A new report from analytics firm Coinshares shows that while the market dip may not have ended, prices are now at levels where stock market investors are once again showing signs of interest in digital asset funds.
A report published yesterday from Coinshares shows that multiple funds have begun seeing net inflows after weeks of record outflows in the wake of a crippling, market-wide crypto dip. In totally, legacy markets poured in $74 million into crypto investment vehicles, though not all products showed signs of strength.
Cryptocurrencies show inflows after record outflows in previous two weeks.
— unfolded. (@cryptounfolded) June 2, 2021
While some analysts are calling for Bitcoin as low as $16,000 per BTC, Bitcoin products were among the weakest performers, with $4 million in net outflows. The report notes that altcoins — particularly more environmentally friendly proof-of-stake altcoins — were strong performers, with Cardano, Ripple, and Polkadot funds each seeing