Ethereum, SOL, MATIC, BNB: Which Altcoin has Favorable 'Bear Market' Odds?
Crypto and digital asset investment products saw minor inflows summing up to $8.8 million last week. Trading volumes, however, reached a new 2-year low of $677 million for the week. The market’s largest crypto, Bitcoin, saw inflows totaling $17 million. CoinShares’ latest weekly report outlined that sentiment has been “steadily improving” since mid-November, with inflows since then reaching $108 million in aggregate. Also Read: Will Bitcoin, Ethereum Turn a Bullish Page in 2023? That has, however, not been the case with Ethereum and other Altcoins. Chalking out the diverging sentiment when compared to Bitcoin, CoinShares noted, “Ethereum saw a 4th consecutive week of minor outflows totaling US$2.4m, and since mid-November has seen outflows totaling US$22m, highlighting continued diverging sentiment relative to Bitcoin.” Alongside the macro price dip and the weak institutional sentiment, a severe contraction of liquidity, has also been no...