Emerging blockchain platform Cardano (ADA) and open-source blockchain payment platform Stellar Lumens (XLM) are capturing the attention of institutional investors, according to digital asset investment firm CoinShares.
In a new report on the digital asset markets, CoinShares unveils that while many assets are bleeding institutional money, ADA and XLM are receiving positive inflows from big investors.
[adinserter block="1"]The past week Cardano saw inflows of $1.7 million and XLM saw inflows of $1 million, according to the firm.
Cardano’s USD price is stable on the week, down 1.5% over the past seven days. XLM is also in red territory, falling over 7% on the week at time of writing.
In the same week, CoinShares adds that Ethereum saw total outflows of $12.7 million and Bitcoin saw outflows of $10 million. ADA and XLM funds are up, despite the entire digital asset investment product suite seeing outflows of $21 million.
On the month, most crypto funds are in the positive, except for Bitcoin which has seen $156.8 million worth of outflows month-to-date.
As institutional money appears to be fleeing the market, the entire crypto sector is down 4% on the day, according to CoinGecko, with a $1.52 trillion valuation.
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