Cryptocurrency At a time when Binance FUD is on the agenda in the market, analysis company CoinShares shared its report on weekly crypto fund flows.
Net Outflow From Cryptocurrency Funds Is $30 Million
While digital asset investment products saw a total outflow of US$30 million last week, outflows in most asset types pointed to widespread negative sentiment last week as uncertainties regarding FTX-related businesses persisted and the Fed’s harsh rhetoric continued.
This latest price decline has brought total assets under management of the funds (AuM) to $22.3 billion, similar to the lows in the FTX crash.
in bitcoin There was a total outflow of US$17.5 million, while small inflows totaling US$1.1 million were recorded in short Bitcoin investment products.
We’ve seen similar fluctuations in sentiment, but they represent the biggest surge since early September, just after the Fed’s stronger-than-expected comment.
Ethereum ETH funds experienced a net outflow for 5 weeks in a row, with $ 9.1 million out of their funds.
Exits were seen in other altcoins; the most important of these with 1.1 million dollars BNB, with 0.3 million dollars XRP and with $0.4 million polkadot it happened. Solana was the only altcoin to stand out with a total net inflow of $0.7 million.
*Not investment advice.
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