The latest week had a total outflow of $39 million from digital asset investment products, making the previous six weeks’ outflows reaching $272 million. There were several assets that saw inflows, despite the generally unfavourable market attitude. These were Litecoin (LTC) and XRP.
Thus, the amount of money flowing into investment products with a focus on Litecoin over the last week was $500,000, bringing the total from the beginning of the month to $800,000 and the total from the beginning of the year to $1 million. These characteristics lead us to the conclusion that LTC has just lately captured the interest of this group of investors. The rationale is because there are only around two months until Litecoin’s halving, and history indicates that the token’s price has increased in the past under circumstances comparable to these.
Contrarily, just $100,000 was invested in XRP-focused investment products during the last week. But since the start of the year, XRP has received $3 million, which is three times as much as LTC.
This dynamic can be explained by the fact that investors aren’t in a rush to invest in XRP-related digital goods right now. Although money has been coming in steadily since the start of the year, this suggests that investors do have some hopes for XRP. They are most likely waiting because of the SEC lawsuit against Ripple, which was usually anticipated to be resolved in the first half of 2023. Next week will reveal whether there will be XRP outflows when June arrives.
