CryptoCompare has released its latest Digital Asset Management Review, a monthly report on the key developments in the global digital asset investment product landscape.
The cryptocurrency market experienced one of its worst crashes since the beginning of the year as almost $1.3 trillion in market capitalization was lost.
Bitcoin fell more than 50% from its all-time high of $64.7k that was reached in April, falling to a monthly low of $31,133. Other major cryptocurrencies, like Ethereum, also crashed, which plummeted in excess of 50% from its all-time high of $4,380, falling to $1,730.
Here are the key takeaways:
- Total AUM across all digital asset investment products decreased 20.2% to $44.7bn.
- BTC lost market share as alternative currencies grew to 31% of AUM.
- Average daily volumes grew 78.7% to $1.34bn.
AUM – Assets Under Management
Since the end of April 2021, the total AUM across all digital asset investment products has decreased 20.2% to $44.7bn.
Bitcoin’s share of AUM dropped by 29.1% to $31.1bn (now 69% of total AUM vs 78% last month) while Ethereum’s share grew 24.8% to $11.2bn (now 25% of total AUM vs 16% last month).
Trading Volumes
Aggregate daily volumes across all digital asset investment product types have increased by an average of 78.7% in May 2021 compared to April 2021. Average daily volumes for May now stand at $1.34bn.
The highest performing product was Grayscale’s Ethereum Classic Trust product (ETCG) with 51.5% returns since April. This was followed by Grayscale’s Litecoin Trust product (LTCN) with 22.6% returns.
BTC-based products experienced heavy losses, ranging from 31% to 39% across the top products. Meanwhile, ETH-based digital asset investment products only experienced minor losses ranging from 0.4% to 5.5%, compared to 30 days prior.
The MVDA index performed similar to Bitcoin-based digital asset investment products with 29.05% in losses. The MVDA index is a market-cap-weighted index that tracks the performance of a basket of the 100 largest digital assets. The index serves as a benchmark and universe for the other MVIS CryptoCompare Digital Assets Indices.
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