Avalanche (AVAX) Attracts Huge Inflows From Institutional Investors

Avalanche (AVAX) Attracts Huge Inflows From Institutional Investors
  • BTC has accounted for more than 80% of weekly digital asset fund flows.
  • Avalanche received $25 million in inflows last week.

After a dip in interest in January, institutional investors have returned to crypto investment products. Since the recent surge in weekly inflows of Bitcoin, other cryptocurrencies have also gained interest. They include Avalanche (AVAX). As of late, Avalanche has joined the top ten global digital currency rankings. The current value of the crypto asset is in the neighborhood of $17 billion. With AVAX’s recent value increase, huge institutional inflows have been attracted.

Inflows Totalled 101M

CoinShares’ weekly analysis on digital asset fund flows indicates that Avalanche received $25 million in inflows last week. Inflows of $9.4 million and $1.2 million, respectively, were generated via multi-asset and Solana investment products.

CoinShares mentioned in its weekly digital asset report:

“Digital asset investment products saw inflows totaling US$109m last week despite recent price weakness and perceived negative impact from the looming conflict in Eastern Europe. Following the run of outflows in January, the latest data marks the 5th week of inflows. While inflows were seen in both Europe and the Americas, it was predominantly the latter with inflows totaling US$101m.” 

BTC has accounted for more than 80% of weekly digital asset fund flows. Last week, the cryptocurrency witnessed inflows of $89 million, the most since December 2021. BTC has had one of its worst market declines in the recent two months. According to CoinMarketCap, the Bitcoin price today is $37,194.53 USD with a 24-hour trading volume of $33,177,120,253 USD. Bitcoin is down 4.81% in the last 24 hours.

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