Cryptocurrency funds surpassed $42 million in inflows last week, demonstrating a case of improvement in investor sentiment. The market has now reported inflows for the fifth consecutive week.
The data was highlighted in Coinshares weekly report on ‘Digital Asset Fund Flows’ for the week ending 17 September. The report noted:
“This improved sentiment could be a seasonal phenomenon, but we are not seeing a commensurate rise in volumes in investment products. This suggests that some investors are taking advantage of recent price weakness sand the continued rise in alt-coin popularity.”
Solana continued to see large inflows despite suffering a network outage for almost 20 hours, reporting an inflow of $4.8 million.
“This suggests investors were happy to shrug-off the attack, seeing it as teething problems rather than something more inherent with the network.”
In comparison, Bitcoin saw an inflow of $15 million, a newfound growth that was not seen for the past 16 weeks.
The largest altcoin Ethereum saw an inflow of $6.6 million and multi-asset investment products recorded inflows of $3.7 million.