In a remarkable reversal of fortune, Ethereum received inflows for the second consecutive week, thanks to the Securities and Exchange Commission’s (SEC) approval of a spot-based ETF scheduled to launch in July 2024. Previously, Ethereum had experienced outflows amounting to $200 million over a span of 10 weeks. The positive sentiment surrounding Ethereum also had a ripple effect on other cryptocurrencies such as Solana, which garnered $5.8 million in inflows during the previous week.
Other cryptocurrencies like XRP, Cardano, Chainlink, and Litecoin also experienced inflows. XRP attracted $800,000, Cardano received $300,000, Chainlink saw $1 million, and Litecoin welcomed $600,000 in investments.
