Reportedly crypto whales & institutional investors are more inclined to flagship crypto assets, instead of top market cap asset Bitcoin, amid this initial phase of Crypto bull run.
In the present time, the Crypto market is in the initial phase of bull run. On one side we are heading toward the Bitcoin halving event, on the other side institutional money inflow in the Bitcoin market is helping the significant pump in the trade price of Bitcoin.
The current trade price of Bitcoin (BTC) is $52k & this trade price is 43% higher over the last 3 months of trade price. The main credit behind this Bitcoin pump only goes to the money inflow in the market due to institutions via Bitcoin spot ETF products, approved by the United States Securities and Exchange Commission (SEC) a month ago.
These days big Bitcoin accumulation by the institutional players via Bitcoin spot ETF products is 12 times more than the new bitcoin birth per day in the Bitcoin network. This is a very big picture to explain the level of money inflow in the Bitcoin market.
Alongside these data reports, some data showed that big players are also investing money in huge amounts in the top flagship crypto assets along with Bitcoin. These top investment crypto assets are Dogecoin, XRP, Chainlink, Avalanche, Solana, Cardano, and Shiba Inu token.
The interests of people around Solana coin surged rapidly after a statement by fund manager Franklin Templeton, a $1.5 trillion asset under management, which predicted the possibilities of Solana spot ETF products post approval of Ethereum spot ETF applications.
On the other hand, the XRP coin is already standing with full strength against the crypto-hostile environment of the US, as the court judge already ruled that XRP was not a security token, during a ruling in the Ripple vs SEC case. So retail & institutional investors are buying XRP in huge amounts blindly.
The current trade price of the Solana (Sol) coin is $115.5 & this trade price is 96% higher over the last 3 months of trade price.
On the other hand, the trade price of XRP is somewhat calm. The current trade price of XRP coin is $0.54 & this trade price is -11% down over the last 3 months.
Read also: Cardano (ADA) founder says Legacy is eating Crypto’s principles
Data shows institutional players are buying XRP, and Sol in huge amounts
https://bitcoinik.com/data-shows-institutional-players-are-buying-xrp-and-sol-in-huge-amounts/feed/
https://bitcoinik.com/data-shows-institutional-players-are-buying-xrp-and-sol-in-huge-amounts/feed/
