Avalanche Price Soars 20% After Report Reveals $25M Inflow Into AVAX Investment Vehicles

©Reuters. Avalanche Price Soars 20% After Report Reveals $25M Inflow Into AVAX Investment Vehicles

(AVAX) has rallied around 20% in the last two days as a new report revealed millions of dollars inflows of AVAX-based investment products.

Produced by CoinShares, an institutional cryptocurrency fund manager, the report highlighted that Avalanche-based investment vehicles attracted some $25 million in the week ending February 21, the second largest inflow on record in that period after the USD 89 million ().

Asset flow. Source: Bloomberg and CoinSharesIn contrast, Ether (ETH), Avalanche’s main rival in the smart contract sector, saw an outflow of $15 million. Overall, Avalanche and similar cryptocurrency investment products attracted some $109 million, posting their fifth straight week of positive numbers.

Read the full article on Cointelegraph

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