Bitfinex Report: Cryptocurrency Market Outflows Reached $55 Billion in August

ChainCatcher message, according to a report released by the cryptocurrency exchange Bitfinex, the outflow of funds from the crypto market reached $55 billion in August. This analysis is based on the total realized value metric, which measures the realized capital of Bitcoin and Ethereum, as well as the total supply of the top five stablecoins: Tether, USDC, BUSD, DAI, and TrueUSD (TUSD).

Bitfinex stated that based on this metric, the cryptocurrency market lost approximately $55 billion over the past month. The capital outflow has affected not only Bitcoin but also the liquidity of Ethereum and stablecoins. According to its data, August marked the largest monthly closing decline for BTC since the bear market bottom formed in November 2022, with a drop of 11.29%.