Why are investors fleeing crypto markets

This is where they're going

Dear Reader,  The numbers don't lie. Digital assets trading volume slipped to a two-year low in August.  Not to mention historic lows in volatility.  Plus… VCs put the brakes on blockchain project funding too. Looks like DeFi is on life support.  Source: VanEck A leading DeFi index played second fiddle to both BTC and ETH. As on-chain activity slowed, the index fell 21%. Total value locked (TVL) fell from $40.8 billion to $37.5 billion in August.  Exchange volume took a big kick in the pants. Declining to $51 billion. About 64% less than in March.  Okay. That's the bad news. What's going on? One… the continuing crisis of confidence across crypto. Popular DeFi protocols like Curve got hacked.  (What else is new?) Millions were stolen and investors don't trust crypto like they used to.  Two… US 10-year treasury bond yields reached the highest levels in 15 years.  Instead of taking it where it counts with their crypto investments… Investors fled to the safety of both treasury bonds and money market funds paying out 5% yields… risk-free.  Be that as it may… Cointelegraph Markets Pro continues to spot events that move crypto prices… and… delivers alerts about underlying coins before they break out. Regards, Max K. Markets Pro Team © 2023 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.