Why did Whale sell SOL and ETH to buy these altcoins when the market declined?
Coinshares has published its weekly cryptocurrency report.
They reported an inflow of $2.9 billion into crypto investment products last week, with Coinshares saying the inflow continues and another record has been broken.
When looking at each cryptocurrency fund individually, it is seen that the majority of inflows are in Bitcoin.
BTC experienced inflows of $2.89 billion, accounting for more than 95% of total inflows, while the largest altcoin, Ethereum (ETH), saw outflows of $13.9 million.
In the Bitcoin Short fund, indexed to BTC declines, inflows increased over the previous week, reaching $26.1 million.
Looking at other altcoins, Litecoin (LTC) had inflows of $2.3 million, Polkadot (DOT) $3.1 million, and Cardano (ADA) $1.2 million; Solana (SOL) underwent a $2.7 million capital drawdown.
When looking at regional fund inflows and outflows, it is found that the United States tops with inflows of $2.95 billion.
After the US, Brazil ranked second with $23.7 million.
Switzerland pulled out $32.6 million; Sweden outflowed 21.2 million USD; Canada saw capital outflows of $14.9 million.
