Key Points
- Coinshares has released a report showing that investors are profiting from digital assets markets, with Bitcoin being the main focus.
- The report shows that over the past seven days, BTC had an outflow of $111M, while digital assets products saw outflows topping $107M.
Coinshares have released a report showing that investors spent the past week taking profits from their digital assets as Bitcoin recorded a $111M sell-off and Digita asset products followed closely with a combined sell-off of around $107M.
Coinshares releases report showing taking profit sentiment from digital assets markets over the past week
The report by Coinshares shows that the summer YoY trading volumes are down 36% on average, with on-exchange YTD average trading volumes plummeting by 62%.
The regional outflows per Coinshare’s report were focused on two ETP providers, Germany and Canada, which saw outflows of $71M and $29M, respectively. In the same period, Bitcoin led in sell-offs, recording total outflows of $111M. This outflow is the highest ever recorded since March.
On the other hand, Ethereum recorded an outflow of $6M through other improving altcoins throughout the study. The report indicates that the highest inflows/ buys were recorded on Solana, which received $9.5 M, its largest weekly inflow since March when the US SEC began wide crypto regulatory crackdowns.