According to cryptocurrency data company CryptoCompare, Bitcoin (BTC)-based investment products face strong competition from altcoin-based products.
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Crypto data firm said in a new report that investment products based on Litecoin (LTC) and Solana (SOL) delivered better returns than products based on BTC in the 30-day period leading up to November 19. CryptoCompare says that Bitcoin-based investment products recorded losses in the same period, while Ethereum and Solana-based products recorded profits.
The report also highlights that the level of assets under management (AUM) for Bitcoin has seen a significant monthly decrease, while the AUM for other cryptoassets has increased.
The report also included the following statements: