Skip to content Skip to sidebar Skip to footer

Crypto faces outflows for the sixth week in a row, while XRP and SOL are gaining investor trust

According to a CoinShares analysis on crypto market activity, XRP and Solana are more popular with traders.

For the week ending September 24, cryptocurrency investment products experienced their sixth straight week of outflows. Data from CoinShares shows that last week, digital asset outflows from crypto investment products totaled $9 million.

However, other currencies like XRP XRP

counts down


both Solana


counts down


both had inflows of $0.31 million and $0.66 million. According to the research, ongoing investment into XRP and SOL indicates that investors are growing increasingly interested in the altcoin market.

Based on regional activity, the survey found a difference in traders’ attitudes between Europe and the United States. $16 million went into European cryptocurrency investment packages, whereas $14 million went out of American-based companies.

The lack of clarity surrounding cryptocurrency legislation and recent measures taken by the U.S. Securities and Exchange Commission (SEC) against crypto businesses were blamed for the regional discrepancy.

According to the analysis, weekly trading volumes have fallen to $820 million, well below the projected average of $1.16 billion in 2023.

Be the first to know

Get the best of all crypto news updates coming from Nigeria, Kenya, SA, Ghana, and across Africa

Show CommentsClose Comments

Leave a comment