Last week, crypto assets like Bitcoin and Ethereum managed to jump above key price levels. However, the recent spike was not enough to change market sentiment as institutional investors pulled out almost $63 million from digital asset products.
According to the weekly digital asset fund flows report by CoinShares, Ethereum remained the primary focus of outflows. Outflows from ETH products stood at around $61.6 million last week. Year-to-date outflows from Ethereum products now stand at $360 million, the highest among major crypto assets.
“Digital asset investment products saw outflows totaling US$63m, the 5th consecutive week of outflows when taking into consideration the negative sentiment inferred by last week’s inflow into short-bitcoin investment products. The outflows remain relatively small in size, totaling US$99m over the last 5 weeks, while volumes remain only 46% of this year’s average at US$1bn for the week. Despite the uptick in prices on Friday, it was the largest day...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...