On June 16, cryptocurrency prices were in the red. Bitcoin’s current price is $39,991.13.
The cryptocurrency market is down 1.11 percent, according to Coinbase.
This is despite cryptocurrency funds and investment products seeing outflows for the second consecutive week. Data from digital asset manager CoinShares revealed that ether posted record outflows while institutional investors took a step back. For the week ended June 11, total crypto outflows reached $21 million
Data showed that Ether, which is the token used in Ethereum’s blockchain, saw its largest outflow of $12.7 million last week. This token is one of the best performers this year. CoinShares data revealed that Bitcoin outflows slowed to $10 million last week, a significant decrease from the $141 million record week.