Crypto Market Outflows Reach $55B in August - Invest in Web 3.0 Now!
Crypto market outflows reached $55B in August as liquidity dwindled — Bitfinex

Capital Outflows in Crypto Industry

According to the report released by crypto exchange Bitfinex, capital outflows in the crypto industry reached $55 billion in August. This figure was determined by analyzing the aggregate realized value metric, which takes into account the combined supply of the top five stablecoins: Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI) and TrueUSD (TUSD).

The analysis revealed that capital outflows were not limited to Bitcoin, but also affected Ether and stablecoin liquidity. Bitfinex noted that isolated events, such as a flash crash on August 17th and Grayscale’s partial legal victory over the Securities and Exchange Commission on August 29th, had a significant influence on Bitcoin prices.

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“We believe that while volatility metrics remain low, the limited liquidity in the market has caused isolated events to have a greater effect on market movements,” said Bitfnex.

The analysis reveals that Bitcoin open interest has outperformed the crypto markets due to increased institutional investment and wash trading on some exchanges. In contrast, Ether futures and options have dropped significantly in 2023 compared to prior years, to $14.3 billion a day, a decrease of almost 50% from the two-year average.

The open interest of a contract, such as Bitcoin futures or options, is the number of open positions. This is a measure of how much money is currently being invested in Bitcoin derivatives.

“The trend seen in the derivatives market, particularly in open interest across both futures and options, reflects these patterns of low liquidity,” wrote Bitfinex.

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