The crypto exchange CoinShares has named this Ethereum alternative the “Most Loved Altcoin”


According to CoinShares, digital asset management, one leading alternative to Ethereum (ETH) has been more highly valued than any other cryptocurrency so far.

While the general digital asset markets witnessed slight withdrawals last week, Solana (SOL) had modest inflows for the ninth week running, according to CoinShares’ latest Digital Asset Fund Flows Weekly Report.

While Solana witnessed inflows of US$0.7m for the ninth week running, its YTD (year-to-date) inflows of US$26m imply it is the most liked cryptocurrency among investors right now.

Meanwhile, CoinShares reports that over $11 million was withdrawn from the digital asset markets as a whole.

With a total of $11.2 million, outflows from investment products related to digital assets have slowed. This streak of bad luck over the last seven weeks is now worth a whopping $342 million. There has been a net inflow of US$165m into digital asset investment products so far this year, despite the fact that investor flows have been very volatile due to uncertainty about how digital assets will be regulated.

Last week, investors pulled $4 million from Bitcoin (BTC) investment goods, $8.6 million from Polygon (MATIC), and $3.2 million from Ethereum (ETH) investment products.

CoinShares reports higher trade volumes even as it experiences slight withdrawals. “in spite of little activity on moves, volume of trade was much higher than average,” the Wall Street Journal said, “totaling US$2.8bn for the week, 90% over the YTD average.”

Also Read: The market cap of TrueUSD (TUSD) has increased to $3.4B, surpassing that of Binance USD (BNB)

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