2023-09-18 15:41:07
Recent data shows that cryptocurrency investment products are consistently showing sizable outflows. Bitcoin (BTC) accounted for 85% of these outflows in the last week. On the other hand, some prominent cryptocurrencies, such as Ripple (XRP), Solana (SOL), and Cardano (ADA), saw inflows from institutional investors.
According to the last report data, digital asset investment products saw a total outflow of $54 million in the last week. From them, an outflow of $45 million in Bitcoin (BTC) was recorded. This week, the short-bitcoin recorded an outflow of $3.8 million, but its accumulated inflows for the month remain at $12 million, making it one of the most in-demand investment products on the market.
SOL, XRP AND ADA Shine in a Dull Week for Investment Products
The US SEC has once once more delayed its decision on the Bitcoin ETF. Therefore, analysts attribute the poor performance of crypto assets to this delay. Ethereum showed better investment fundamentals and high demand in its staking performance, but still recorded an outflow of $4.8 million, Binance Coin (BNB) and Polygon (MATIC) were other cryptocurrencies that registered minor outflows.
However, SOL, ADA and XRP have continued to attract more investors. SOL was the most chosen cryptocurrency, recording inflows of $0.7 million. ADA and XRP followed with inflows of $0.43 million and $0.13 million, respectively. Because of that, all of these tokens also experienced a relatively positive movement in their price.
Experts believe there is a lot of scrutiny and uncertainty in the US cryptocurrency regulatory space. This has a lot to do with the interest shown by investors and operators in the market. The rigid stance of the authorities and the United States government is slowing the growth of the cryptocurrency market.
The Whales Return to Action
The new week has started strong for cryptocurrencies as BTC has broken through the $27,000 level. Most cryptocurrencies are trading in visibly green territories compared to last week. These are positive signs for the market, which has been stuck in bearish ranges for several days.
Additionally, crypto whales are also showing some movement. A whale has reportedly purchased around 92,600 ETH call options contracts worth $150 million on the Deribit exchange. Each options contract represents 1 ETH on the cryptocurrency exchange market.
In just the past hour, over 40,000 ETH Block calls were traded, almost all buying 29DEC23-2200-C, and with the nearly 50,000 buying 27OCT23-2000-C last night, the cumulative number of block calls traded has reached 92,600 ETH.
The whale actively bought $150 million worth of… pic.twitter.com/GwI39Ph0GZ— Greeks.live (@GreeksLive) September 18, 2023
1695066527
#Solana #SOL #Ripple #XRP #Record #Inflows #Institutional #Investors
