The previous week's drop in altcoin prices has had an interesting effect on investor behavior as investors seize the opportunity to add to their positions.
These Altcoins Are Preferred After The Recent Price Drop
As a result, $2.4 million was introduced into digital asset investment products. Among altcoins, XRP, Cardano, and Polygon were the investments that attracted the most attention, with inflows of $1 million, $600,000, and $200,000, respectively.
It seems that investors saw the price drop as a buying opportunity and took advantage of it.
On the other hand, Ethereum experienced the biggest breakout of the week with $5 million. This can be attributed to profit making or a change in investor sentiment.
In addition, Tron and Avalanche also experienced smaller outflows, with $400,000 in assets.
Looking at regional trends, the United States and Germany witnessed small inflows of US$3.7 million and US$2.4 million, respectively.
These modest entries show that some investors remain optimistic about the market despite the recent crash. On the other hand, there was an outflow of US$ 277 million in Canada, which indicates that investors in the region are taking a more cautious approach.
In summary, the drop in altcoin prices created an opportunity for investors to add to their positions, resulting in modest entries. XRP, Cardano, and Polygon were the focus of these entries.
However, while Ethereum has had its downfalls, blockchain stocks have seen significant ups and downs. Regional trends highlighted the small inflows in the US and Germany, while there were exits in Canada.
Despite regulatory improvements, Hong Kong has yet to achieve significant entry into ETPs.
*Not investment advice.