A report published by CoinShares has revealed that XRP has outperformed several other top altcoins in terms of institutional inflows. Among six large-cap coin, XRP has scored the largest inflows in the past week.
Still, as could be expected, the Bitcoin and Ethereum giants have left XRP in dust.
XRP outsizes ADA, LTC, SOL by inflows
CoinShares’ report revealed that over the past seven days XRP-based products have absorbed a massive $31.6 million inflows from institutional investors. Monthly inflows amount to $70.7 million, while year-to-date ones constitute a massive $246 million. This sum left its crypto rivals far behind.
Meanwhile, Litecoin, Pyth, and Cardano products have seen zero inflows. LTC lost $0.3 million month-to-date. Sui is lagging behind XRP with $20.7 million that came in last week and a total of $72 million YTD. Over the past month, this coin has welcomed $14.7 million.
As for Solana, last week and month it faced outflows of $5.7 million and $13.9 million, respectively.
The largest inflows went into Bitcoin and Ethereum – $3.188 billion and $183 million, correspondingly. Today, the fourth-largest cryptocurrency, XRP, demonstrated a price spike of 4.26%, soaring from $2.23. As of this publication, XRP is changing hands at $2.33 per token.
This also marks an impressive 7.77% price increase since Sunday, when XRP traded at $2.16.
Related
Bitcoin ETFs scoop up $3.06 billion in one week
The most of the aforesaid billions of dollars flowed into spot Bitcoin exchange-traded funds last week, according to the data provided by additional sources. Analytics account on the X social media platform Lookonchain shows that in total those ETF received 29,321 BTC, totalling slightly under $3 billion.
However, data shared by Chinese cryptocurrency journalist and blogger Colin Wu named a slightly higher amount – $3.06 billion. Wu calls this the second-biggest weekly inflow since ETF launch in January 2024.
Today, on Monday, April 28, the world’s leading cryptocurrency, Bitcoin, has displayed a significant price surge of 2.34%, rising from $92,980 to the $95,250 level where it is changing hands at the time of writing this article.
Thus, Bitcoin has reclaimed the price mark lost on Friday due to a 2.64% decline.
