Summer doldrums? Crypto volumes are down 55%, according to CoinShares

2022.08.23 06:37

Summer doldrums? Crypto volumes are down 55%, according to CoinShares

Crypto investment products registered minor weekly outflows last week as volumes plunged to their second-lowest levels of the year, signaling weak demand among institutional investors during the tail end of summer.

Outflows from digital asset investment products totaled $8.7 million in the week ending Sunday, CoinShares reported Monday. Bitcoin (BTC) investment products saw a third consecutive week of outflows totaling $15.3 million. Funds with direct exposure to Solana (SOL) also registered minor outflows totaling $1.4 million.

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