Investments in Solana products were steady throughout the year, following intensive improvements to performance and reliability.
Investor confidence was affected by a five-hour network outage earlier this month. This was caused by a software bug which caused transactions to go into an endless loop.
Solana’s troubles continue
Among altcoins only those investment products associated with Solana have seen outflows. These jumped to $3 million during the last week. This figure is nearly twice as much as the previous week when Solana was the only altcoin to experience outflows. saw Outflows of $1.6 million
Ethereum, its rival, however, saw an inflow of $17million.
During this same period, Chainlink and XRP also received $1.8 and $1.1 millions inflows respectively. Cardano- and Litecoin-based investment products settled with inflows totaling $0.4 million and $1.1 million respectively.
Bitcoin is the most popular digital asset according to CoinShares latest Digital Asset Fund Flows Weekly Report. experienced The total amount of inflows for the year to date is now $5.6 billion, thanks to $570 millions inflows last week. The recent price rises have led to minor inflows totaling $3.9million into short bitcoin positions.
CoinShares reports that weekly inflows of $598 million were recorded for investment products focusing on digital assets. It was the fourth week in a row that such an inflow occurred. Inflows to date have exceeded $5.7billion, which is 55% of record inflows in 2021.
This week, total assets under management (AuM), the sum of all assets managed, reached $68.3 Billion, which is the highest level since December 2021. However, it’s still lower than the record-breaking $87 Billion in November 2021.
While blockchain stocks had a poor week, they saw outflows of $81 million. This suggests that equity investors are currently cautious.
US dominates investment inflows
The US remains the most important region in terms of flows, with $610 million of them coming from the incumbent issuer Grayscale.
Brazil and Switzerland saw minor inflows, of $8.2 and $2.1 millions, respectively. Canada and Sweden, on the other hand, experienced outflows, totaling $18 and $8 million. Germany experienced a small outflow of $0.3 million.
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Source: cryptopotato.com