Select Page

Cardano Tops CoinShares’ Weekly Digital Asset Fund Flows Report

Cardano Tops CoinShares’ Weekly Digital Asset Fund Flows Report
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

CoinShares’ newest weekly digital asset fund shows that Cardano (ADA) enjoyed the highest inflows, $10 million, while Bitcoin (BTC) saw $111 million in outflows.

Cardano tops inflow charts

In their weekly digital asset fund flows report, CoinShares breaks down yet another week of massive outflows across the cryptocurrency industry. The report showed that last week, while many coins were experiencing continued outflows, Cardano saw inflows of $10 million.

The report posits that this is a result of “investors actively choosing proof of stake coins based on environmental considerations.”

Environmental issues have become a hot topic within the cryptocurrency world in recent months with many concerned about the effect that mining is having on the earth. 

This marks two weeks in a row that, despite other digital assets suffering, ADA has seen strong inflows. In CoinShares’ May 17 report, Cardano totaled $6 million in inflows from the previous period. 

Year-to-date, Cardano investment products have taken in $24 million in institutional assets. At the time of press, Cardano is trading at $1.53, up 17% since its weekly open. 

Bitcoin still experiencing massive outflows

On the other hand, bitcoin suffered large outflows for a second straight week. In its May 17 report, CoinShares saw BTC experience outflows of $115 million total. This week, things aren’t much better, with a reported $111 million in outflows. This marked the second week in a row that BTC recorded over $100 million in outflows after last week’s record-breaking low mark. 

Bitcoin hit another low mark last week when it saw inflow transactions to exchange wallets drop to less than 25,000. It was the worst daily number seen all year and comes on the heels of a new daily high set just last week. 

The dip came after, among other things, Elon Must announced that Tesla would no longer be accepting BTC as a payment method. The announcement came after major environmental concerns surrounding bitcoin and mining arose. Other negative stories that are contributing factors to this market dip are the Chinese crackdowns, and Hong Kong moving to ban retail crypto trading.  

Bitcoin is now down around 34% since the monthly open and is trading at $38,475 after hitting an all-time high of $64,868 less than two weeks ago.

The post Cardano Tops CoinShares’ Weekly Digital Asset Fund Flows Report appeared first on BeInCrypto.

 

Source: BeInCrypto

 

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Categories

Select a Sub Category
category
614fca7c91c50
0
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber