US President Donald Trump's move towards XRP, Solana (SOL) and Cardano (ADA) has turned the cryptocurrency market green.
As investors wait for the Trump-fueled rally to continue, Coinshares released its weekly cryptocurrency report, saying there were $2.9 billion in outflows last week.
“Cryptocurrency investment products experienced a third consecutive week of outflows, marking the largest weekly outflow on record with a total of $2.9 billion.
The total outflow in three weeks reached 3.8 billion dollars.”
Two Altcoins Outperformed Others!
When looking at individual crypto funds, it was seen that the majority of the outflows were in Bitcoin.
While BTC experienced an outflow of $2.59 billion, Ethereum (ETH) experienced an outflow of $300 million.
When we look at other altcoins, the picture was mixed. While TON had an outflow of $ 22.6 million, Solana (SOL) had an outflow of $ 7.4 million; XRP had an inflow of $ 5 million, and Sui (SUI) had an inflow of $ 15.5 million.
“Bitcoin has been hit the hardest by weak market sentiment, seeing $2.59 billion in outflows last week.
Ethereum has also not escaped the negative sentiment and saw a record outflow of $300 million last week.
Solana and Ton also saw debuts of $7.4 million and $22.6 million, respectively.
Sui was the best performing cryptocurrency with $15.5 million inflows, followed by XRP with $5 million inflows.
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an outflow of 2.87 billion dollars.
After the US, Switzerland and Canada saw exits of $73.1 million and $16.9 million respectively.
In the face of these outflows, Germany experienced an inflow of $55.3 million.
*This is not investment advice.
