Polkadot products received $ 7 million in cash flow last week.
With Bitcoin's downward movement last week, the introduction of money into the market took a significant hit. Despite the overall decline, Polkadot (DOT) reported an increase in weekly currency inflows.
According to the latest weekly report published by CoinShares, cash flow figures for cryptocurrency investment products remained at $ 395 million. Data for the third week of February showed $ 492 million, marking a drop of about 20% compared to this week.
Cash Flow To Polkadot Products
Polkadot products received $ 7 million in cash flow last week. About $ 91 million in cash flow was recorded for Ethereum products, the second largest cryptocurrency market. The drop in the amount of money flowing is driving financial institutions to retreat from the idea of investing in Bitcoin. Bitcoin has seen $ 300 million of cash flow into its products in the past week. But on the basis of market capitalization, more cash inflows were recorded in Ethereum and Polkadot. Binance Coin (BnB) products saw small inflows of about $ 3.7 million. Monday's Friday cash flow dropped to about $ 12 million, while cryptocurrency cash flow declined to $ 100 million as the week progressed.
Corporate Interest In Cryptocurrency Market
Institutional investors are now showing interest in different cryptocurrencies as digital assets record significant price increases. Polkadot, Ethereum and several other cryptocurrencies have seen an increase in corporate investment in the past few months. Despite bitcoin's market dominance, Ethereum, Polkadot, Binance Coin, Litecoin and Stellar have managed to attract the attention of major institutions since the beginning of 2021. Digital assets in the reserves of Grayscale, the world's largest cryptocurrency asset manager, are worth about $ 36 billion. According to CoinShares data, the total cryptocurrency assets under management in the first two months of 2021 are worth about $ 45 billion.