Even though the price of many cryptocurrencies dropped last week, investors kept buying Ethereum and Solana.
Big Money Flowing In
According to a report, investors put a whopping $176 million into these cryptocurrencies last week. This happened across the globe, showing that people are still really interested in crypto.
Ethereum Takes the Lead
Surprisingly, Ethereum attracted the most investment, even more than Bitcoin. This is a big change from the usual trend where Bitcoin usually gets the most attention.
Institutional Investors Still Bullish
Even though the overall crypto market went down a bit, investors still seem confident about the future of crypto. This is especially true for institutional investors, who are big players in the market.
Trading Volume Soars
The amount of trading in crypto exchange-traded products (ETPs) was also higher than usual last week. This shows that people are actively buying and selling crypto.
Ethereum Dominates Inflows
Ethereum investment products got a huge $155 million last week, almost 90% of all the money flowing into crypto products. This is a big deal, and it shows that Ethereum is becoming even more popular.
Solana Also Sees Gains
Solana, even though its price dropped a bit, still attracted $4.5 million in investment. This shows that investors still believe in its potential.
Short-Bitcoin Products See Outflows
On the other hand, investors pulled $16 million out of products that bet on Bitcoin going down. This suggests that people are less worried about Bitcoin dropping in price.
Global Interest in Crypto
Investors from all over the world put money into crypto last week. The US was the biggest investor, but even regions like Switzerland, Brazil, and Canada saw significant inflows.
The Future Looks Bright
The fact that investors are pulling money out of products that bet against Bitcoin and putting it into Ethereum and Solana suggests that they are becoming more optimistic about the future of crypto. The market seems to be recovering from its recent dip, and many cryptocurrencies are starting to go up again.
