Bitcoin
BTC$68 278.57

-0.38%

Ethereum
ETH$3 895.77

-0.31%

Tether
USDT$0.998943

-0.04%

Binance Coin
BNB$601.39

-0.01%

Solana
SOL$171.42

2.71%

USD Coin
USDC$1.000061

0.01%

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


03 Jun 2021

#Ethereum

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.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.2% 43 $68 278.57 -0.38% -4.32% $1 345 400 809 941 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 67.6% 70 $3 895.77 -0.31% 2.68% $468 028 945 782 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.998943 -0.04% -0.09% $111 847 033 976 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 88.8% 6 $601.39 -0.01% -1.98% $88 756 634 769 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.6% 73 $171.42 2.71% -4.55% $77 056 762 894 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000061 0.01% 0.01% $32 464 668 588 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 92.8% 6 $0.531361 0.46% -2.28% $29 453 574 385 XRP 7 days price change
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11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.8% 33 $0.000026 2.23% 0.87% $15 438 115 111 SHIB 7 days price change
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15 Polkadot (DOT) DOT Polkadot predictions 83.2% 33 $7.38 -1.17% -2.07% $10 610 167 735 DOT 7 days price change

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