Investors cautiously re-enter crypto funds while ETH vehicles show strength
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 59.2% | 81 | $16 874.70 | 3.65% | 1.89% | $324 337 050 706 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 61.6% | 79 | $1 266.25 | 6.98% | 8.69% | $154 955 601 290 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999728 | 0.01% | 0.07% | $65 344 934 206 |  |
|
| 4 |  BNB |
Binance Coin predictions | 68.4% | 65 | $296.30 | -0.06% | 8.15% | $47 398 738 411 |  |
|
| 5 |  USDC |
USD Coin predictions | 90.8% | 1 | $0.999939 | -0.03% | -0.04% | $43 268 973 600 |  |
|
| 6 |  BUSD |
Binance USD predictions | 92.8% | 1 | $1.000196 | 0.03% | -0.09% | $22 374 674 909 |  |
|
| 7 |  XRP |
XRP predictions | 66% | 66 | $0.401945 | 4.59% | 6.55% | $20 213 805 129 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 57.2% | 85 | $0.106316 | 5.04% | 30.08% | $14 104 970 590 |  |
|
| 9 |  ADA |
Cardano predictions | 60.4% | 81 | $0.313237 | 1.61% | -1.08% | $10 787 813 925 |  |
|
| 10 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 64.8% | 72 | $0.859004 | 3.26% | -0.55% | $7 502 809 463 |  |
|
| 12 |  DOT |
Polkadot predictions | 65.6% | 67 | $5.39 | 4.32% | -0.09% | $6 145 246 302 |  |
|
| 13 |  DAI |
Dai predictions | 91.2% | 1 | $0.999629 | -0.07% | -0.19% | $5 639 262 730 |  |
|
| 14 |  LTC |
Litecoin predictions | 66% | 74 | $78.44 | 3.69% | -3.79% | $5 626 037 116 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 66.4% | 66 | $0.053898 | 1.37% | 5.61% | $5 480 160 672 |  |
