Solana, Algorand and Polygon saw minor inflows last week as money poured out of the broader crypto sector ahead of the U.S. Federal Reserve's Wednesday meeting on interest rates.
Overall, digital asset investment products saw outflows of $72 million in the week ending April 28, CoinShares said in an emailed report, adding that it believed it was a reaction to the likelihood of further interest rate hikes. That's the second week in a row of declines.
Bitcoin, the largest cryptocurrency by market share, saw the majority of outflows, which totaled $46 million. Ethereum experienced the largest week of outflows since The Merge in September, with investors pulling out $19 million.
(by Nathan Crooks)
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