Smaller cryptocurrencies are rising in prominence again as bitcoin posted its eighth consecutive week of outflows and newcomer cardano held the spotlight.

Altcoins including ether, solana, cardano and polkadot now represent 32% of total digital assets under management by investors, according to data from CoinShares, close to the record 35% set in mid-May and surpassing the 30% high seen back in January 2018.