Bitcoin is falling brutally, with major investors getting out and investing in altcoins instead. However, there is an overarching development that speaks against this, because: As CoinShares reports here, Europe's largest asset manager for digital assets, institutions are currently abandoning Bitcoin and Ethereum in droves — and investing in altcoins. ETP trading volume fell to $11.8 billion last week compared to $18 billion the previous week, while Bitcoin price fell 6%.” What's surprising here is that while many large investors are exiting Bitcoin, some altcoins are seeing inflows. CoinShares explains: “A wide range of altcoins saw inflows, with investors opting for multi-coin investment products coupled with regular favorites Solana, Litecoin, and Chainlink.” Multi-coin investment products recorded inflows of $7 million, Solana $4 million, Litecoin $3 million, and Chainlink $2.8 million. What should be taken into account here is that in order to generate attractive profits with these already large-capitalized altcoins, large investment amounts are usually necessary. The reason: The 3 altcoins mentioned have already risen by thousands of percent! Read more in our articles including "Major Cryptocurrency Investors are Now Buying Altcoins" and "Samsung launches new Galaxy foldables and smartwatches with AI upgrades, pre-order promos until August 13".
Bitcoin is falling brutally, with major investors getting out and investing in altcoins instead. However, there is an overarching development that speaks against this, because: As CoinShares reports here, Europe's largest asset manager for digital assets, institutions are currently abandoning Bitcoin and Ethereum in droves — and investing in altcoins.
ETP trading volume fell to $11.8 billion last week compared to $18 billion the previous week, while Bitcoin price fell 6%.” What's surprising here is that while many large investors are exiting Bitcoin, some altcoins are seeing inflows. CoinShares explains: “A wide range of altcoins saw inflows, with investors opting for multi-coin investment products coupled with regular favorites Solana, Litecoin, and Chainlink.” Multi-coin investment products recorded inflows of $7 million, Solana $4 million, Litecoin $3 million, and Chainlink $2.8 million. What should be taken into account here is that in order to generate attractive profits with these already large-capitalized altcoins, large investment amounts are usually necessary.
Our coverage of altcoins includes: "Major Cryptocurrency Investors are Now Buying Altcoins"; "Samsung launches new Galaxy foldables and smartwatches with AI upgrades, pre-order promos until August 13"; "ASUS ExpertBook Ultra - 5 Best Features That Make This a Serious Executive Productivity Machine". Each article provides unique insights and information.