Bitcoin
BTC$38 967.91

-7.44%

Ethereum
ETH$2 871.05

-8.60%

Tether
USDT$1.000160

-0.01%

Binance Coin
BNB$428.81

-7.90%

USD Coin
USDC$1.000296

-0.04%

Cardano
ADA$1.23

-8.69%

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

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