David Duong, Head of Institutional Research at Coinbase, stated that despite Bitcoin and Ethereum being the top coins, altcoins are still drawing significant interest from institutional investors. In a discussion with crypto analyst Scott Melker, Duong explained that 55% of trading flows on Coinbase’s exchange from institutional clients are still on Bitcoin and ETH, but the remainder is on altcoins. Additionally, the conversation covered the market performance over the past year and the possibility of new money entering the crypto space. Morgan Creek Capital’s Mark Yusko mentioned that spring is here, but summer is coming with the Bitcoin halving and Ethereum Shanghai Fork approaching. However, the conversation warned that there could be a weak period for risk assets due to the economy’s potential debt ceiling issues in the second quarter.
