Data shows that institutional players are purchasing XRP and Sol in huge quantities.
Crypto whales and institutional investors are reportedly more interested in the flagship cryptocurrency asset in the early stages of the cryptocurrency bull market, rather than Bitcoin, the highest market capitalization asset.
Currently, the cryptocurrency market is in the early stages of a bull market. On one hand, we are heading towards the Bitcoin halving event, and on the other hand, the influx of institutional funds into the Bitcoin market is helping to drive a significant increase in Bitcoin trading prices.
The current trading price of Bitcoin (BTC) is $52,000, which is 43% higher than the last three months. A major contributor to this Bitcoin pump has been the influx of funds into the market from institutions through the Bitcoin Spot ETF product, which was approved by the U.S. Securities and Exchange Commission (SEC) a month ago.
These days, the massive accumulation of Bitcoin by institutional players through Bitcoin spot ETF products is 12 times more than the daily creation of new Bitcoins on the Bitcoin network. This is a very big picture that explains the level of inflows into the Bitcoin market.
Along with these data reports, some data also shows that large players are also investing huge amounts in major cryptocurrency assets along with Bitcoin. These best crypto assets to invest in are Dogecoin, XRP, Chainlink, Avalanche, Solana, Cardano, and Shiba Inu token.
Public interest surrounding Solana Coin has surged following a statement from fund manager Franklin Templeton, who has $1.5 trillion in assets under management, predicting the potential of a Solana spot ETF product following the approval of its application for an Ethereum spot ETF. .
On the other hand, the XRP coin is already a powerful force against the hostile environment for cryptocurrencies in the United States, as a court judge ruled in the Ripple vs. SEC case that XRP is not a security token. Therefore, retail and institutional investors are blindly buying XRP in huge quantities.
The current trading price of Solana (Sol) coin is $115.5, which is 96% higher than what it has been trading at over the last 3 months.
On the other hand, the trading price of XRP is somewhat calm. The current trading price of XRP coin is $0.54 and this trading price has decreased by -11% in the last 3 months.
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