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Trading volumes for crypto products remain low during the ‘summer slump’

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News Tech: Following the pattern of recent weeks, trading volumes decreased to just $1 billion, their second-lowest level this year, or 55% below the annual average, according to the most recent CoinShares data.
Only $17 million was invested into crypto items the previous week, while only $3 million was invested the week before that. According to the research, this indicates minimal investor involvement, and it also states that “the summer doldrums linger for now.”
With $10 million, the United States was responsible for the majority of outflows, followed by Germany and Sweden with $2.4 million and $2.1 million, respectively. On the other hand, Brazil and Switzerland both experienced inflows totaling $2.5 million and $1.9 million, respectively.

Meanwhile, other altcoins experienced only unremarkable inflows. Only Solana stood out, with inflows for the second week in a row amounting to $1.4 million, while inflows for both Cardano and Binance Coin reached $500,000 each.
Their largely positive streak this year intact, multi-asset investment products saw $2.7 million in inflows. Finally, with outflows totaling $1.6 million last week, blockchain equities experienced mild negative sentiment.
The post Crypto Product Trading Volumes Continue Slump During ‘Summer Doldrums’ appeared first on BeInCrypto.

With $15 million in withdrawals for a third straight week, mildly unfavourable sentiment is still having a significant impact on bitcoin-based financial products. On the other side, only small inflows into short-Bitcoin products were observed, totaling roughly $200,000.
In keeping with the shift in opinion, $3 million was invested in Ethereum-based products last week. There has been a $9-week streak of $162 million inflows into ethereum-based products.
This was preceded by 11 straight weeks of inflows, which, when the trend ended in mid-June, totaled $459 million in outflows for the whole year. The paper ascribed this shift in opinion to the Merge’s being more transparent.

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