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The outflow of funds from cryptocurrency investment products from August 13 to August 19 amounted to $ 9 million against $ 17 million a week earlier. Such estimates were given by analysts of CoinShares.
The trading volume ($ 1 billion) showed the second lowest value this year and was 55% below the average.
In traditional bitcoin funds, there was an outflow of $ 15 million In the structures that allow you to open shorts on the first cryptocurrency, an inflow of funds ($ 0.2 million) was recorded.
Revenues to products based on Ethereum ($ 3 million) continued for the ninth week in a row, but at a minimum pace. Despite the increased interest in the run-up to The Merge on September 15-16, since the beginning of the year, Ethereum funds have experienced an outflow of $ 296.8 million.
The Merge: Will the Market Restart a Massive Ethereum Update?
Investors invested a total of $ 2.7 million in funds based on a basket of altcoins for the week, among the individual instruments, funds based on Solana (-$ 1.4 million) stood out.
Recall, the CEO of Galaxy Digital Mike Novogratz predicted the preservation of the price of bitcoin in the corridor of $ 20,000-$ 30,000.
Earlier, the president of Euro Pacific Capital, Peter Schiff, doubted that digital gold would reach new highs. In his opinion, the first cryptocurrency is likely to continue to fall to $ 10,000 and below.
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