Institutional Money Flows Into Cardano As Crypto Market Sentiment Recovers: CoinShares

[ad_1]

Crypto asset management firm CoinShares says institutional investors are showing interest in Cardano (ADA) as broader crypto markets show signs of recovery.

In a new weekly report, CoinShares says Ethereum’s competitor registered entries worth $ 1.3 million in the past week. Since the start of the year, Cardano has recorded institutional investments amounting to $ 28 million.

Polkadot (DOT) and Stellar (XLM) also registered minor entries last week. The interoperable blockchain and multicurrency transaction network both printed flows of less than $ 1 million.

As for Bitcoin, CoinShares notes that the main cryptocurrency remains the “main relief valve for investors” after BTC recorded outflows of $ 22 million in the second week of August.

Looking at Ethereum, CoinShares says the major smart contract platform has seen minor outflows of $ 1.1 million over the past week.

CoinShares highlights one of the reasons for weak institutional investment in all digital asset products.

“Despite the lingering negative sentiment, this comes at a time of low investor participation likely due to seasonal effects as seen in other asset classes. Volumes now stand at $ 3.1 billion per week in investment products, up from $ 7 billion per week in May. “

However, the crypto asset management company notes that the recent rally in the crypto markets has contributed to an increase in the value of Total Assets Under Management (AUM) across all investment products.

“In contrast, sentiment appears to be picking up in the overall crypto market judging by recent price hikes. That pushed total assets under management of investment products to $ 55 billion, up 10% week-over-week. “

Source: CoinShares / MediumDon’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest news No notice liability: The opinions expressed in Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

Featured Image: Shutterstock / Sergii Molchenko

[ad_2]