There was a total outflow of $39 million in digital asset investment products. Total assets under management (AuM) is $36 billion, down 59% from the November 2021 peak. The leading altcoin has experienced 11 weeks in a row. With this, Ethereum rival Solana and leading crypto Bitcoin saw entry last week.
Cryptocurrencies have seen a net outflow
A total of 39 million dollars outflow was realized in digital asset investment products. Currently, total assets under management (AuM) are currently at their lowest level since February 2021. AuM fell 59% from the November 2021 peak to $36 billion. On the other hand, despite the recent negative feelings, the flow from the year to date continues to be positive. A total flow of 403 million dollars was realized.
There was $79 million, $12 million and $12 million in entries in the US, European and Brazilian stock markets, respectively. The aggregate data masks a significant regional polarization, with recent weeks almost exclusively ($141 million) outflows from Canadian stock markets.
Funds from 4 altcoin projects including Ethereum went to these
As you have reported as Kriptokoin.com, Bitcoin saw a total of $ 28 million inflows last week. Also, Bitcoin seems to be taking advantage of weak prices with monthly inflows of $46 million. Short-Bitcoin AuM hit an all-time high of $64 million at the start of last week. However, it saw record exits totaling $5.8 million. Therefore, according to experts, this suggests that negative emotion may be close to its peak.
Multi-asset investment products, which have been the most resistant to inflows this year, totaled $9 million last week. On the other hand, the leading altcoin Ethereum has experienced exits for 11 weeks in a row. That’s why Ethereum continues to suffer, with a total of $70 million in outflows last week. At the same time, year-to-date outputs reached 459 million dollars.
Apart from Ethereum, there are other altcoin projects that are seeing output. Two of these are Ethereum rivals Cardano (ADA) and Polkadot (DOT). Altcoin projects witnessed outflows of $0.4 million and $0.3 million, respectively. Also, an altcoin that has been suffering in recent days has seen more exits. This altcoin, Tron (TRX), Tron, which has been on the agenda of recent days due to its stablecoin USDD, lost $ 0.9 million in funds.
However, an Ethereum competitor managed to see entry in tough times. Solana withdrew $0.7 million in funding last week. Its Ethereum rival, with $109 million in entries to date, seems to be capitalizing on investors’ concerns over The Merge (ETH 2.0).
In the meantime, there are two more altcoin projects that are entering, although not until Fade. These are Litecoin (LTC) and Binance Coin (BNB), an old acquaintance. These altcoins witnessed inflows of $0.1 million and $0.3 million, respectively.
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