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Şükriye Akdeniz

Nov 17, 2021

Due to the sharp declines in major cryptocurrencies, institutional investors preferred altcoins

According to the published data, institutional investors increased demand for Cardano and Ethereum instead of BTC after the sudden drop in Bitcoin prices on Tuesday. Polkadot, Solana, and Ripple are next on the list of cryptos with an increase in demand.
According to this interesting phenomenon revealed by Coinshares data, investors have a new interest in altcoins such as Cardano and Ethereum. He notes that inflows to Cardano have increased significantly this week, almost equaling Ethereum inflows, bringing the year-to-date total to $108 million.
Solana (SOL), one of the largest cryptocurrencies with a market value of approximately $ 73 billion, continues to attract interest from institutional investors, while Ripple has seen approximately $ 3.1 million in fund inflows.
In addition, the popular cryptocurrency Polkadot (DOT) received an investment of approximately $ 5.2 million. According to analysts, Polkadot can rise at any time and this rise can reach the DOT target of $ 100. DOT token is also; Popular among crypto investors for staking, bonding, and governance.

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