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A report shared by CoinShares reveals that last week, the largest top market cap cryptocurrencies faced massive withdrawals initiated by investors in light of the uncertainty that has been dominating the market recently.
Bitcoin, the world’s flagship cryptocurrency, has suffered the biggest outflows, then followed ETH and SOL. But there was one top-five cryptocurrency that managed to survive this bloodbath and surpass the giants.
Gamza KhanzadaevXRP beats BTC, ETH and SOL
The CoinShares report stated that digital asset products have been hit by strong outflows for the fifth week in a row, thus bleeding heavily over the last 17 consecutive days. This is a record for the longest running outflows over the past 10 years – since 2015.
The two largest cryptos, Bitcoin and Ethereum, have lost $978 million and $175 million as investors withdrew their funds from these digital assets. Those losses were mainly outflows from spot Bitcoin ETFs – BlackRock’s IBIT lost $401 million, Fidelity ETF lost $317 million and 21Shares AG ETF said goodbye to $534 million.
Solana lost $2.2 million, while Ripple-affiliated XRP coin and ADA saw inflows. XRP beat ADA with $1.8 million versus $0.2 million, respectively.
Overall, a whopping $1.7 billion were lost last week. Thus, the total losses over the last five weeks constituted $6.4 billion.
Bitcoin alone has lost $5.4 billion over the past five weeks.
Yuri MolchanStrategy adds 130 BTC to its half-million BTC stash
Bitcoin evangelist and cofounder and executive chairman of Strategy Michael Saylor announced today that his company has taken advantage of the current Bitcoin dip and purchased an additional 130 Bitcoins, adding them to its already tremendous stash.
Strategy spent roughly $10.7 million on that amount of crypto, buying it at approximately $82,981 per Bitcoin. Thus, Saylor’s company now holds a total of 499,226 BTC on its balance sheet worth roughly $33.1 billion.
Thus, Strategy’s Bitcoin holdings surpass those of the U.S. and U.K. governments. The U.S. holds 198,109 BTC worth $16,928,463,649.57, while the U.K. owns 61,245 BTC valued at $4,055,461,003, according to the Arkham Intelligence data.
The infamous North Korean hacker team known as Lazarus Group has recently become the third largest state owner of Bitcoin, boasting a bag of 13,518 BTC, which is the equivalent of $1.16 billion, per the same data source.
Vladislav Sopov
Dan Burgin