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<p>Digital asset investment products faced a third consecutive week of net outflows totalling $30 million. This trend highlights a mixed sentiment in the cryptocurrency market, with some assets experiencing significant withdrawals.</p>
<p>According to <a href="https://blog.coinshares.com/volume-189-digital-asset-fund-flows-weekly-report-5265d50f2769" target="_blank" rel="noopener noreferrer nofollow">CoinShare’s</a> report, Ethereum saw its most considerable outflows since August 2022, recording $61 million this week. The past two weeks combined brought the outflow to $119 million, making Ethereum the worst-performing asset regarding net flows for the year. Contrasting with Ethereum, Bitcoin ETPs observed inflows of $10 million. Multi-asset products also showed positive movement, attracting $18 million. These inflows indicate a partial recovery or reallocation within the digital asset markets.</p>
<h2 class="wp-block-heading" id="trading-volume-and-regional-flows">Trading Volume and Regional Flows</h2>
<p>Trading volumes increased 43% week-over-week, totalling $6.2 billion. However, this remains below the year’s average weekly volume of $14.2 billion. Geographically, the U.S., Brazil, and Australia reported positive inflows, whereas Germany, Hong Kong, Canada, and Switzerland experienced notable outflows. The market saw an increase in outflows from short-Bitcoin positions, amounting to $4.2 million, suggesting a change in investor sentiment towards Bitcoin. Altcoins like Solana and Litecoin also captured investor interest with inflows of $1.6 million and $1.4 million, respectively.</p>
<p>Despite a generally positive sentiment in the broader crypto market this year, blockchain equities faced a downturn, with outflows reaching $545 million. This figure represents 19% of their total assets under management, underscoring a bearish outlook among equity investors.</p>

Digital Asset Markets Show Mixed Signals Amid Ethereum’s Record Outflows

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Alte articole publicate pe 1 iul. 2024

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