Cardano (ADA), Solana (SOL) increasingly see institutional bets

Warmed investor sentiment favors Cardano (THERE ARE) and Solana (GROUND) the most, revealed the recent CoinShares report.

The digital asset investment firm recently released a report for the week ending August 20, which saw the first inflows totaling $ 21 million, after a string of six-week outings.

Solana recorded the strongest weekly collections

“Positive price action over the past few weeks has now pushed total assets under management (AuM) to $ 57.3 billion, the highest since mid-May,” the report reads, while stating that “flows between product suppliers have remained mixed, with some continuing to post releases for the week while others in North America and Europe have posted entries.

While Bitcoin (BTC) had its seventh consecutive week of releases totaling $ 2.8 million, Ethereum (ETH) recorded minor entries totaling $ 3.2 million last week as other altcoins including Solana, Cardano, Litecoin (SLD) and Polkadot (POINT) also recorded millions of influxes.

Solana saw the biggest influx last week, totaling $ 7.1 million, followed by another Ethereum competitor, Cardano, which drew in $ 6.4 million.

At the same time, Litecoin and Polkadot registered $ 1.8 million and $ 1.1 million entries respectively. Solana rallied last week and finally hit its all-time high of $ 81.44 on August 21.

The single chain, Delegate-Proof-of-Stake protocol, which has come to be known as the “high performance” blockchain, has known growth notoriety and popularity recently.

Cardano recorded the highest monthly inflows

According to the report, Charles Hoskinson’s Cardano saw the biggest inflows of any crypto on a monthly basis (MTD).

Cardano’s recent performance follows the announcements of the main players in the network to improve deployment which will inaugurate the smart contract functionality and allow the deployment of many apps.

With a record of $ 8.6 million in entries in a 30-day period ending August 20, Cardano topped Solana and Ethereum, which registered $ 7.1 million and $ 5.1 million respectively. .

Cardano has rebounded 129.9% in the past 30 days and approached the $ 3 mark as it hit an all-time high of $ 2.96 on August 23.

Like what you see? Subscribe for updates.