Crypto Outflows: Bitcoin, Ethereum, and Solana Bleed, XRP Bucks Trend
The cryptocurrency space has experienced a tumultuous week, with outflows hitting $1.94 billion and pushing the four-week outflow to $4.92 billion. This huge figure underscores the complexity and volatility of the digital asset industry.
Bitcoin and Ethereum, typically considered the bellwethers of the market, saw significant negative flows, although they displayed notable resilience towards the weekend. Meanwhile, a contrarian view emerged in the altcoin market- Solana faced notable losses, while XRP bucked the trend with a substantial influx of capital.
XRP Sees M in Weekly Inflows While Crypto Market Bleeds
According to the weekly CoinShares report, the crypto market has seen massive outflows over the past week. Crypto investment products in total saw a substantial negative flow of $1.94 billion, marking the third-largest outflow since 2018. With this week’s $1.94 billion outflow, the total figure over the past four weeks has now reached a staggering $4.92 billion.
This high is surpassed only by March 2025 and February 2018, with assets under management (AuM) declining 36% due to the combined effects of outflows and price movements. Nevertheless, year-to-date inflows remain robust at $44.4 billion. The last trading day of the week brought a glimmer of hope, with a modest $258 million inflow, marking a welcome respite after seven consecutive days of outflows.
Significantly, Bitcoin bore the brunt of last week’s outflows, with $1.27 billion withdrawn, but staged a significant rebound on Friday with $225 million in inflows. Ethereum followed suit with $589 million in outflows, representing a 7.3% dip in AuM, though it managed a modest recovery with $57.5 million in inflows on Friday.
Solana also saw a substantial outflow of $156 million, whereas Ripple’s XRP tokens defied the broader negative trend with $89.3 million in inflows. Another major asset that showed resilience is Short Bitcoin, which saw $19 million in inflows in the last week and a massive $40 million over the last three weeks. This represents a 23% AuM.
This increased bullish sentiment surrounding the XRP token coincides with the recent shortage in the altcoin’s exchange supply. As revealed in a previous report, more than 149 XRP tokens were removed from CEXs in a single day.
Crypto Prices Plummet: Is Another Major Crash on the Horizon?
The digital asset industry’s weekly outflows coincide with the broader negative trend of the crypto market. Although the market exhibited strong signs of recovery after the largest October 11 crash, the market is now trading in the red.
Recently, the digital asset market plunged to nearly $2.5 trillion, with cryptocurrency prices witnessing losses severe than that of the 1011 crash. Although the market has seen a marginal increase of 0.15% over the last 24 hours, the market cap is still below the significant $3 trillion range. This underscores the prevailing negative sentiment, where BTC, ETH, and other prominent tokens are taking heavy plunges.
Despite the overall positive investor sentiment surrounding the XRP token, the altcoin price is down. As of press time, XRP is valued at $2.05, with a 9.4% decline in a week, and 19% in a month, but a marginal 1.4% surge in a day.
At the same time, BTC is down by 1%, 9.8%, and 23% in a day, week, and month, respectively. ETH is also showing a similar downward trend, which sparks speculations of a sustained negative trend and a more severe market crash.
