XRP and Solana had a great weekend as they brought in the most money among altcoin-based exchange-traded products (ETPs).
According to CoinShares, on Friday, March 21, XRP pulled in $6.71 million, and Solana wasn’t far behind with $6.44 million. Other altcoins got some attention too, but not nearly as much. Polygon (MATIC) got $400,000, and Chainlink (LINK) received $200,000.
However, Ethereum (ETH) had a rough time. Investors pulled out a massive $86 million, making it the biggest loser of the week. Other cryptos like Sui (SUI) and Polkadot (DOT) lost $1.3 million, while Tron (TRX) saw $950,000 in outflows. But still, the crypto market as a whole bounced back despite the outflow, bringing in a total of $644 million after five straight weeks of losses.
A reason for this comeback is because of Bitcoin. It brought in $724 million over the week, breaking its own five-week losing streak. This was the biggest amount of funds flowing into Bitcoin since January.
Most of this came from the United States, which contributed $632 million, mainly thanks to BlackRock’s iShares Bitcoin Trust (IBIT). Other countries also saw some gains, like Switzerland ($15.9 million), Germany ($13.9 million), and Hong Kong ($1.2 million). On the other hand, Canada and Sweden lost more money than they gained.
Even though Ethereum struggled, XRP and Solana held strong. Solana is getting more attention as the U.S. gears up to launch its first Solana futures exchange-traded fund (ETF), which could lead to a spot Solana ETF in the future.
For XRP, the good news came after Ripple won a legal battle against the U.S. Securities and Exchange Commission (SEC). The SEC dropped its lawsuit against Ripple, which likely made investors feel more confident about XRP, leading to more money flowing in.
Also Read: AVAX Price Jumps 11%, Can It Hit $30 Next?
