Coinshars data brings bad news for Ether and Bitcoin investors

There is no good news for the cryptocurrency market, according to data from digital asset manager Coinshars on Monday. Outflow is seen in other digital coins including ether. According to the latest data, Ether Investment Products and Funds posted record outflows in the last week of June, according to the latest data.

Institutional investors pulled in 50 50 million (about Rs 370 crore) from ether investment products and funds. The data show that the ether flowed for one fourth of the week after another. Until 2pm on June 29th The price of ether in India 1.59 lakh. Ether lost about 22 percent of its value against the dollar in June. On Monday, however, Ether rose 5.4 percent to $ 2,091.96 (about Rs 1.55 lakh).

Here Bitcoin products and funds faced external inflows for the seventh week in a row with $ 1.3 million (about Rs 9.6 crore) withdrawn. The outflow of Bitcoin this year has reached about 0 490 million (about Rs 3,640 crore). Bitcoin prices in India June 29 29 (2 pm) IST’s Rs 25.90 lakh. The world’s largest cryptocurrency fell 8.4 percent against the dollar in June. In mid-April, Bitcoin hit an all-time high of $ 65,000 (approximately Rs 48.2 lakh).

Pankaj Balani, Chief Executive Officer of Crypto Derivatives Exchange Delta Exchange, said, “We hope that the integration of Bitcoin will continue in the next few weeks unless a decision is taken. Breaking the critical level of 30,000 (approximately 22.2 lakhs) and challenging the previous cycle to a maximum of ড 20,000 (about Rs. 14.7 lakhs) and placing the classic bull net over those $ 42,000 (about Rs. 31,000) Can be expected to do lakhs).

Overall, crypto investment products saw external inflows for the fourth week in a row with। 44 million (approximately Rs 325 crore). As negative sentiment spread in mid-May, net weekly outflows reached 3 313 million (approximately Rs 2,320 crore) or 0.8 percent of total assets under management.

The crackdown on the sector by China banning bitcoin mining has hurt the sentiment of cryptocurrencies. Also, British and Japanese regulators have independently issued warnings against one of the world’s largest cryptocurrency exchanges. Over the weekend, the UK’s financial regulator said Binance could not conduct any regulated activities. The regulator has issued a warning to customers about this platform.

Japan also issued a similar warning to Binance, saying it was providing crypto exchange services to Japanese customers without articles. Crypto assets under management also dropped about 38 38 billion (about 8 2,82,120 million) in the last week. AUM stood at শেষে 65 billion (about Rs 4,82,620 crore) at the end of April.

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