News Formal

Stellar, Ripple and Solana-Based Investment Funds See AUM Spike in July

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Assets under management for $XRP, $SOL and $XLM-based funds have risen sharply according to data from CCdata_io. LedesmaLyllah writes

Most of the AUM boost came on July 14, one day aftersharp price gains

across the crypto sector, particularly for XRP itself as well as other altcoins, XLM and SOL among them. AUM for XLM-based products increased by 62.7% to $17.3 million. Among those funds is Grayscale's Stellar Lumens Trust , whose premium to net asset value surged to 330%, said CCData. XRP-based products recorded a 33.2% increase in AUM in July to $65.7 million, and SOL-based products saw a 55.7% increase in AUM to $87.8 million, said the report.

“Sentiment surrounding XLM has been positive over the past month, bolstered by the advancement of its partnership with USDC's Circle and strategic collaborations with entities such as MoneyGram,” said Hosam Mahmoud, research analyst at CCData, in a note to CoinDesk.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Some Broad Ripple businesses revert to normal business hours, citing financial concernsAfter recent efforts to improve safety in Broad Ripple, numerous bars and businesses are now reverting back to regular business hours after citing financial concerns.
Source: wrtv - 🏆 598. / 51 Read more »