Cardano, Polkadot saw an embarrassing influx while AuM touched his toes.

The cryptocurrency remains bearish in light of the massive bloodshed following the dramatic collapse of the stablecoin TerraUSD. This sharp decline has sparked sell-offs and confusion in the cryptocurrency market. Despite the shocking turn of events, investors have maintained some confidence in digital assets.

Reportedly, digital asset investments saw a record weekly inflow of $274 million over the period May 13th.

change continues

Digital asset products suffered heavy losses and did not reciprocate similar narratives. Coinshares’ recent Digital Asset Fund Flow Weekly Report highlighted This sad scenario. The cryptocurrency market was under general pressure last week as digital asset investments recorded a net outflow of $141 million.

Source: CoinShares

Continued volatility has led to panic sales, but some investors see the decline as an opportunity. The overall sentiment is mostly bearish. CoinShares head of research, James Butterfield, shared the following geographic insights:

“There was a total outflow of $154 million from the United States, while there was an inflow of $12.4 million from Europe. Total Assets Under Management (AuM) is now at $38 billion, the lowest since July 2021.”

But what about coins?

Well, BTC, the star of previous reports, has fallen miserably. After the previous week of strong inflows, Bitcoin funds have failed to maintain momentum. Last week’s outflow totaled $154 million, while the short bitcoin saw a total outflow of $1.1 million.

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Source: CoinShares

Still, there is something to be happy about. Annual cumulative and monthly cumulative flows remain net surplus of $307 million and $187 million, respectively.

Investors also opted for a multi-crypto investment product last week instead of a single crypto-focused product. Butterfield famous,

“Multi-asset (multi-cryptocurrency) investment products remain healthy, with a total inflow of $9.7 million last week. Inflows to date represent 5.3% of AuM (US$185m). The outflow of investment products is only two weeks this year, which is much lower compared to similar products.”

Investors felt that multi-asset investments were safer compared to single-line investments during periods of high volatility. In addition, there has been some influx across the broader altcoin category. Altcoins like Cardano and Polkadot each saw inflows totaling $1 million.

So, needless to say, extreme volatility following the collapse of the Terra ecosystem has triggered an ongoing scenario in the market.

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