XRP's weekly institutional inflow far exceeds Cardano and Ethereum, is it an opportunity?

Last week, institutional investors increased their bets on XRP, but withdrew funds from ADA and Ethereum.

Specifically, XRP investors increased their holdings by $100,000, while Cardano's native token ADA outflowed $200,000 and Ethereum lost up to $28.5 million. In contrast, Litecoin and Solana performed better, with inflows of $200,000 and $3.2 million respectively.

Currently, digital asset investment products have achieved net inflows for the second consecutive week, totaling $321 million. This may be driven by the Federal Reserve FOMC's decision to cut interest rates by 50 basis points. Bitcoin became the biggest winner, with inflows of $284 million, exceeding the $76 million inflows from the beginning of this month to date. Since the beginning of this year, the total inflow of Bitcoin has reached a staggering $20.06 billion.

In terms of Bitcoin prices, its price once broke through $64,000 in the past 24 hours, rising 2.81% to a high of $64,360. Although the price subsequently fell back to $63,300, financial institutions were excited about Bitcoin's performance this week, which rose more than 11% from $57,600, and increased their investment last week.

The sharp rise in prices was driven by the announcement of a 50 basis point interest rate cut by Federal Reserve Chairman Jerome Powell at the FOMC meeting on Wednesday, rather than the market's expected 25 basis points. Experts now expect that the Fed may cut interest rates by another 75 basis points at the upcoming FOMC meeting this year.

As for Ethereum, despite its strong performance last week, with prices rising nearly 17% at one point, soaring from $2,294 to $2,677, it has now slightly corrected and is trading back at $2,464. Overall, the cryptocurrency market has responded positively to the Fed's rate cut.