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">
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     <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>
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  Unprecedented capital outflows on Ethereum
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<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>
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<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>
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<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!

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