- Trading activity spiked across digital asset investment products during the week ending September 1, according to the latest Digital Asset Fund Flows report from CoinShares, but the increase in volume had little impact on the cryptocurrency landscape as prices continue to trade sideways with a downward tilt.
“Despite little activity on flows, trading volumes were much higher than average, totaling US$2.8bn for the week, 90% above the YTD average,” said James Butterfill, head of research at CoinShares. Solana also experienced its ninth consecutive week of outflows with $0.7 million exiting these products. Despite this string of outflows, the year-to-date inflows for Solana stand at $26 million, which suggests “it is the most loved altcoin amongst investors at present,” Butterfill said.
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What's in store for the crypto market this SeptemberBitcoin prices (BTC-USD) are down more than 10% over the last month. Yahoo Finance Senior Reporter David Hollerith notes that September tends to be a heavier trading month for bitcoin than August. He also notes that the SEC's response to a judge's ruling on converting the Grayscale Bitcoin Trust (GBTC) to an ETF likely won't happen until October.
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