YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Institutions avoiding Ethereum, Solana, XRP: Alt-Season No-more?

October 13, 2022
in Altcoins
Reading Time: 2 mins read
A A
Institutions avoiding Ethereum, Solana, XRP: Alt-Season No-more?
ShareShareShareShareShare

You might also like

Kraken closes Abu Dhabi office; Bithumb owner arrested

Kraken closes Abu Dhabi office; Bithumb owner arrested

February 2, 2023
SBF reportedly dropped fight against extradition but sent back to jail after latest hearing

SBF wins Texas case alleging violations of securities laws via FTX offerings

February 2, 2023

The state of the broader crypto market has deteriorated over the past day. With Bitcoin and Ethereum trading below $19k and $1.3k at press time, the cumulative valuation of the crypto market stood at merely $915 billion.

The market, as a whole, has been moving in the same direction as Bitcoin. In fact, as highlighted in a recent article, Bitcoin dominance has been holding fast to its 2018 support of late.

Read More: Bitcoin dominance at 2018 support level: Recovery finally?

Is Altcoin Season anytime soon?

At the moment, the Altcoin Season Index reading has been hovering mid-way, at 57. Conventionally, it is called a Bitcoin season when the reading drops below 25. On the other hand, if it climbs above 75, an Altcoin season is said to be in play.

An Altcoin season usually transpires when 75% of the top 50 coins perform better than Bitcoin over the past 90 days. For them to perform better, the buying interest should be on the rise.

Of late, however, that’s missing from the market. CoinShares’ latest weekly report brought to light the malnourished interest of institutional investors w.r.t. top Altcoins. As illustrated below, Binance’s native BNB token registered outflows worth $0.5 million last week.

Solana and XRP were also a part of the same boat and noted negative flows summing up to $0.2 million and $0.1 million respectively. In fact, institutions let go of their Ethereum also, for the weekly flows of the largest Altcoin stood at -2.2 million. With respect to Bitcoin, however, the trend was completely the opposite. Institutions collectively piled up BTC worth $11.7 million last week.

Clearly, institutions have washed their hands of Altcoins of late. And if the said trend persists, we might not get an Altseason anytime soon.

Also Read: Bitcoin Bollinger Bands indicate Imminent Rise in Volatility: Here’s Why

Credit: Source link

Related Stories

Kraken closes Abu Dhabi office; Bithumb owner arrested
Altcoins

Kraken closes Abu Dhabi office; Bithumb owner arrested

February 2, 2023
SBF reportedly dropped fight against extradition but sent back to jail after latest hearing
Altcoins

SBF wins Texas case alleging violations of securities laws via FTX offerings

February 2, 2023
Asia, EU, US are bullish on Bitcoin, Ethereum
Altcoins

Asia, EU, US are bullish on Bitcoin, Ethereum

February 2, 2023
Charlie Munger calls on US to join China in banning crypto
Altcoins

Charlie Munger calls on US to join China in banning crypto

February 2, 2023
Next Post

Meet these five emerging startups at TC Sessions: Crypto • TechCrunch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Why MATIC Price Rally Is Stopping at Nothing, Armed with More Transactions Than Ethereum

Why MATIC Price Rally Is Stopping at Nothing, Armed with More Transactions Than Ethereum

January 28, 2023
Sudden rise in Canto gives some investors pause

Sudden rise in Canto gives some investors pause

January 29, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 23,548.00 1.18%
    • ethereumEthereum (ETH) $ 1,644.31 0.78%
    • tetherTether (USDT) $ 1.00 0.16%
    • bnbBNB (BNB) $ 326.29 2.55%
    • usd-coinUSD Coin (USDC) $ 1.00 0.02%
    • xrpXRP (XRP) $ 0.411341 0.94%
    • binance-usdBinance USD (BUSD) $ 1.00 0.27%
    • cardanoCardano (ADA) $ 0.400134 0.01%
    • dogecoinDogecoin (DOGE) $ 0.091164 4.42%
    • matic-networkPolygon (MATIC) $ 1.19 3.24%
    • okbOKB (OKB) $ 39.46 1.52%
    • solanaSolana (SOL) $ 24.27 3.88%
    • staked-etherLido Staked Ether (STETH) $ 1,640.40 0.58%
    • polkadotPolkadot (DOT) $ 6.56 0.99%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 0.93%
    • litecoinLitecoin (LTC) $ 99.45 1.43%
    • avalanche-2Avalanche (AVAX) $ 21.13 1.49%
    • tronTRON (TRX) $ 0.064079 0.93%
    • uniswapUniswap (UNI) $ 7.17 4.29%
    • daiDai (DAI) $ 1.00 0.01%
    • cosmosCosmos Hub (ATOM) $ 14.51 2.82%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,516.00 1.14%
    • chainlinkChainlink (LINK) $ 7.13 1.58%
    • the-open-networkToncoin (TON) $ 2.37 1.9%
    • moneroMonero (XMR) $ 172.77 2.84%
    • ethereum-classicEthereum Classic (ETC) $ 22.49 0.14%
    • leo-tokenLEO Token (LEO) $ 3.36 0.24%
    • aptosAptos (APT) $ 17.04 7.39%
    • bitcoin-cashBitcoin Cash (BCH) $ 137.26 0.91%
    • stellarStellar (XLM) $ 0.092049 0.57%
    • apecoinApeCoin (APE) $ 5.85 3.9%
    • quant-networkQuant (QNT) $ 143.96 3.87%
    • nearNEAR Protocol (NEAR) $ 2.43 1.01%
    • filecoinFilecoin (FIL) $ 5.47 5.14%
    • crypto-com-chainCronos (CRO) $ 0.080541 1.03%
    • lido-daoLido DAO (LDO) $ 2.25 2.91%
    • algorandAlgorand (ALGO) $ 0.256165 0.67%
    • vechainVeChain (VET) $ 0.024197 2.9%
    • hedera-hashgraphHedera (HBAR) $ 0.067318 2.96%
    • fantomFantom (FTM) $ 0.602508 4.95%
    • internet-computerInternet Computer (ICP) $ 5.77 5.39%
    • decentralandDecentraland (MANA) $ 0.782542 2.54%
    • axie-infinityAxie Infinity (AXS) $ 11.20 2.31%
    • aaveAave (AAVE) $ 88.32 1.07%
    • the-sandboxThe Sandbox (SAND) $ 0.749936 2.17%
    • eosEOS (EOS) $ 1.07 1.27%
    • flowFlow (FLOW) $ 1.11 3.06%
    • elrond-erd-2MultiversX (EGLD) $ 45.00 1.28%
    • theta-tokenTheta Network (THETA) $ 1.07 1.53%
    • fraxFrax (FRAX) $ 1.00 0.45%