PANews reported on March 3 that according to the latest report from CoinShares, digital asset investment products have seen capital outflows for the third consecutive week, with the outflow amount hitting a record high of $2.9 billion last week, and a cumulative outflow of $3.8 billion in three weeks. Bitcoin was hit the hardest, with an outflow of $2.59 billion last week, while short-selling Bitcoin products saw a small inflow of $2.3 million.

Outflows came mainly from the United States ($2.87 billion), Switzerland ($73 million), and Canada ($16.9 million), but German investors took advantage of the lows and brought in $55.3 million. Ethereum set a record for the largest outflow in a single week, reaching $300 million, while Solana and TON saw outflows of $7.4 million and $22.6 million, respectively.

Sui performed best, with an inflow of $15.5 million, and XRP had an inflow of $5 million. Blockchain stocks were not spared, with an outflow of $25.3 million. CoinShares analysis believes that the Bybit hack, the hawkish stance of the Federal Reserve, and the total inflow of $29 billion in the previous 19 weeks have led to a weakening of market sentiment and triggered some profit-taking.