{"id":658,"date":"2022-06-15T10:41:40","date_gmt":"2022-06-15T10:41:40","guid":{"rendered":"https:\/\/solanacrypto.news\/2022\/06\/15\/institutional-investors-put-their-bets-on-these-altcoins-as-crypto-market-goes-under-1-trillion\/"},"modified":"2022-06-15T10:41:40","modified_gmt":"2022-06-15T10:41:40","slug":"institutional-investors-put-their-bets-on-these-altcoins-as-crypto-market-goes-under-1-trillion","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2022\/06\/15\/institutional-investors-put-their-bets-on-these-altcoins-as-crypto-market-goes-under-1-trillion\/","title":{"rendered":"Institutional Investors Put Their Bets On These Altcoins As Crypto Market Goes Under $1 Trillion"},"content":{"rendered":"<div itemprop=\"articleBody\">\n<div class=\"key-points\">\n<h3>KEY POINTS<\/h3>\n<ul>\n<li>Ethereum killers Cardano and Solana have been outperforming Ether (ETH)<\/li>\n<li>Ethereum also saw outflows of\u00a0$41 million last week<\/li>\n<li>Cardano and Solana saw inflows of\u00a0$400,000 and $200,000, respectively<\/li>\n<\/ul>\n<\/div>\n<p>Institutional investors are gradually moving their money from leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) after the market crash which caused BTC to go as low as $20,000 while ETH fell to $1,000. These investors have now turned their attention to altcoins Cardano (ADA), Solana (SOL), and XRP.<\/p>\n<p>According to data from <a target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/\" rel=\"nofollow noopener\">CoinMarketCap<\/a> (CMC), the market capitalization of the crypto space went below the $1 trillion level for the first time since early 2021 and as of\u00a011:00 p.m., ET stood at $933 million. Following this market crash,\u00a0CoinShares, a digital asset management firm that provides financial products and services for professional investors, released its\u00a0<a target=\"_blank\" href=\"https:\/\/blog.coinshares.com\/volume-84-digital-asset-fund-flows-weekly-report-72f7fdda557b\" rel=\"nofollow noopener\">Digital Asset Fund Flows report<\/a>\u00a0claiming that institutional investors are gradually moving away from the crypto space while focusing on three altcoins: ADA, SOL, and XRP.<\/p>\n<p>&#8220;Digital asset investment products flows remain choppy in anticipation of hawkish monetary policy, with steady daily outflows last week totaling US$102m,&#8221; said the report, adding that BTC\u00a0saw outflows totaling $57 million last week, bringing\u00a0month-to-date outflows to $91 million.<\/p>\n<p>&#8220;What has pushed Bitcoin into a \u2018crypto winter\u2019 over the last 6 months can by and large be explained as a direct result of an increasingly hawkish rhetoric from the US Federal Reserve,&#8221; the report added. &#8220;Regionally, the majority of outflows were focussed on the Americas, totaling US$98m with Europe seeing just US$2m outflows.&#8221;<\/p>\n<p>Interestingly,\u00a0Ethereum also saw outflows of\u00a0$41 million, bringing the total outflow from year to date\u00a0to $387 million while Ethereum-killers Cardano and Solana saw inflows of\u00a0$400,000 and $200,000, respectively. The year-to-date inflow for SOL now stands at\u00a0$108 million while inflows\u00a0for ADA stand at\u00a0$9.4 million.\u00a0<\/p>\n<p>Ethereum-killers are blockchain networks that aim to dethrone Ethereum by providing more scalable and congestion-free alternatives with negligible gas fees.<\/p>\n<p>Meanwhile, the native token of the XRP Ledger, XRP, saw inflows of $200,000 for this week, bringing the year-to-date inflow for XRP to $6 million.<\/p>\n<p> <span class=\"figure image\" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\" itemprop=\"image\"> <picture itemprop=\"contentUrl\" width=\"768\" height=\"479\" class=\"mapping-embed lazysize\"><!--[if IE 9]><video style=\"display: none;\"><![endif]--><source data-srcset=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg 1x\" media=\"(min-width: 1200px)\"\/><source data-srcset=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed-md\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg 1x\" media=\"(min-width: 992px)\"\/><source data-srcset=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed-md\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg 1x\" media=\"(min-width: 768px)\"\/><source data-srcset=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed-md\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg 1x\" media=\"(min-width: 481px)\"\/><source data-srcset=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed-sm\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg 1x\" media=\"(min-width: 0px)\"\/><!--[if IE 9]><\/video><![endif]--><img decoding=\"async\" itemprop=\"contentUrl\" width=\"768\" height=\"479\" class=\"mapping-embed lazysize lazyload\" src=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg\" alt=\"Hackers linked to North Korea are responsible for the March 2022 theft of $620 million in ethereum, a type of cryptocurrency\" title=\"\"\/><\/picture><meta itemprop=\"url\" content=\"https:\/\/s1.ibtimes.com\/sites\/www.ibtimes.com\/files\/styles\/embed\/public\/2022\/04\/14\/hackers-linked-to-north-korea-are-responsible-for.jpg\"\/><meta itemprop=\"width\" content=\"768\"\/><meta itemprop=\"height\" content=\"479\"\/><span class=\"figcaption\"> <span class=\"caption\" itemprop=\"caption\">Hackers linked to North Korea are responsible for the March 2022 theft of $620 million in ethereum, a type of cryptocurrency<\/span> <span class=\"credit\" itemprop=\"copyrightHolder\">Photo: AFP \/ INA FASSBENDER<\/span> <\/span> <\/span><\/p>\n<\/div>\n<p>\u00a9 Copyright IBTimes 2022. All rights reserved.<\/p>\n<p><script type=\"text\/javascript\">\n<!--\/\/--><![CDATA[\/\/><!--\n(function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(d.getElementById(id))return;js=d.createElement(s);js.id=id;js.src=\"http:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&appId=263851690471857&version=v3.1\";fjs.parentNode.insertBefore(js,fjs)}(document,'script','facebook-jssdk'));\n\/\/--><!]]>\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KEY POINTS Ethereum killers Cardano and Solana have been outperforming Ether (ETH) Ethereum also saw outflows of\u00a0$41 million last week Cardano and Solana saw inflows of\u00a0$400,000 and $200,000, respectively Institutional investors are gradually moving their money from leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) after the market crash which caused BTC to go as low [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=658"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/659"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}