- Institutional investors are preferring Solana for their cash inflows this week.
- One-third of total cash inflows to crypto-assets were to Solana.
- ADA, ETH, LTC and DOT also made it to the top 5.
It seems institutional investors have found Solana to be their number one this week. The DeFi protocol took up one-third of total cash inflows to crypto assets for the week between August 15 and August 20.
As per CoinShares’ Digital Asset Fund Flows Weekly report dated August 23, a total of $7.1 million flowed into Solana investment products. To match with this inflow rise, Solana (SOL) has also gained 8.38% this week. At this moment, it trades for a price of $78.58.
The report also stated that institutional crypto investment products also resisted a six-week trend of outflows. In fact, almost $21 million flowed into the sector this week. It is also noteworthy that products tracking Cardano (ADA) made it to second place. Its popularity with institutions closely followed Solana’s, at $6.4 million. Ethereum (ETH), Litecoin (LTC), and Polkadot (DOT) made it to the top 5 too at $3.2 million, $1.8 million and $1.1 million respectively.
New Milestones: Bitcoin’s 7th Week of Outflows and AUM Peak.
Further, the report showed that the total value of assets under management (AUM) has increased to $57.3 billion. This new milestone may be credited to the bullish market run this week. This is its largest level since its last peak at around $66 billion during the mid-May market rally.
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