Crypto Market: Outflows Exceed $6.4B Over Five Weeks

user avatar

by Giorgi Kostiuk

2 years ago

According to the latest CoinShares report, cryptocurrency investment products continue to see significant investor withdrawals, marking the longest period since tracking began in 2015.

Bitcoin Outflows

Bitcoin investment products suffered the largest outflows, with $978 Million leaving BTC-focused funds last week. The five-week total outflow reached $5.4 Billion. Despite this, Bitcoin products maintain the largest position in the crypto investment sector, with $113.47 Billion in assets under management.

Regional Withdrawal Trends

The geographical distribution of crypto outflows shows a significant concentration. The United States accounted for the majority of the withdrawals, pulling $1.16 Billion from digital asset products last week, making up 93% of all outflows during this negative streak. Switzerland followed with $527.7 Million in outflows.

Ethereum and Other Altcoins

Ethereum experienced the second-largest outflows with $176 Million, maintaining $9.95 Billion in assets under management. Solana-focused products saw $2.2 Million in outflows, maintaining their position with $1.3 Billion in assets. Some altcoins, such as XRP, attracted positive investor interest, recording $1.8 Million in inflows.

Despite extensive outflows, certain cryptocurrency products and markets exhibit resilience. The CoinShares report highlights significant shifts and allocates trends on a global scale.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.