XRP and Solana stand out among crypto products amid significant investment outflows from Ethereum.
Crypto Market Overview
According to CoinShares, on Friday, March 21, XRP drew in $6.71 million, and Solana brought in $6.44 million. Other altcoins received less attention: Polygon (MATIC) got $400,000, and Chainlink (LINK) acquired $200,000. Conversely, Ethereum experienced an outflow of $86 million, being the week's biggest loser.
Bitcoin and Other Cryptocurrencies Position
The crypto market as a whole rebounded, attracting $644 million after five consecutive weeks of losses. Bitcoin played a significant role, bringing in $724 million over the week, with the United States contributing $632 million largely due to BlackRock's iShares Bitcoin Trust (IBIT).
Factors Driving Success for XRP and Solana
XRP's success is attributed to the favorable outcome of its legal battle against the U.S. Securities and Exchange Commission (SEC), boosting investor confidence. Solana is gaining attention as the U.S. prepares to launch its inaugural Solana futures exchange-traded fund, potentially paving the way for a spot ETF.
XRP and Solana demonstrated strong capital inflows despite the challenges faced by Ethereum and overall market instability.
