Regulatory Pressure: Crypto Volatility
US regulatory pressure on Binance and Coinbase caused crypto market volatility. On-Chain Realized Losses were relatively quiet at $112M, showing market resilience. US crypto market share dropped from 85% to 70%, suggesting a continued decline. Reduced market liquidity resulted from macroeconomic challenges and scaled-down market making operations. BTC and ETH volatility hit historic lows at 0.016 and 0.019 respectively. Digital asset investment products faced outflows of $39M, with #Bitcoin in focus. Altcoins saw significant outflows, like Algorand (65% of outflow) and Ethereum ($5.9M). Despite low volumes, digital asset products represented nearly 8% of total market volume. Outflows persisted, but some assets had minor inflows or remained stable.
