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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 83.6% | 24 | $48 023.28 | -0.71% | 3.44% | $903 705 648 774 | $30 868 405 829 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 71.6% | 52 | $3 563.80 | -1.89% | 4.12% | $418 950 530 113 | $18 493 669 977 | |
| 3 |  ADA |
Cardano predictions | 66% | 64 | $2.42 | -2.23% | -3.43% | $77 683 489 177 | $3 095 901 217 | |
| 4 |  BNB |
Binance Coin predictions | 68.4% | 70 | $421.22 | -2.55% | -0.83% | $70 821 892 729 | $1 657 577 581 | |
| 5 |  USDT |
Tether predictions | 96% | 1 | $1.000499 | 0.02% | 0.05% | $68 288 037 795 | $74 172 515 331 | |
| 6 |  XRP |
XRP predictions | 71.2% | 56 | $1.093567 | -2.51% | -3.05% | $50 984 520 461 | $3 018 193 479 | |
| 7 |  SOL |
Solana predictions | 57.2% | 89 | $146.88 | -7.34% | -21.00% | $43 597 219 268 | $3 263 512 936 | |
| 8 |  DOT |
Polkadot predictions | 63.2% | 83 | $36.36 | 1.92% | 15.42% | $35 909 826 746 | $2 318 625 572 | |
| 9 |  DOGE |
Dogecoin predictions | 66.4% | 65 | $0.254974 | 3.69% | 0.76% | $33 480 789 211 | $1 873 594 606 | |
| 10 |  USDC |
USD Coin predictions | 94.8% | 1 | $1.000186 | 0.02% | 0.01% | $29 230 519 112 | $2 845 039 489 | |
| 11 |  UNI |
UniSwap predictions | 68.8% | 56 | $25.82 | -4.67% | 9.72% | $15 791 177 382 | $595 594 004 | |
| 12 |  LUNA |
Terra predictions | 68% | 67 | $36.20 | -0.80% | 12.70% | $14 549 248 511 | $1 555 371 086 | |
| 13 |  AVAX |
Avalanche predictions | 69.2% | 69 | $64.76 | 6.83% | 48.17% | $14 265 392 957 | $2 603 032 868 | |
| 14 |  LINK |
Chainlink predictions | 74% | 56 | $29.85 | -5.29% | 4.13% | $13 491 251 604 | $1 523 058 445 | |
| 15 |  BUSD |
Binance USD predictions | 96% | 1 | $1.000197 | 0.01% | 0.02% | $12 747 342 580 | $6 385 206 639 |
