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The small fish may be reacting to market-wide selling pressure, but institutional crypto investors have adopted a different stance, pouring hundreds of millions into digital asset investment vehicles last week.
According to a CoinShares report, digital asset investment products saw inflows totaling $308M, masking December 19’s $576M outflows (the single largest day). Total outflows in the final 48 hours of last week stood at $1B.
“While these outflows may sound alarming, they comprise just 0.37% of total AuM (assets under management), ranking as the 13th largest single-day outflow on record,” the report notes. “The largest single-day outflow took place in mid-2022 when the FOMC (Federal Open Market Committee) interest rate hike prompted $540M outflows (2.3% of AuM.)”
Price corrections, meanwhile, saw a $17.7B reduction in total AuM for digital asset exchange-traded products (ETPs), which CoinShares attributes to a market response to economic projections released by the FOMC on December 18. The US economy is forecast to grow 2.5% this year and 2.1% in 2025.
CoinShares adds that multi-asset investment products experienced the most dramatic outflows in the same period, at a total of $121M last week.
On the other hand, Bitcoin ($BTC) saw $375M in net inflows, compared to Ethereum’s ($ETH) $51M. Whales played a significant role in $ETH inflows over the past few days, acquiring more than $1B (340K $ETH) despite $ETH’s current correction phase.
Meanwhile, Binance reports that $ETH exchange-traded funds (ETFs) saw net inflows of $62.73M between December 16 and December 20. That brings the cumulative historical net inflow of $ETH ETFs to a total of $2.328B, with a total net asset value of $12.155B.
Whale Activity To Spur Meme Coin Crypto Prices
$ETH isn’t the only token attracting whales. Despite the recent dip, Dogecoin ($DOGE) has also seen increased whale activity, with two recent transactions totaling $23.5M and $34M respectively.
Typically, whale inflows signal investor confidence and act as a precursor to a crypto rally, so it appears market sentiment is about to change.
That’s particularly good news for meme coin newcomers, including the recently listed Pepe Unchained ($PEPU) and Crypto All-Stars ($STARS), as well as Wall Street Pepe ($WEPE), which is currently on presale.
Wall Street Pepe has a personal vendetta against whales trading in insider groups. That’s why he is assembling an army of retail investors. And by sharing his trading knowledge and market insights with them, he’ll turn those little guys into whales in their own rights. This clear and relatable goal makes $WEPE one of the best meme coins this December.
Despite a broader market turndown, investors have been flocking to the $WEPE presale. Since launching just 21 days ago, $WEPE raised over $35M, including $1.67M in the past 24 hours. This also raises the question: could $WEPE be the token that dethrones $PEPE?
Time for Retail Investors to Lead the Charge
$WEPE’s current price of $0.000365 is due to increase today. Even then, it will be a great early-bird investment—and an opportunity to support $WEPE’s mission to even the playing field for retail and institutional crypto investors.
But first, please take the time to DYOR; this article does not constitute financial advice. Find out more by visiting the official website, reading the $WEPE whitepaper, and checking out the X channel.
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