TRENDING:
Canadian Unemployment
UoM Consumer Sentiment
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Investors cautiously re-enter crypto funds while ETH vehicles show strength

Investors cautiously re-enter crypto funds while ETH vehicles show strength
Cointelegraph TeamCointelegraph TeamCointelegraph

Investors like the looks of proof-of-stake coins, while Ethereum leads the way.

A new report from analytics firm CoinShares shows that while the market dip may not have ended, prices are now at levels where stock market investors are once again showing signs of interest in digital asset funds. 

A report published yesterday from Coinshares shows that multiple funds have begun seeing net inflows after weeks of record outflows in the wake of a crippling, market-wide crypto dip. In totally, legacy markets poured in $74 million into crypto investment vehicles, though not all products showed signs of strength.

While some analysts are calling for Bitcoin as low as $16,000 per BTC, Bitcoin products were among the weakest performers, with $4 million in net outflows. The report notes that altcoins — particularly more environmentally friendly proof-of-stake altcoins — were strong performers, with Cardano, Ripple, and Polkadot funds each seeing above $3 million in inflows. 

The true star of the report is Ethereum, however. ETH vehicles saw a total of $47 million in inflows, making up the majority of net digital asset fund investments and bringing ETH vehicle market dominance up to 27%.

The bullish outlook from investors on the asset comes after a string of bullish reports from academic and institutional finance research desks. Last week both the University of Pennsylvania and Goldman Sachs wrote research arguing for Ethereum as a store of value, in part due to its importance to the DeFi ecosystem.

The world’s largest layer one smart contract platform also has a number of technical advancements and headwinds on the horizon. Layer two scaling solution Arbitrum recently went live with a guarded launch, and the long-awaited gas fee overhaul of EIP-1559 is set for later this year, as well as a likewise much-anticipated transition to a proof-of-stake consensus model.

Author

Cointelegraph Team

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

More from Cointelegraph Team
Share:

Editor's Picks

Starknet Price Forecast: STRK rally tests key breakout amid proposed Layer-1 transition

Starknet Price Forecast: STRK rally tests key breakout amid proposed Layer-1 transition

Starknet is up 16% so far on Friday, advancing its steady recovery of nearly 200% since mid-August. The rally aligns with the rising demand for financial anonymity in the cryptocurrency market and the CEO of StarkWare, Eli Ben-Sasson’s proposed transition of Starknet to Layer-1 to achieve quantum security by 2027.

Top 3 Price Prediction: BTC sheds 5%, ETH loses 50-day EMA, XRP risk breakdown

Top 3 Price Prediction: BTC sheds 5%, ETH loses 50-day EMA, XRP risk breakdown

Bitcoin, Ethereum, and Ripple remain under pressure on Friday after losing over 5%, 9% and 8% so far this week. BTC trades below $82,000, ETH loses $2,500, while XRP retreats toward a key support zone. The price action of these top three cryptocurrencies now faces critical technical levels that could determine whether the correction deepens or a recovery takes shape.

Ethereum Price Forecast: ETH drops below $2,500 as rising Treasury yields trigger selling pressure​

Ethereum Price Forecast: ETH drops below $2,500 as rising Treasury yields trigger selling pressure​

Ethereum fell below $2,500 on Thursday, down nearly 4% and extending losses for a third consecutive day. The decline follows rising Oil prices and US Treasury yields over the past few days. The 10Y Note Yield reached a 24-year high at 5.35%, and the 30Y Note Yield climbed above 5.70% earlier in the day, sparking major distributions in the crypto market.

Hyperliquid Price Forecast: HYPE drops to $84 as Hyperliquid Labs begins $330 million OTC distribution

Hyperliquid Price Forecast: HYPE drops to $84 as Hyperliquid Labs begins $330 million OTC distribution

Hyperliquid Labs distributed 3.75 million HYPE tokens, worth about $330 million, through an over-the-counter (OTC) arrangement with an undisclosed institution, rather than selling the tokens on public exchanges. According to onchain data shared by OnchainLens on Wednesday, the tokens completed a seven-day unstaking period before the full allocation was credited to Hyperliquid Labs’ spot balance.
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.