A new report from the analytics company Coinshares shows that the market crash is not over yet, The prices are currently at a level at which investors are again showing a certain interest in digital asset funds.
According to a report released yesterday by Coinshares, several funds saw net inflows in general after record-breaking weeks of outflows in the wake of a scary downturn in the cryptocurrency market. In total, traditional markets contributed $ 74 million to cryptocurrency investment vehicles, although not all products showed signs of strength.
Cryptocurrencies have seen inflows after record outflows in the past two weeks.
Market share of Ethereum investment products at a record high of 27% .https: //t.co/xhzVCkBjM9 pic.twitter.com/Dw2WrdA2Rs
to???? unfolds. (@cryptounfolded) June 2, 2021
Cryptocurrencies have seen record inflows after outflows in the past two weeks.
The market share of Ethereum investment products reached a record 27%.
While some analysts expect the price of Bitcoin to fall to $ 16,000, Bitcoin products are among the underperformers, with net outflows of $ 4 million. The report notes that altcoins (especially the greener proof-of-stake) performed well. with funding from Cardano, Ripple and Polkadot, each with more than $ 3 million in inflows.
However, the real star of the report is Ethereum. ETH investment vehicles recorded inflows totaling 47 million US dollars, which makes up the largest proportion of net investments in digital asset funds and increases the market dominance of ETH vehicles to 27%.
Investors’ bullish outlook for the asset comes after a number of bullish reports from academic and institutional financial research groups. Both of them last week the University of Pennsylvania and Goldman Sachs wrote a study defending Ethereum as a store of value, in part because of its importance to the DeFi ecosystem.
The world’s largest layer-one smart contract platform also has several technical advances and headwinds on the horizon. The layer 2 scaling solution, Arbitrum, recently activated with the controlled start, and the long-awaited reform of the gas commissions EIP-1559 is planned for the end of this year, as well as a change also expected from a proof-of-stake consensus model.