Products exchanged by CryptoCurrency Exchange (ETP) have experienced the largest weekly seller-off ever, with flows reaching a record of $ 2.9 billion last week.
In the midst of three consecutive weeks of flowers, the Global Crypto ETP saw $ 3.8 billion eliminated, the European Crypto Investment Firm Coinhares reported on March 3.
Crypto ETP Bloodbat is likely to be driven by many factors, including $ 1.5 billion bybit hack.
“These elements are likely to lead to a mix of income acquisition and weak feelings toward the property class,” he added.
Weekly Crypto ETP flow since late 2024. Source: Coinhares
Bitcoin Bleeds the most, while Sui is the biggest winner
As the largest owner for Global Crypto ETPS, Bitcoin (Btc) “Bore the brunt of the weaker sentiment” with $ 2.6 billion last week, Butterfill reported. Its month-to-date (MTD) flow also drops $ 3.2 billion. Short bitcoin ETPs have seen minor flows worth $ 2.3 million.
On the other hand, sui (Sui) was the best performer in terms of ETP last week, seeing $ 15.5 million in flows. XRP (XRP) -Based ETPS followed by $ 5 million flows.
Flow by possessing (in millions of US dollars). Source: Coinhares
Etps to ether (Eth), the second largest crypto asset by Market Cap, has seen $ 300 million in last week’s flows, with MTD flows worth $ 490.3 million.
In the latest sale, total assets under Management (AUM) in crypto ETPs dropped to $ 138.8 billion after rising to a historic high of $ 173 billion In January.
This is a story development, and further information will be added as it is available.
