In the last week of September, a total of 10 million dollars entered the crypto money market. This low amount of entry shows that fears among investors still persist. However, the data of the last week reveals that institutional investors exited 3 altcoin projects and entered 2 altcoins.
Institutional investors are getting into these altcoin projects
The cryptocurrency market saw $10.3 million in inflows last week. Thus, the latest fund flows pointed to the ongoing fear of institutional investors. The biggest entry was in Bitcoin, the leading cryptocurrency, as it usually happens. Accordingly, Bitcoin (BTC) saw an inflow of $ 7.7 million last week.
BTC was followed by the leading altcoin project Ethereum (ETH). Ether received an investment of $ 5.6 million in the last week of September. Short Bitcoin took the third place. Bitcoin Short positions hit $2.1 million.
They sold on these altcoin projects
However, there were no other entities receiving entries in the top 10 tables. Solana saw 0.4 million, XRP 0.3 million, Cardano 0.5. However, the biggest loss occurred in other altcoin projects. Altcoins other than the biggest saw $3.2 million in sales last week. Multi-asset investment products, on the other hand, were the second asset class with the most losses, with an outflow of $0.7 million.
There were also exits in Short Ethereum. This asset class saw $0.9 million outflow. Other big players such as Binance Coin, Litecoin and Tron did not change in the last week of September. As a result, altcoin assets had an extremely negative week with a total outflow of $3.5 million. According to institutional investors, the fund flow was as follows:
Total trading volume drops to October 2020 levels
Meanwhile, the relatively low entry in the last week has revealed an uncommon situation in the cryptocurrency market. Accordingly, the fund flows of institutional investors totaled 886 million dollars in the last week of September. As we reported as Kriptokoin.com, investment product trading volumes of this value were last seen in October 2020.
Purchases outweighed in only two countries
According to last week’s data, altcoin purchases outweighed in only two countries. These countries were Sweden and the USA. Sweden was the leader in Europe with $16.4 million in entries. Germany witnessed $9.1 million in sales, while France saw a relatively insignificant outflow of 0.1 percent. However, Canada and Brazil also witnessed similar exits. However, the United States behaved differently from other continental countries with an inflow of $7.7 million.
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