Gone is the carnage of last week’s “Black Monday,” when the crypto market seemed to be in trouble. Indicators, previously in the red, have gradually turned green, giving way to a wind of optimism. This gradual transformation has spread to the entire market, with Ethereum and Solana leading the way, attracting notable investment flows.
Investments in Ethereum and Solana are making a strong comeback
Despite a price correction that shook most cryptocurrencies, Ethereum and Solana have managed to hold their own. Last week, these two giants of the crypto world recorded impressive net inflowsas confirmed in our article “Investors Bet Big on Ethereum Despite Brutal Market Correction.”
According to the CoinShares Weekly Reportinvestment products linked to these digital assets have attracted a total of 176 million dollarssign ofcontinued interest from institutional investors.
What is particularly remarkable is that These flows have been observed in all regions of the globean undeniable sign of renewed confidence in the long-term potential of these cryptos.
The main incoming flows include:
- $155 million to Ethereum;
- $18.3 million towards multi-asset products;
- $4.5 million to Solana.
As the report highlights:
” Ethereum benefited the most from the recent market correction, attracting $155 million in inflows last week. »
Has the bear left the crypto market?
The recent crypto market correction has been seen by many as a buying opportunity. Last week's uptrend highlighted a notable change in investor preferenceswith Ethereum leading the way.
Indeed, Ethereum-based investment products captured the majority of flows, representing 88% of the total.
Since the beginning of the year, Ethereum ETP inflows hit multi-year high of $862 milliontheir highest level since the 2021 bubble. Even though Bitcoin managed to attract $13 million at the end of the week, the star remains Ethereum.
As for Short-Bitcoin ETPs, they saw their largest outflows since May 2023, with a withdrawal of 16 million dollarsrepresenting 23% of assets under management.
A clear signal that the bearish trend is losing ground in favor of an optimistic recovery in the crypto market.
In just one day after “Black Monday,” altcoins have emerged from the shadows, rekindling hopes of a long-awaited recovery among investors.
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