BTC $43254.00 (1.30%)
ETH $3052.46 (4.89%)
USDT $1.00 (-0.0%)
BCH $509.82 (-0.8%)
BSV $130.00 (-3.6%)
LTC $151.91 (-0.1%)
BNB $347.86 (-0.4%)
ADA $2.25 (-5.6%)
DOGE $0.20 (-1.5%)
BTC $43254.00 (1.30%)
ETH $3052.46 (4.89%)
USDT $1.00 (-0.0%)
BCH $509.82 (-0.8%)
BSV $130.00 (-3.6%)
LTC $151.91 (-0.1%)
BNB $347.86 (-0.4%)
ADA $2.25 (-5.6%)
DOGE $0.20 (-1.5%)

Bitcoin Investors Flock to ETH, XRP, and ADA as They Exit BTC

Bitcoin Investors Flock to ETH, XRP, and ADA as They Exit BTC
  • CoinShares report show BTC outflow totaled $141 million USD
  • Other reports show inflows in ETH, XRP, and ADA increasing

Bitcoin continues to drop as investors move their money out from Bitcoin and into more promising altcoins such as ETH and XRP.

In a report published by digital asset market analysis platform CoinShares, it was shown that Bitcoin’s outflow reached $141 million US dollars while other cryptocurrencies such as ETH and XRP received an inflow of almost $48 million.

The report showed that inflows were seen in the ETH, XRP, and ADA. According to the report ETH received an inflow of $33 million in funds. On the other hand, XRP received an inflow of $7 million. Lastly, ADA also showed an inflow of $4.5 million and $2.7 million in their multi-asset products.

Ethereum continues to be on the news because of the upcoming developments that will be applied to the network. Last week, the digital currency showed strong signs of returning to its all-time high of $4000.

Meanwhile, XRP is still going bullish despite the Co-Founder cashing out back in May. Analysts even predict that the XRP token may reach a new all-time high of 10 USD. Aside from those two cryptocurrencies, ADA is also a strong contender. According to a crypto expert, Cardano has the potential to reach 5 dollars.

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.