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 | 70.4% | 62 | $38 967.91 | -7.44% | -7.59% | $737 892 869 372 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 60.4% | 78 | $2 871.05 | -8.60% | -11.22% | $342 372 023 455 |  |
|
| 3 |  USDT |
Tether predictions | 95.6% | 1 | $1.000160 | -0.01% | -0.02% | $78 287 072 748 |  |
|
| 4 |  BNB |
Binance Coin predictions | 71.2% | 56 | $428.81 | -7.90% | -9.28% | $70 802 974 684 |  |
|
| 5 |  USDC |
USD Coin predictions | 95.2% | 1 | $1.000296 | -0.04% | 0.05% | $42 399 121 779 |  |
|
| 6 |  ADA |
Cardano predictions | 74.4% | 49 | $1.23 | -8.69% | -1.46% | $41 378 123 412 |  |
|
| 7 |  SOL |
Solana predictions | 61.6% | 87 | $123.51 | -9.84% | -13.96% | $38 846 684 963 |  |
|
| 8 |  XRP |
XRP predictions | 68.8% | 59 | $0.691874 | -6.72% | -9.81% | $32 976 873 993 |  |
|
| 9 |  LUNA |
Terra predictions | 69.6% | 58 | $77.73 | -5.70% | -0.40% | $27 703 412 550 |  |
|
| 10 |  DOT |
Polkadot predictions | 72.8% | 48 | $22.45 | -8.55% | -14.69% | $22 171 004 822 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 71.6% | 50 | $0.153961 | -6.54% | -20.35% | $20 426 155 179 |  |
|
| 12 |  AVAX |
Avalanche predictions | 66% | 77 | $76.46 | -9.87% | -13.92% | $18 683 659 839 |  |
|
| 13 |  BUSD |
Binance USD predictions | 90.8% | 1 | $0.999181 | -0.15% | -0.05% | $14 221 363 997 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 66% | 68 | $0.000026 | -7.57% | -15.60% | $14 165 186 561 |  |
|
| 15 |  MATIC |
Polygon predictions | 66% | 64 | $1.90 | -8.89% | -14.69% | $14 121 576 857 |  |
