Nasdaq Acknowledges Cardano (ADA) as a “by the people, for the people” Type of Currency
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Digital Assets Manager, CoinShares, has revealed that institutional investors are increasingly buying Cardano (ADA), Polkadot (DOT), and XRP, as the crypto market strives to regain its surging momentum following the massive crash of the past weeks.

In a new report, CoinShares pointed out that investors are adding more positions to their crypto holdings in the midst of price instability in the crypto market.

Read Also: Exit Scam: DeFi100 Coin Shuts Down, Runs Away With $32 Million in Investors’ Funds

According to the report, crypto investment products recorded a net inflow of $74 million a week ago, after two weeks of massive outflows of relatively $151 million.

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CoinShares pointed out that proof-of-stake coins are one of the most popular assets among crypto buyers with ADA, DOT, and XRP attracting inflows worth $5.2 million, $3.8 million and $4.5 million, respectively last week.

However, data shows that Ethereum (ETH), the second-largest cryptocurrency by market cap, attracted relatively 27% of the inflows last week, which seats at $47 million.

Read Also: Cardano (ADA) Flawlessly Beats Bitcoin, Gold, and Banking System In Terms Of Energy Efficiency

The report reads in part as follows:

“Investment product flows indicate that altcoins remain popular with inflows into all altcoin investment products.”

Within the same timeframe, the flagship digital currency recorded outflows of $4 million.

In total, the amount of Cardano (ADA), Polkadot (DOT), and XRP under management (AUM) is valued at $27 million, 41 million, and 45 million respectively.

Read Also: Charles Hoskinson: Ethereum Is Actually Killing Itself, Cardano Is Leading the Fight

However, Bitcoin (BTC) is leading others with over $30 billion in AUM, followed by Ethereum (ETH) with $11.82 billion.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.