As Bitcoin and Ethereum take a breather, institutional money is shifting to Cardano and Stellar: CoinShares

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According to digital asset investment business CoinShares, emerging blockchain platform Cardano (ADA) and open-source blockchain payment network Stellar Lumens (XLM) are attracting the interest of institutional investors.

CoinShares revealed in a recent study on the digital asset markets that, although many assets are losing institutional money, ADA and XLM are seeing positive inflows from large investors.

According to the company, Cardano saw $1.7 million in inflows during the last week, while XLM received $1 million.

Cardano’s USD price is stable on the week, down 1.5% over the past seven days. XLM is also in red territory, falling over 7% on the week at time of writing.

In the same week, Ethereum witnessed a total outflow of $12.7 million, while Bitcoin saw a total outflow of $10 million, according to CoinShares. ADA and XLM funds are up, despite a $21 million outflow from the overall digital asset investment product suite.

Most crypto funds are in the black for the month, with the exception of Bitcoin, which has experienced $156.8 million in withdrawals.

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Source: CoinShares

As institutional money appears to be fleeing the market, the entire crypto sector is down 4% on the day, according to CoinGecko, with a $1.52 trillion valuation.

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