Digital asset market lost $1B in the week of Aug. 15 Digital asset market lost $1B in the week of Aug. 15
The digital asset market saw small outflows of up to $9 million, totaling $1 billion. The current market size is 55% smaller than the year average.
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Updated: Aug. 22, 2022 at 8:27 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Digital asset investment products lost a total of $1 billion in small transactions of up to $9 million between Aug. 15 and Aug. 21, shrinking to 55% off the year average and the second lowest level of 2022, Coinshares’ weekly report indicates.
The majority of the losses came from the U.S., Germany, and Sweden. The countries recorded outflows of $10 million, $2.4 million, and $2.1 million, respectively. Small inflows were recorded from Brazil, with $2.5 million, and Switzerland, with $1.9 million.
Regardless of the inflows, the market fell to its second-lowest level of the year, indicating investors’ low participation level. Last week’s upwards price movement also might have kindled sales from investors looking for short-term gains.
Flows by assets
Bitcoin recorded its third consecutive outflow week, losing a total of $15 million between the 15th and 21st of August. The recorded outflows were $29 million and $21 million for the weeks of Aug. 8 to Aug. 14 and from Aug. 1 to Aug. 7, respectively. On the other hand, Short-Bitcoin recorded minor inflows of up to $0.2 million.
Ethereum, on the other hand, saw a turn in the negative sentiment and recorded inflows of up to $3 million. The asset has been closing the weeks at inflows since mid-June, which could reflect the merge. The nine-week inflows equate to $162 million.
Regarding other altcoins, Cardano recorded a small inflow of $0.5 million, while Solana ended the week with a $1.4 million outflow. Blockchain equities also showed parallelism to the overall outflow of the market, losing a total of $1.6 million.
Flows by region
While the overall market recorded losses, the numbers show different flows to and from exchanges based on their regions.
European exchanges recorded significant inflows totaling $20 million. Exchanges from North and South America, on the other hand, experiences outflows equating to $36 million last week.
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Posted In: Bear Market, Research
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Bitcoin
$98,501.40
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,301.18
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Cardano
$0.93352
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Solana
$255.186
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.