Bitcoin being the first cryptocurrency has dominated the crypto market for a very long time, and it appears that the reign of Bitcoin may soon be over, as data from Coinshare shows that there are more Inflow of funds in Altcoins especially Cardano and Ethereum as compared to Bitcoin .
Data from Coinshare reveals that Ethereum inflows totaled $17.3 million last week followed by Cardano stabilizing at $16.4 million, and the general market at $151 Million. It was revealed that Altcoins like XRP, Solana and Polkadot contributed to a greater portion of the $151 Milion after Cardano and Ethereum.
It was also revealed that Institutions are moving towards Altcoins as against the anticipated Bitcoin,perhaps because they are more affordable, and easier to invest when compared to Bitcoin. Outside Cardano, Ethereum and other popular Altcoins, the coming of Shit coins have also lead to an increased inflow of funds in Altcoins. Considering that these Shit coins are very much affordable and gives faster return, it is possible that in coming years Bitcoin daily trading volume will reduced greatly.
This does not suggest that Bitcoin will lose it’s position in the crypto market but the fact remains that Altcoins investment will reduce it’s inflow of funds.