Solana has emerged as the most popular Altcoin this year with $5M in revenues: CoinShares
Digital asset investment products saw inflows last week, with a total of $21 million inflows for the first time in 6 weeks.
Interestingly, earlier in the week, the outflow appeared to continue, but the tide turned towards the end of the week, especially on Friday. CoinShares This shift can be attributed to many things, positive price momentum, concerns about the value of US government debt, and the recent crisis around government funding.
In the latest edition of the ‘Digital Asset Fund Flows Weekly Report', CoinShares revealed that Bitcoin saw the majority of its inflows, which reached $20 million last week. In contrast, short-Bitcoin positions continued to experience outflows, with $1.5 million outflows last week. As of April, these spending streams have accumulated to a total of $85 million. While the altcoin market has been relatively quiet, Solana continues to stand out with $5 million in revenue, marking its 27th week of positive activity and only four weeks of outflows this year. This performance positions Solana as the “most loved altcoin” of the year. On the other hand, Ethereum saw a total of $1.5 million in spending for the seventh week in a row, confirming it as the “most loved altcoin.” Regional sentiment differentials were largely unchanged from last week. The asset manager, in its previous report, continued the trend of regional differences, with the United States withdrawing a total of $19 million last week, while Europe and Canada received $23 million and $17 million respectively. Even with recent price increases, trading volumes remain at seasonally low levels in the investment product market and the broader cryptocurrency market.
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