Bitcoin
BTC$70 446.49

0.19%

Ethereum
ETH$3 571.68

0.09%

Tether
USDT$0.999976

0.04%

Binance Coin
BNB$607.91

3.41%

Solana
SOL$186.46

0.03%

XRP
XRP$0.618435

-0.41%

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 75.6% 43 $70 446.49 0.19% 6.13% $1 385 491 335 140 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72% 50 $3 571.68 0.09% 1.26% $428 853 757 674 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999976 0.04% 0.01% $104 501 794 862 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 60% 81 $607.91 3.41% 4.09% $90 904 311 685 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 56.8% 88 $186.46 0.03% 3.47% $82 864 295 628 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 83.6% 28 $0.618435 -0.41% -1.96% $33 942 350 043 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999844 -0.02% -0.01% $32 486 085 137 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 66 $0.216926 8.05% 32.96% $31 164 215 716 DOGE 7 days price change
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10 Avalanche (AVAX) AVAX Avalanche predictions 60.8% 87 $53.97 -1.04% -3.36% $20 368 345 205 AVAX 7 days price change
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13 Polkadot (DOT) DOT Polkadot predictions 74.4% 49 $9.53 0.20% 2.19% $13 598 473 913 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 72.4% 58 $580.98 5.83% 39.75% $11 434 923 597 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 76% 42 $19.06 -2.15% 3.17% $11 187 650 311 LINK 7 days price change

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