In the fourth week in a row, there was a total outflow of USD 54 million in digital asset investment products. Accordingly, the total output reached US$ 200 million. This represents 0.6% of total managed assets (AuM). While there was an outflow of $ 38 million in Bitcoin (BTC), 4 altcoins were in demand from investors.
Digital asset investment products debuted for the 4th week in a row
According to data from analytics resource Coinshares, digital asset investment products have been out for the 4th week in a row. In this context, with a total output of 54 million USD, the total output reached 200 million USD. This represents 0.6% of total managed assets (AuM). Recent price drops showed that total AuM has dropped by 13% since its peak in mid-April.
It is noteworthy that the outflows are concentrated in Europe
Similar to last week, the exits were large-scale regionally. According to experts, this shows that the negative sentiment is not concentrated on just a few investors. However, 84% of outflows, especially in the US, came from investors selling short positions. Considering this situation, the outflows were primarily concentrated in Europe.
Exits gained intensity on Bitcoin
As we reported as Kriptokoin.com, there was a total of 38 million US dollars outflow in Bitcoin (BTC). The total for the last four weeks has reached US$160 million. This represents 80% of all exits during the period. It also reaches $201 million when combined with short Bitcoin exits. Thus, he highlights that recent investor activity has focused almost exclusively on this asset.
Meanwhile, the cryptocurrency market is generally trading in the green on the daily outlook. The leading crypto Bitcoin is trading at $27,447 at press time, up 1.90% on a daily basis. On the weekly timeframe, BTC is in the red and has lost 1.37%.
Along with Bitcoin, BNB saw the exit, while 4 altcoins registered
Last week, there was an outflow of 7 million USD in multi-asset investments. Unusually, there were 8 different altcoin assets. According to experts, u also shows that investors are becoming more adventurous and selective. The most notable entries were Cardano (ADA), Tron (TRX) and Sandbox (SAND), which received $0.5 million, $0.23 million and $0.2 million respectively. Binance Coin (BNB), on the other hand, was the only altcoin to see a total output of $ 0.5 million. Meanwhile, the token of the world’s largest crypto exchange is changing hands at $314, up 0.6% on a daily basis.
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