A hawkish-than-expected FOMC meeting drove investors to scale back their exposure to fixed-supply assets, which in turn resulted in digital assets investment products seeing outflows of $600 million.
Ethereum-based investment products, on the other hand, recorded inflows of $13.1 million over the past week. Altcoins also followed suit during the same period. LIDO and XRP, too, saw $2 million and $1.1 million, respectively, during the same period. Meanwhile, investment products designed for Litecoin and Chainlink attracted $0.8 million each.
Despite the moderately positive sentiment surrounding investment products based on altcoins, trading volume was low, with $11 billion for the week, as compared to the $22 billion weekly average this year. However, it is important to note that the figure was still higher than the $2 billion a week observed last year.Additionally, the US bore the brunt of the outflows for the week, recording $165 million. This negative sentiment extended to Switzerland, which experienced $23.