CoinShares records the first outflow of funds from crypto derivatives in three months
It interrupted an 11-week period of inflows totaling $1,8 billion
18.12.2023 - 12:13
786
3 min
0
What’s new? Analysts at investment company CoinShares have recorded an outflow of funds from cryptocurrency derivatives for the first time in three months. From December 11 to 17, it totaled $16 million, interrupting 11 weeks of inflows totaling $1,8 billion. Bitcoin-based investment products saw the largest outflows last week, with $33 million in long positions and $0,3 million in short positions.
What else is known? Despite outflows, the trading volume for the week totaled $3,6 billion, well above the yearly average of $1,6 billion. Regionally, outflows were mainly concentrated in the US and Germany ($18 million and $10 million, respectively), partially offset by continued inflows in Switzerland and Canada ($9,1 million and $6,9 million).
The lack of a unified trend at the global level suggests that the outflow is more related to profit-taking rather than a change in investor attitudes toward the cryptocurrency class, CoinShares writes.
In addition to BTC, outflows were recorded in Ethereum and Avalanche-based products: $4,4 million and $1 million. At the same time, the inflow is noted in a number of altcoins, including Solana, Cardano, XRP, and Chainlink ($10,6 / $3 / $2,7 / $2 million).
Earlier, CoinShares had already named Solana the favorite altcoin of cryptocurrency investors. Inflows on it continue to persist despite the overall negative result of the past week.
Unknown earns $784 000 on investments in BONK in a month and a half
Over the past six months, the asset has risen in price by 8667%
Separately, analysts also mentioned the results on publicly traded shares of cryptocurrency companies. The inflow of funds into these securities amounted to $122 million, and in just 9 weeks it reached the highest in the entire history of observations at $294 million.
The total capitalization of the crypto market has hardly changed over the week, having lost 0,6%. As of December 18, 11:30 UTC, it amounted to $1,613 trillion.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$74 880
BTC
+8.96%
-
Ethereum
$2 598.68
ETH
+6.81%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$0.534031
XRP
+4.93%
-
Dogecoin
$0.206581
DOGE
+25.23%
-
Cardano
$0.360262
ADA
+8.88%
-
Bitcoin Cash
$377.71
BCH
+12.47%
-
Polkadot
$4.07
DOT
+6.3%
-
Litecoin
$70.01
LTC
+4.54%
-
Stellar XLM
$0.096761
XLM
+5.67%