Ethereum

2024

Litecoin

Solana

<p>According to the latest report by CoinShares, the star blockchain Ethereum experienced capital outflows amounting to 61 million dollars in a single week. This marks its worst performance since August 2022. This situation raises many questions about the future of the ETH crypto and its impact on the crypto market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> Digital asset investment products saw their third consecutive week of outflows totalling US$30m, with <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> seeing its the largest outflow since August 2022, totalling US$61m.<br> <br>Get more insights in our full report: <a href="https://t.co/gc7CX46Ys0" rel="noopener noreferrer nofollow">https://t.co/gc7CX46Ys0</a> <a href="https://t.co/HP2ZmB9W2m" rel="noopener noreferrer nofollow">pic.twitter.com/HP2ZmB9W2m</a></p>— CoinShares (@CoinSharesCo) <a href="https://twitter.com/CoinSharesCo/status/1807714566198952077?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 1, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  Unprecedented capital outflows on Ethereum
 </figcaption>
</figure>
<h2 id="h-ethereum-records-a-massive-loss-of-61-million-dollars">Ethereum records a massive loss of 61 million dollars</h2>
<p>In just one week, investment products based on Ethereum recorded <strong>a massive loss of 61 million dollars</strong>. This worrying trend marks the third consecutive week of capital outflows for digital assets.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>According to <a href="https://blog.coinshares.com/volume-189-digital-asset-fund-flows-weekly-report-5265d50f2769" target="_blank" rel="noopener noreferrer nofollow">the report</a> by CoinShares, this is a massive capital outflow <strong>not seen since August 2022</strong>. Total losses over two weeks amount to 119 million dollars. Enough to raise questions about Ethereum’s future performance!</p>
<p>Admittedly, <strong>trading volume has increased by 43%</strong>. Nevertheless, it still remains well below the annual average of 14.2 billion dollars. This indicates a decline in activity and investor confidence in the Ethereum crypto-asset.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-what-impacts-on-the-crypto-market">What impacts on the crypto market?</h2>
<p>While Ethereum is undergoing massive capital outflows, other cryptocurrencies are showing positive signs. This is particularly the case for <strong><a href="https://www.cointribune.com/en/the-bitcoin-etf-market-is-more-lively-than-ever/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin, which recorded inflows of 10 million dollars</a></strong>. Solana and Litecoin recorded inflows of 1.6 million dollars and 1.4 million dollars respectively.</p>
<p>As of today, <strong>investment products</strong> based on Ethereum are thus <strong>the least performing</strong>. However, this could have significant repercussions on the entire crypto ecosystem, particularly on the Ethereum blockchain.</p>
<p>For example, dApp and ERC-20 token developers might be encouraged to turn to competing platforms. This would jeopardize <strong>Ethereum’s dominant position in the smart contract domain</strong>.</p>
<p>The recent capital outflow from Ethereum highlights <a href="https://www.cointribune.com/en/the-crypto-market-is-collapsing-bitcoin-and-ether-in-free-fall/" target="_blank" rel="noopener noreferrer nofollow">the challenges</a> the digital asset market is facing.</p>

Ethereum in Crisis: The biggest capital outflow since August 2022!

Table of Contents

Cointribune EN

Other articles published on Jul 3, 2024

Bitcoin Eyes $63,000 Amid Positive Liquidity Trends and Technical Breakout Signals

Is MTAUR the next big crypto? Why SHIB and PEPE whales are making the switch

Horizon Protocol Perpetual Futures Launch Promises Unmatched Trading Experience

Polkadot (DOT) Stuns Community With Unexpected Rebrand Update

Fidelity, Sygnum partner with Chainlink to bring NAV data onchain

Artificial Superintelligence Alliance Price Prediction: FET, AGIX And OCEAN Merge As Analysts Say...

Join our free newsletter for daily crypto updates!