Ethereum

Solana

Bitcoin

Million

Gains

Last week, investment funds related to digital assets received another relatively small inflow, continuing a two-week trend. More invoicing can be observed in the investment funds sector, which experienced a net inflow of $30 million during the previous week. Indeed, Bitcoin was among the notable gains in investor interest this week.
Bitcoin once again dominated in terms of the total inflows, exceeding the previous week’s result after the dominance by Ethereum last week. At the same time, Solana saw its largest outflow on record, which a simple reduction in trading volumes of Solana-based meme coins can explain.&nbsp; Bitcoin Maintains Market Dominance&nbsp; 
Investors are cautious due to emerging mixed economic signals from the recent CoinShares weekly report on inflow and outflow trends on digital asset investment funds in the previous week.&nbsp;
The report adds that the investment product linked to digital assets witnessed moderate fund flows of about $30 million.&nbsp;
The community was agitated about investing in digital asset investment funds, partially due to recent reports suggesting that the FED has a relatively small chance to cut interest rates by 50 bps in September. Under such circumstances, the weekly trading volume was estimated at $7. 9 Billion, 50% down from the previous week’s figure.&nbsp;
Recall that nearly all the reported inflows were invested in Bitcoin-related offerings. It recorded $42 Million in inflows, 223% more than the $13 Million the previous week. Slightly below the inflow rank comes the multi-asset investment products that opened at a $21M inflow. Such products that provided exposure to a broad range of cryptos have also remained popular among investors. Crypto Outflows 
Outflows from Ethereum, on the other hand, deteriorated sharply. Cryptocurrencies based on the Ethereum platform had only $4. The latest data shows that one hundred fifty-five Million were recorded the previous week; the weekly average is down by 97% to $2 Million. Four signed up in the last week. In this regard, however, CoinShares also observed significant activity movement between providers in Ethereum.
Finally, XRP experienced a slight net deposit rate of $0.2 million, which was slightly bullish but still relatively conservative after the recent decision on the SEC-Ripple case.&nbsp;
Solana is at the top with $38.9 million in outflows, which remains the highest weekly net outflow recorded in the country. This instead resonated with the current perception of the Solana ecosystem, mainly meme coins. Solana’s bulls were able to defend their price of around $140 last week, yet the same cannot be said for meme coins built on Solana.&nbsp;
These memecoins, which helped to pump institutional interest in Solana at the beginning of the year, are now causing inflows. Short-Bitcoin ETFs experienced $0.9 million in outflows. Yet, this implies that there is still a bullish outlook towards Bitcoin, but it is less exuberant than a record $16.2 million outflow recorded in the previous week only. This clearly indicates that Bitcoin investors have switched to a more rational investment mode.

Bitcoin Slowly Gains Inflow; Solana Records Largest Outflow

Todayq News

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