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.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 75.6% | 43 | $70 446.49 | 0.19% | 6.13% | $1 385 491 335 140 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 72% | 50 | $3 571.68 | 0.09% | 1.26% | $428 853 757 674 | ||
3 | USDT | Tether predictions | 96% | 1 | $0.999976 | 0.04% | 0.01% | $104 501 794 862 | ||
4 | BNB | Binance Coin predictions | 60% | 81 | $607.91 | 3.41% | 4.09% | $90 904 311 685 | ||
5 | SOL | Solana predictions | 56.8% | 88 | $186.46 | 0.03% | 3.47% | $82 864 295 628 | ||
6 | XRP | XRP predictions | 83.6% | 28 | $0.618435 | -0.41% | -1.96% | $33 942 350 043 | ||
7 | USDC | USD Coin predictions | 92.8% | 2 | $0.999844 | -0.02% | -0.01% | $32 486 085 137 | ||
8 | DOGE | Dogecoin predictions | 66% | 66 | $0.216926 | 8.05% | 32.96% | $31 164 215 716 | ||
9 | ADA | Cardano predictions | 67.2% | 66 | $0.646149 | -0.10% | 1.01% | $22 992 326 392 | ||
10 | AVAX | Avalanche predictions | 60.8% | 87 | $53.97 | -1.04% | -3.36% | $20 368 345 205 | ||
11 | SHIB | SHIBA INU predictions | 55.2% | 94 | $0.000031 | 1.20% | 10.29% | $18 332 591 321 | ||
12 | TON | Toncoin predictions | 56.4% | 87 | $4.87 | -0.27% | 10.84% | $16 900 246 295 | ||
13 | DOT | Polkadot predictions | 74.4% | 49 | $9.53 | 0.20% | 2.19% | $13 598 473 913 | ||
14 | BCH | Bitcoin Cash predictions | 72.4% | 58 | $580.98 | 5.83% | 39.75% | $11 434 923 597 | ||
15 | LINK | Chainlink predictions | 76% | 42 | $19.06 | -2.15% | 3.17% | $11 187 650 311 |
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