShares, said Ethereum’s rival Solana had the largest inflow of institutional investors of any market currency over the past week.
According to Coin Shears’ weekly report, the value of the capital allocated to Solana by institutional investors was more than double that of Ethereum.
Coin Shears said:
Solana, Ethereum’s rival, which is more flexible in terms of infrastructure and faster transactions on its network, experienced a $ 7.1 million capital inflow last week above all digital currencies. Ethereum’s capital inflows last week were $ 3.2 million, with other market coins such as Cardano, LightQueen and Polkadot investing $ 6.4 million, $ 1.8 million and $ 1.1 million, respectively.
Solana’s digital currency, backed by FTX CEO Sam Bankman Fried, has risen 92.9 percent in the past two weeks, while Ethereum prices have risen only 11 percent over the same period. had.
Cardano, whose market has become extremely hot these days, has grown by 35% in the last 7 days, however, it has received less attention from institutional investors compared to Solana.
Bitcoin also experienced a capital outflow for the seventh week in a row, experiencing an outflow of $ 2.8 million. Although the capital inflows into the bitcoin market may reflect the negative sentiments of investors, the digital currency “covers very different flows on trading platforms,” says Coin Shears.
According to Coin Shears, digital currencies LightQueen, Polkadot and Ripple also had $ 1.8, $ 1.1 and $ 1 million in investment over the past week, respectively.