Crypto-based Products Lose $528M in a Week: Report
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According to a recent report by CoinShares, there has been a significant decrease in cryptocurrency assets over the past week.
This is largely due about a potential recession in the United States and geopolitical tensions.
The digital asset investment products saw outflows for the first time in four weeks, amounting to $528 million from July 28 to August 3.
CoinShares also reported that this sell-off is believed to be a response to fears of a recession in the US, along with uncertainty in global politics, resulting in a broader market liquidation across various assets.
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