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XRP and Cardano (ADA) Eye Explosive $1 Million Inflows Amid Massive Bitcoin Exodus

Mon, 07/31/2023 - 12:50
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Gamza Khanzadaev
Investors prefer XRP and Cardano over Bitcoin and Ethereum right now, shows recent CoinShares' report
XRP and Cardano (ADA) Eye Explosive $1 Million Inflows Amid Massive Bitcoin Exodus
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In the realm of digital asset investments, the past week witnessed a remarkable shift in funds. According to a recent report from CoinShares, a prominent analytical portal, a total of nearly $21 million dollars was withdrawn from various investment products linked to cryptocurrencies. The situation appeared grim for major players like Bitcoin (BTC) and Ethereum (ETH), which experienced substantial outflows of $19.4 million and $1.9 million, respectively.

Ripple v. SEC: Ex-CFTC Lawyer Reveals True Meaning of XRP Ruling

However, amid this overall negative trend, certain cryptocurrencies stood tall, attracting a flood of investments. The star performers were investment products focused on Cardano (ADA) and XRP, as the report revealed they collectively saw inflows exceeding $1 million. This unexpected success is even more impressive when compared to the bleak performance of major players.

Source: CoinShares

As things stand, both XRP and ADA boast positive year-to-date inflows, standing at $10 million and $6 million, respectively. Additionally, Solana (SOL) also attracted attention, witnessing an inflow surge of $600,000 in the past week. The combined value of all inflows and outflows for SOL funds since the beginning of the year reached a significant $15 million.


Attention on and investments in XRP, ADA and SOL can be attributed to positive developments in the regulatory space. These three assets, which were previously targeted by the Securities and Exchange Commission, have now found favor with near-traditional investors. The recent July verdict in the SEC's case against Ripple seems to have shifted the paradigm in favor of the crypto industry, amplifying the confidence of investors.

SEC Wanted Coinbase to Delist Shiba Inu (SHIB), Cardano (ADA), and Other Altcoins

All in all, the crypto industry's present favorable position hints at exciting prospects ahead, although the general future remains uncertain.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.