Institutional investors had been showing bearish sentiment towards Ethereum for the longest time. The second-largest cryptocurrency by market cap, which had initially caught their attention, was not doing as well as expected, and the outflows that followed were massive. However, it looks like sentiment among these large investors is beginning to turn positive as Ethereum has begun to record inflows.
Ethereum Inflows Balloons
Over the last several weeks, Ethereum inflows have been ramping up. Although they were nowhere near the volumes that had been recorded during the bull market, it had put a stop to more than 2 months of consecutive outflows for the digital asset.
Last week would prove to be no different, given that Ethereum’s inflows had come out to $8 million, a