The crypto industry is known for its sheer price movement volatility, driven mainly by events and liquidity crunches. Since the beginning of the year, there has been a noticeable and consistent outflow of cash from the cryptocurrency market, which is unsurprising.
According to Bitfinex’s latest report, this capital drain was evident in August, as the crypto market saw an exit of about $55 billion in capital from major cryptocurrencies.
$55 Billion Drained In The Past Month
Bitfinex’s analysis, which measured the aggregate realized value metric of Bitcoin (BTC), Ethereum (ETH), and major stablecoins like Tether’s USDT, USD Coin (USDC), BUSD, Dai, and TrueUSD (TUSD), indicates that about $55 billion in capital exited the market in August.
Although the market struggled for most of the first