The repercussions of the FTX crisis of early November continue to linger. According to the latest statements, institutional investors are selling Tezos and these 5 altcoins. The $23 million exit reveals the ongoing negativity after FTX.
The exits from Tezos and these altcoin projects continue
Cryptocurrency investment products have faced big exits after the negativities experienced in the past weeks. In addition, as a result of the continuation of the negativities, a total outflow of 23 million dollars is transferred.
Short investment products show a mix of inputs and outputs that differs between providers. In addition, when only long-term investment products are considered, mainly outflows are observed.
According to data provided by CoinShares, Ethereum has witnessed minor outflows totaling $6 million. In addition, the last week saw large entries of short products. However, looking at the present, it is seen that it has completely reversed with an outflow of 15.2 million dollars.
Overall, blockchain stocks also saw $13 million exits in the past week. After the crisis created by the crypto money exchange FTX, the loss is clearly stated.
The traces of FTX continue
Crypto investment products have seen a total outflow of $23 million after the downturn in early November. When looking at short investment products, we witness a mix of inputs and outputs that differ between providers. In addition to these, when looking at long-term investment products, mainly only outflows were seen.
Regionally, the largest outflows are seen in Canada and Sweden, as quoted by CoinShares. The negative environment experienced has led to exits from long investment products in all regions. It also focused on the USA, Sweden and Canada for short product entries. Germany and Switzerland state that overall, investors only take long positions. Apart from this, it is noteworthy that it was sold from short positions.
Leading cryptocurrency Bitcoin has witnessed $322 million outflows from the beginning of the year to date. It is also stated that there are outflows of 10 million dollars with small transactions.
As we have reported as Kriptokoin.com; Leading altcoin Ethereum has witnessed small outflows totaling $6 million. Big inflows for short products last week have completely reversed after $15.2 million exit. According to cryptocurrency analysts, it is stated that it is still early to say that this is a positive change in mood.
In addition, exits in altcoin projects continue. There were $ 0.5 million outflows from XRP, the altcoin of the Ripple ecosystem. It also saw $0.3 million and $0.2 million in sales on Polygon and Tezos, respectively. With these numbers, XRP, Polygon and Tezos became the main focus.
Lastly, blockchain stocks also saw 13 million-worth jumps last week. After the FTX crisis, the harmful outlook in the crypto money markets continues.
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