A report from CoinShares revealed Cardano (ADA) received an inflow of institutional funds of $ 10 million last week.
The drastic amount is said to have something to do with the shift in interest of investors who are now opting for Proof-of-Stake (PoS) cryptocurrencies because they are more environmentally friendly.
At the same time, Polkadot (DOT) saw inflows of $ 5.5 million, making both of these assets stand out.
Last week, cryptocurrency investment products recorded fund outflows of around $ 97 million, with Bitcoin (BTC) recording as much as $ 111 million and Ethereum (ETH) nearly $ 12.6 million.
CoinShares in a report that either explained record outflows was still at its lowest level, representing only 0.2% of total assets under management (AUM).
Meanwhile, the overall record inflows for cryptocurrencies other than Bitcoin recorded a value of $ 27 million, led by Cardano.
The crypto market is currently seen recovering with market value returning positive, rising to $ 1.6 trillion after declining to its lowest level on May 24th.
At the time of writing, within 24 hours this cryptocurrency is trading on:
BTC: $ 38,570 (up almost 6%)
ETH: $ 2,619 (up almost 16%)
ADA: $ 1.58 (up 9.4%)
DOT: $ 22.24 (up almost 11%)
