Withdrawals in cryptocurrencies amount to about $500 million

Despite the recent victory against the SEC by cryptographic entities, enthusiasts in the world of cryptocurrencies have withdrawn their funds from their wallets

Over the past few months, the flight of investment capital from crypto funds has been a growing concern in the sector. Indeed, in the last nine weeks, it is estimated that around $500 million has been withdrawn.

According to data provided by CoinShares, a specialized analysis site, this trend of massive withdrawals has continued for five consecutive weeks. In the past week alone, there was an outflow of funds worth $54 million, of which 85 % is attributed to Bitcoin.

These numbers contrast with the recent legal successes achieved by several crypto companies and projects in the face of accusations from the United States Securities and Exchange Commission (SEC).

Despite these legal achievements, the general sentiment among cryptocurrency investors remains predominantly pessimistic regarding the digital asset market.

K. Tovar

Source: Criptotendencia

(Referential image source: Aleksi Räisä, Unsplash)

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