JAKARTA – In the midst of the recovery of the crypto market after the recent crash, digital asset investment platform Coinshares reported that a number of institutional investors have bought up a number of altcoin cryptocurrencies, namely Cardano (ADA), Ripple (XRP) and Polkadot (DOT).
According to a DailyHodl report, the company revealed that investors have added to their crypto holdings at a time when cryptocurrency prices have plummeted.
The report proves that crypto investments recorded a net inflow of US$74 million last week. This is different when the market is crashing the outflow of funds has reached 151 million US dollars.
At that time, Ethereum (ETH) was able to attract an investment of 47 million US dollars, accounting for 27 percent of the total inflows last week.
In addition, CoinShares also explained that the most popular crypto assets are Proof of Stake (PoS) coins, namely ADA, XRP, and DOT. Last week, the three recorded inflows of 5.2 million US dollars, 4.5 million US dollars and 3.8 million US dollars, respectively.
“The investment product flow shows that altcoins remain popular with inflows to all altcoin investment products,” said CoinShares.
At the same time, the prima donna of cryptocurrency, Bitcoin (BTC) has recorded an outflow of as much as 4 million US dollars.
Nevertheless, based on its market capitalization Bitcoin is still the first cryptocurrency, followed by Ethereum (ETH).
Cardano is in fourth place flanked by Binance (BNB) and Dogecoin (DOGE). While XRP and Polkadot rank sixth and seventh in the ranks of cryptocurrencies with high market capitalization.
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