Investors prefer Solana, Terra, Algorand and Avalanche to Ethereum and Bitcoin

One of the most popular search platforms, Coinshares, recently shared a report in which she highlighted some interesting facts about changing trends among institutional investors. The report indicates that investors are more inclined to invest in altcoins popular and rising like Advance, Solana, Terra and Algorand rather than Bitcoin or Ethereum. With the appearance of this investment trend, the widely diversified interest of inventors has emerged.

The report further indicates that investors continue to flock to their altcoin investments, with outflows limited to $7 million last week.

As shown in the graph published by CoinShares, weekly releases last week were recorded at $7.2 million. However, the full month cash outflow is $219 million, with a few days left in the month. April is therefore poised to record the highest outflows, surpassing March levels by $220 million. On the other hand, Ethereum outflows continue for the third week in a row, bringing in $16.9 million so far.

Interestingly, investments in other altcoins have increased while inflows remain high. Avalanche (AVAX), Solana (FLOOR), Terra (LUNA) and Algorand (ALGO) recorded cash inflows of $1.8 million, $0.8 million, $0.7 million and $0.2 million respectively. Conversely, bitcoin saw minor inflows of nearly $2.6 million last week, including $0.2 million for Bitcoin Shorts. Cash outflows were recorded at $178M since the beginning of April.

Therefore, with the report, it is quite clear that institutional investors are looking for other solid investment options other than Bitcoin or Ethereum. The silent trend inside a narrow range since the beginning of the month may have forced investors to look for other options.

Leave a Comment