News - Institutional investors buy Ripple (XRP), Cardano (ADA) and Solana (SOL)

By Mike Hesp

Institutional investors buy Ripple (XRP), Cardano (ADA) and Solana (SOL)

Ripple (XRP)
Cardano (ADA)
Solana (SOL)

Bitcoin and Ether are taking a breather, while some altcoins are making inroads. Cardano (ADA), Ripple (XRP) and Solana (SOL) are among the winners.

According to a report from CoinShares institutional investors are again investing more in altcoins such as Ripple (XRP), Cardano (ADA) and Solana (SOL).

Altcoins (minus Ethereum) saw total inflows of US$3 million last week, up from about US$19 million in the previous eight weeks.

Still, the trading volume of US$915 million is relatively low. The weekly average is still at US$1.5 billion.

Despite increasing interest from institutional investors, there was an outflow of a total of US$21 million last week, the report said.

CoinShares, however, said Bitcoin was responsible for more than 90 percent of the outflows. The cryptocurrency was trading at US$28,964 at press time, down about five percent from a month ago.

By the SEC defeat in lawsuit against Ripple altcoins have benefited tremendously. The prices of SOL, ADA at XRP exploded.

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