Ethereum attracts investments in his ETF while Bitcoin suffers outings

Ethher (ETH), Ethereum’s native cryptocurrency, again captured the attention of institutional investors and left behind a two -day run in red. Meanwhile, Bitcoin -based financial products (BTC) fail to recover and continue to register money outputs.

Yesterday, August 5, ETH -stock exchange funds (ETF) in the United States captured 73 million dollars.

Since its launch to the market, These financial instruments accumulate more than 9,100 million dollars.

Inputs and outputs in the funds quoted in Ether's stock market.Inputs and outputs in the funds quoted in Ether's stock market.
Inputs and outputs in the funds quoted in Ether’s stock market. Source: Sosovalue.

In contrast, Bitcoin ETFs fail to reverse the negative trend And they reported outings for 196 million dollars, which already add four consecutive days of losses, something that did not happen since the first week of April.

It should be noted that from their market debut, these funds accumulate more than 56.6 billion dollars.

Inputs and outputs in the funds quoted in the Bitcoin Stock Exchange.Inputs and outputs in the funds quoted in the Bitcoin Stock Exchange.
BTC ETFs accumulate 4 days in red. Source: Sosovalue.

The good performance that ETHher’s ETFs are having is due, to a large extent, to investors believe that this asset has more power of appreciation in this market cycle. This may also be related to that There are indications of an Altseason in trainingas Cryptonoticia reported.

Currently, the market is going through a capital rotation cycle that begins with a strong impulse in BTC, taking its price to new historical maximums.

Once BTC is stabilized at high levels, it is when money flows to the Ethereum currency and subsequently towards lower capitalization projects.

For this dynamic to be maintained, it will be essential that they improve Macroeconomic conditions globally, which will arouse a greater appetite for risk.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *