Despite the massive market-wide sell-off last week, digital asset investment products saw a slight outflow of $9 million last week.
According to CoinShares, Bitcoin saw a third consecutive week of outflows totaling $15 million, while Ethereum reported $3 million in inflows last week.
This indicates that investors are more positive towards Ethereum than Bitcoin especially with the upcoming September 15 consolidation update.
Status of financial flows to and from the crypto market:
Digital asset management firm CoinShares has released its Money Flow Report for the cryptocurrency market for the week ending August 19.
The report revealed that cryptocurrency investment products saw slight inflows of $9 million last week.
Digital asset investment products also recorded $1 billion in volumes, still 55% below the overall average.
The report indicates that investor participation is currently low due to the pressures of the cryptocurrency market.
Most outflows were reported in the United States, Germany and Sweden.
While investors in Brazil, Switzerland and Australia are pouring money into crypto investment products.
Bitcoin investment products saw $15 million in outflows, the third consecutive week of outflows.
Bitcoin is in moderate negative sentiment due to the uncertainty and “FUD” surrounding the Fed rate hike.
Ethereum investment products saw inflows totaling $3 million.
The ongoing flows towards Ethereum and its derivatives are the result of improved clarity about the merger upgrade and its history.
Other cryptocurrency investment products including ADA, XRP, and BNB have seen minor inflows.
Institutional investment products saw relatively less impact amid market-wide selling last week.
In conclusion, it can be said that institutional investors view cryptocurrencies is relatively stronger than that of whales and retail investors.
Posted using Tribaldex Blog
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