Cardano, Solana and XRP defy negative investment trend

Solana Crypto 1

IMPORTANT POINTS:

  • CoinShares reports outflows in digital assets of 450 million in 8 of the last 9 weeks, with Bitcoin suffering the largest losses.
  • The United States is the primary region for outbound activity in the cryptocurrency market.
  • Despite the trend, Solana (SOL), Cardano (ADA) and XRP show positive flows, standing out in the current investment landscape.

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While the institutional investment landscape shows signs of reservations, there are some cryptocurrencies that are breaking those expectations. According to renowned digital asset manager CoinShares, Cardano (ADA), Solana (SOL), and XRP are bucking the prevailing trend.

The latest weekly report from CoinShares, titled Digital Asset Fund Flows Weekly Report, reveals a notable decline in investor enthusiasm. This trend is evident, with net outflows present in eight of the last nine weeks, accumulating an impressive total of more than 450 million.

In detail, last week, digital assets had outflows of 54 million. Surprisingly, this data marks the fifth consecutive week in which negative net flows have been recorded.

CoinShares points out: “Flows in products related to digital assets presented outflows of 54 million the previous week, which represents the fifth consecutive week of outflows. In total, in 8 of the last 9 weeks we have observed outflows totaling 455 million, causing the net inflows for the year to be reduced to only 51 million.”

It is notable that, according to CoinShares observations, a significant proportion of these outflows originate from the United States. And, as usual, Bitcoin (BTC), the market leader in terms of capitalization, has suffered the largest losses.