XRP Wins Top Spot Among Altcoins for Funds Inflow

XRP Wins Top Spot Among Altcoins for Funds Inflow

According to the most recent weekly report from CoinShares, XRP had the most money come into it last week of all the altcoins. During the period under review, $800,000 came into XRP-focused investment products. Even though that was a third less than a week before, it still puts XRP ahead of all cryptocurrencies except Bitcoin (BTC).

There is now $53 million worth of assets being managed in these products. Since the beginning of the year, an average of $3 million has been put into XRP-related investment products, thanks to the new money. Compared to the same amount of BTC, this is $92 million more and $21 million more than Ethereum (ETH).

Ethereum (ETH) Concerns Investors

More money is leaving than coming into the two largest cryptocurrencies on the market. James Butterfield, an analyst at CoinShares, says that investors are warier of ETH than BTC, even though investors are generally optimistic about BTC, and the last few weeks have been good.

He thinks this is because of a change called Shapella that will be made to the Ethereum network soon. Everyone should be able to withdraw their ETH from staking after the update, as you know. This will likely make more tokens available on the market, which will pressure the price.

But not everyone agrees with this point of view. Chris Burniske, a former analyst at ARK Invest, thinks that Shapella is suitable for Ethereum.

XRP Wins Top Spot Among Altcoins for Funds Inflows
XRP Wins Top Spot Among Altcoins for Funds Inflows

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