Optimism was truly back in the digital assets market in October. Analysts and traders construed the recent fake news-induced market rally as a “dress rehearsal” before the eventual approval of spotIn response to the false alarm, the king coin ascended to $35,000, the highest level since May 2022, per data from
, the average daily volume of digital asset investment products surged by a whopping 44.3% to $230 million. This was the third-highest monthly jump in volumes in 2023.Moreover, the total assets under management for institutional crypto products increased by 6.74% to $31.7 million, snapping a two-month long losing streak.The AUM is a measure of the flow of investor money in and out of a fund and the market value of the underlying asset.
Surprisingly, the subpar performance occurred during the month that saw half-a-dozen Ether futures ETFs, including those by VanEck and ProShares, hitting the market.Solana Positive improvements in its ecosystem, which resulted in price gains, aided in increasing the market worth of SOL-linked products. Indeed,Source: CCDataThe dominant North American institutional crypto market reaped the fruits of the bullish outlook. The U.S., home to some of the biggest crypto asset managers, witnessed a 3.
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