Institutional Investors Bet sentiment favours Cardano ($ADA) and Solana ($SOL) the most

After six weeks of outflows, digital asset investment products witnessed $21 million in net inflows. According to a recent CoinShares research, warmed-up investor mood supports Cardano (ADA) and Solana (SOL) the most.

Following a six-week run of outflows, the digital asset investing firm just released a report for the week ending August 20 that showed initial inflows of $21 million.

The largest weekly inflows were observed in Solana.

“Positive price action in recent weeks has pushed total assets under management (AuM) to $57,3 billion, the highest level since mid-May,” according to the report, which also noted that “flows across product providers remained mixed, with some continuing to post outflows for the week while others in both North America and Europe posted inflows.”

While Bitcoin (BTC) saw outflows of $2.8 million for the eighth week in a row, Ethereum (ETH) saw slight inflows of $3.2 million last week, with other altcoins such as Solana, Cardano, Litecoin (LTC), and Polkadot (DOT) also seeing millions come in.

Last week, Solana had the most inflows, totaling $7.1 million, followed by Cardano, another Ethereum competitor, which received $6.4 million.

Litecoin and Polkadot, on the other hand, experienced inflows of $1,8 million and $1,1 million, respectively. Last week, Solana rebounded to an all-time high of $81.44 on August 21.

The single-chain, delegated-Proof-of-Stake protocol, sometimes known as "high-performance" blockchain, has lately gained in popularity and recognition.

The greatest monthly inflows were seen in Cardano.

On a month-to-date (MTD) basis, Charles Hoskinson's Cardano attracted the most inflows of any cryptocurrency, according to the research.

Cardano's strong performance follows announcements of the network's significant upgrade rollout, which will usher in smart contract capability and allow for the launch of a slew of dapps.

Cardano outperformed Solana and Ethereum in a 30-day period ending August 20, receiving $8.6 million in inflows compared to $7.1 million and 5.1 million inflows, respectively.

Cardano has risen 129.9% in the last 30 days, approaching the $3 level, after hitting an all-time high of $2.96 on August 23.


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