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Institutional investors buy Ripple (XRP), Cardano (ADA) and Solana (SOL)

Bitcoin and Ether are taking a breather, while some altcoins are making inroads.

By Mike Hesp
• 2 min read
Institutional investors buy Ripple (XRP), Cardano (ADA) and Solana (SOL)

Bitcoin and Ether are taking a breather, while some altcoins are making inroads. Cardano (ADA), Ripple (XRP) and Solana (SOL) are among the winners.

According to a report from CoinShares institutional investors are again investing more in altcoins such as Ripple (XRP), Cardano (ADA) and Solana (SOL).

Altcoins (minus Ethereum) saw total inflows of US$3 million last week, up from about US$19 million in the previous eight weeks.

Still, the trading volume of US$915 million is relatively low. The weekly average is still at US$1.5 billion.

Despite increasing interest from institutional investors, there was an outflow of a total of US$21 million last week, the report said.

CoinShares, however, said Bitcoin was responsible for more than 90 percent of the outflows. The cryptocurrency was trading at US$28,964 at press time, down about five percent from a month ago.

By the SEC defeat in lawsuit against Ripple altcoins have benefited tremendously. The prices of SOL, ADA at XRP exploded.

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