• CoinShares’ 3 April report showed that XRP had the most inflow out of all the altcoins, registering $800,000 in fund flow activity.
• Ethereum’s [ETH] case was again uneventful with outflows from the altcoin peaking at $2.8 million and inflows into short-term products being only $500,000.
• Bitcoin’s asset under management reached a yearly high of US$23.5bn due to its price appreciation over the week.
XRP Records Most Inflow Out of All Altcoins
Embattled payment token XRP had the most inflow out of all the altcoins as per CoinShares‘ 3 April report. ETH’s neglect continued and BTC fell as well. As one of the top digital currencies in the market, Ripple’s [XRP] recent surge in popularity and performance has caught the attention of investors and traders alike.
Fund Flow Activity
Investment products‘ overall inflow was only $2.5 million as trading volume decreased by 33% on a week-on-week assessment which indicated lack of interest in adding liquidity to crypto-linked assets. However, XRP registered an impressive inflow amounting to $800,000 while other altcoins including Polygon [MATIC] and Binance Coin [BNB] recorded inflows worth $300,000, and $340,000 respectively.
Bullish Sentiment for XRP
The rise of XRP amidst this situation is not surprising given its 30-day performance remains at a 32% hike with it rising above BTC within the same period. This has caused bullish sentiment towards the token amongst investors and traders alike..
Ethereum Constraints Continue
Ethereum’s [ETH] case was again uneventful with outflows from the altcoin peaking at $2.8 million while inflows into short-term products were only $500,000.. This suggests caution amongst investors due to upcoming staking withdrawal opportunities post Shanghai upgrade which may lead to possible selling pressure once validators put their assets back to work..
How Much Are 1,10,100 XRPs Worth Today?
At press time (at time of writing), XRP had lost 3.24% of its value over 24 hours according to CoinMarketCap’s data despite its bullish sentiment among investors over past few weeks
