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Cryptocurrency News

Institutional investment flows out of ETH and into competing L1 altcoins

04/26/2022

Less than a minute

2022.04.26 09:52

Institutional investors have shifted their attention from Ethereum (ETH) to competing Layer 1 blockchains of late, with capital inflows for altcoin investment products increasing last week whilst Ether products posted outflows for the third week in a row.

Data from CoinShares’ latest Digital Asset Fund Flows report shows that investors last week (ending April 22) loaded up on $3.5 million worth of Avalanche (AVAX), Solana (SOL), Terra (LUNA) and Algorand (ALGO) funds whilst capital outflows from Ether products totaled $16.9 million.

CoinShares

Source

04/26/2022

Less than a minute