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Increase in the outflow of cryptocurrency


Bitcoin has reached its highest levels after two weeks. The price of bitcoin was up by 3% trading at $40,293. Ether rose about by 4% increasing its value to $2,600. Dogecoin slightly rose by 0.7% trading at $0.32. Bitcoin rose above $41,000 on Monday from $35,000 on Sunday after Elon musk tweeted that he would resume allowing bitcoin transactions when miners who verify transactions use renewable energy. Total crypto outflows hit $21 million by June 11. Since mid-May, total outflows reached $267 million representing 0.6% of total Assets Under Management(AUM). Last week, Ether has shown the largest outflow of $12.7 million. Trading activity in bitcoin products rose 43% from the previous week.

Source: LiveMint

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