The crypto market registered an exit of US$55 million: what is behind that movement

While cryptocurrencies struggle to recover after the significant falls experienced in recent days, the bitcoin maintains its position around the $26,000. This Wednesday, August 23, the largest crypto is listed on $26,513.

All this, in the midst of capital outflows that digital assets that have been experienced recently. In this context, an analysis made by Coinshares concluded that the crypto market registers a capital flight near the $55 million and which started last week, of which the BTC tops the list with about US$42 million in departures.

Cryptocurrencies: what is the capital outflow due to

These movements in the market coincide with the rumors that suggest that Robin Hood is considering the addition of XRPthe flagship coin of the Ripple network.

This potential development is made known after Ripple Lab obtained a partial victory in the lawsuits filed against him for the United States Securities and Exchange Commission (SEC), as explained Samer HasanMarket Analyst at Samer Hasn Market.

In this context, the regulatory and legal scenario continues to be a determining factor in the world of cryptocurrencies. Uncertainty surrounding regulations could continue to undermine institutional investor confidence in these digital currenciesas they warn from Samer Hasn Market.

In addition, the strategists also point out that the crecent concentration of possessions of cryptocurrencies in the hands of a few individuals could undermine trust in these currencies as investment assets.

The sharp fluctuations that these currencies can experience in the event that large investors decide to sell their holdings could increase the perception of risk. As happened last week with a move made by Elon Musk.

In this scenario, it is likely that regulatory and legal developments, especially in the US, will continue to attract the attention of cryptocurrency operators. in the coming weeksconcludes Samer Hasn Market Analyst.