Institutional investors are leaving XRP, Cardano, DOT and Bitcoin and returning to a smart contract giant, according to a new CoinShares survey.
Institutions delist XRP, Cardano and DOT
Results of a fund manager survey released by CoinShares show institutional investors from volume giants such as Cardano (ADA), Polkadot (DOT), Bitcoin (BTC) shows that it is moving away and heading towards Ethereum (ETH). Price fluctuations in the first two months of the year are responsible for this behavior, according to the report:
The price fluctuations in January and February this year have caused investor perceptions to shift in favor of large capitals such as Bitcoin and Ethereum at the expense of smaller larger ones such as Polkadot, Cardano and XRP. opened.
Sentiment is improving among Ethereum competitors, including Solana (SOL), Avalanche (AVAX), Cosmos (ATOM) and Terra (LUNA), according to CoinShares survey:
Sentiment towards Solana has improved, but so have ‘other’ cryptocurrencies, notably Avalanche, Cosmos and Luna.
Investors prefer cryptocurrencies
In addition to diversifying their portfolios, investors are increasingly placing their money in cryptocurrencies as anticipation for the new asset class grows:
Investors are seeking diversification reasons is increasingly accumulating shares in cryptocurrencies.
Although the cryptocurrency market has been on a downtrend since December 2021, speculation remains a major driver of cryptocurrency investment as a growing number of investors view crypto as excellent value. continues. According to the CoinShares survey, which we quoted as Kriptokoin.com, the biggest risk for investors is the government restriction on cryptocurrencies. At the time of the survey, the Mica bill was on the agenda of the cryptocurrency market:
This survey was conducted in March 2022, when fears over a Proof of Work (PoW) ban were at an all-time high following a vote in the European Union parliament. Executive action from President Biden was also expected. As a result, a political ban and a government ban rose to the top of the list of major threats. Eventually, a PoW ban did not go into effect, and the presidential order prompted several ministries to do more research on digital assets.
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