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Cardano and Solana Continue to See Inflows While Ethereum Records Outflows

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Wed, 13/10/2021 - 9:21
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Cardano and Solana Continue to See Inflows While Ethereum Records Outflows
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According to a report published by CoinShares, cryptocurrency funds have extended their streak of inflows, raking in over $226 million last week.

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Bitcoin accounted for the lion's share of the aforementioned figure with $225 million. This development is not surprising since the narrative about U.S. securities regulators potentially approving a futures-based Bitcoin exchange-traded fund has been driving the cryptocurrency's prices higher.

Solana and Cardano recorded minor inflows of $12.5 million and $3 million, respectively.

Ethereum funds, on the other hand, hemorrhaged $14 million. The second-largest cryptocurrency is down nearly 25% from the start of September.

XRP, Polkadot, Litecoin are also in the red.

Leading cryptocurrency money manager Grayscale has $49.5 billion worth of assets under management, according to its latest update.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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