Institutions remain bullish on Cardano and Ether while BTC outflows persist
Ethereum(ETH) and Cardano(ADA) continue to dominate inflows to institutional crypto investment products while demand for BTC weakens. Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin. Ether was the favoured asset among institutional investors, with ETH-based products posting a weekly inflow of $17.2 million.
BTC Bulls Show Utmost Resilience Above $46,000 While Eyeing Liftoff To $50,000
Bitcoin(BTC) has remained lethargic in its trading since last week. The rejection from $50,548 left investors dejected because their expectation was for BTC to climb past $55,000 and close August near $60,000. Meanwhile, Bitcoin is teetering marginally above $46,000. The homestretch to $50,000 seems near yet challenging to achieve, especially with multiple short-term sell signals.
Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed
Solana (SOL) prices rose on Monday as traders speculated on what appeared to be a key but mysterious feature launch scheduled for later this week. The SOL/USD exchange rate climbed to a new record high of $103.06 following a 9.35% intraday rally. The upside move surfaced days after Solana introduced “Ignition” on its official media handles.
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