{"id":474675,"date":"2021-10-26T23:00:35","date_gmt":"2021-10-26T23:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=474675"},"modified":"2021-10-26T14:34:52","modified_gmt":"2021-10-26T14:34:52","slug":"cardano-solana-lead-altcoin-inflows","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-solana-lead-altcoin-inflows\/","title":{"rendered":"Cardano, Solana Lead Altcoins As Market Sees Record Inflows"},"content":{"rendered":"
Cardano and Solana have led the charge of altcoins in the recent round of inflows into the crypto market. Altcoins saw increased inflows alongside bitcoin, which had seen increasing interest from investors after the first bitcoin ETF had been approved and began trading last week. Last week recorded the highest amount of institutional inflows coming into the market.<\/p>\n
Institutional investors are now upping their stake in the market with the recent gains recorded across the market. Most notably has been the price of bitcoin which had broken a new all-time high following the trading of the first bitcoin ETF. The ETF had been released with much success as over $1 billion had been traded within the first 24 hours of the ETF being released. CoinShares released a report<\/a> showing that institutional investors are not relenting with their investments.<\/p>\n Although altcoins had seen inflows into both assets last week, bitcoin had once again led the market inflows. The record-breaking inflows saw $1.47 billion flow from institutional investors into the market, and bitcoin accounted for a large portion of it. The amount marked the largest inflows in the space of a week in the market.<\/p>\n Related Reading |\u00a0Yieldly\u2019s CEO Says Interoperability In DeFi Is More Important Than A Market-Leading Blockchain<\/a><\/strong><\/em><\/p>\n Bitcoin has led inflows in the previous weeks and this past week was no exception. Bitcoin inflows made up 99% of the total institutional inflows. The digital asset alone saw inflows total $1.45 billion last week. Most of this came from trading in the approved bitcoin ETFs that began trading last week.<\/p>\n Additionally, the digital asset saw inflows totaling $138 million into bitcoin products in other regions. CoinShares also reported that there had been records of profit-taking in the market but the volume was inconsequential in contrast to the total inflows.<\/p>\n Cardano and Solana recorded the highest inflows for the week for altcoins. Leading altcoin Ethereum had recorded a 3rd consecutive week of outflows from the digital asset, suggesting waning faith in Etheruem. However, other altcoins picked up the slack in this regard.<\/p>\n <\/p>\n Although nowhere near the inflows recorded by top cryptocurrency bitcoin, Cardano and Solana managed to hold their own in the market. Solana took the lead for the altcoin with the highest inflows with a total of $8.2 million for the week. Cardano also recorded a positive week of inflows with a total of $5.3 million flowing into the digital asset.<\/p>\nBitcoin Leads Market Inflows<\/h2>\n
Cardano, Solana Lead Their Peers<\/h2>\n
ADA price slows above $2 | Source: ADAUSD on TradingView.com<\/a><\/pre>\n