Financial Investors Are Investing In SOL, DOT & ADA Amidst China Fud
According to reports, the crypto of institutional fund management companies has about $95.2 million in cash flow as of September 24th, with investors looking at recent regulatory challenges in the sector as buying opportunities, data from digital asset manager CoinShare showed Monday.
With all the impactful news coming from the Chinese region regarding the crypto ban and activities against cryptocurrencies and thus creating financial fear in small investors, while at the same time the huge financial firms are taking these lows as their opportunity to stake their fund in the market.
On September 27, CoinShares reported cash flows from institutional investors. According to CoinShares, it has a total inflow of $ 95 million. The cash flow only took place from September 20 to September 24, which is a clear indication of how big investors are playing in this market dip.
There has been a substantial increase of 126% in the crypto-related digital investment from these large investment firms lately.
Bitcoin has seen the highest total of $50 million in any investment product, however, has faced negative investor sentiment over the past two quarters. Last week was the 17th to 4th week. Ethereum followed Bitcoin with $29 million inflows last week. Ethereum continues to be relatively excited about the progress of Eth 2.0.
While investing in digital assets in terms of institutional investment, Bitcoin is still the favorite cryptocurrency for global investors but at the moment these firms are also looking for more alternative digital assets like Polkadot(DOT), Cardano(ADA), Solana(SOL).
With the current market situation, such coins have gained attention from big investors and have been a major buy during the market dumps.
With a surprising amount of total money inflow with $3.9 million in Solana (SOL), $2.6 million in Cardano (ADA), and $2.4 million in Polkadot (DOT) respectively these coins have been the top alternative choices for the institutional investor.
While in an overall scenario China Fud is adversely affecting the crypto market. On September 24, the price of Bitcoin fell by almost 8%. But instead of panicking, big investors are taking advantage of many sources.