Despite the weak daily trading performance, there are some signs of the market rebound, at least for bitcoin-based products.
While the cryptocurrency market shows signs of a gradual recovery, bitcoin

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Holding above the psychologically significant $20,000 mark after its initial drop to $17,600 in June, this month continues to set the all-time low average daily cumulative product volume across all digital asset investment products.

According to a CryptoCompare report released Oct. 27, the average daily trading volume of institutional crypto products fell 34.1% to $61.3 million in October. Nearly all products covered in the report recorded significant decreases in average daily volumes, ranging from -24.3% to -77.5 percent.

The bearish trend in day trading is not limited to the recent market turmoil, but extends to November 2021 with the minor exception of May 2022. October was the second month since September 2020 that average daily volumes fell below $100 million.

However, the report traces some optimistic developments in other market markers. Total Assets Under Management (AUM) across all digital asset investment products rose 1.76% from September to $22.9 billion. This was the first AUM increase since July.

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AUMs in trust products, which account for 77.3% of the market, rose 2.34% to $17.7 billion in October, while AUMs represented by exchange-traded funds (ETFs) fell 1.59% to $2. declined to . .21 billion dollars.

Another important indicator is net flows. In October of this year, weekly net flows for Bitcoin-based products recorded an average inflow of $8.37 million in October, and short-term Bitcoin-based products recorded the largest outflow with an average of $5.03 million. With ether, the situation is much worse.

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Products recording the second largest negative net flow of $2.87 million.

At the same time, Ethereum’s native blockchain token ETH posted bigger gains than BTC by Oct. 26, reaching a weekly high of $1,554, up nearly 14%. At the time of publication, the price of ETH was $1,508.

Source: CoinTelegraph