The crypto sector as a whole saw a third consecutive week of outflows amounting to US$79 million last week in what is now the longest bear run in outflows since February 2018, CoinShares said.
Bitcoin on Monday hit a two-week low of US$31,700, undermined by China’s expanding crackdown on bitcoin mining.
Ether, the token used for the Ethereum blockchain, saw minor outflows of US$1.9 million last week, after posting outflows of US$14.6 million the previous week.