Twice as many cryptocurrency hedge funds
A flash crash in cryptocurrency value has not prevented the emergence of new hedge funds. The Autonomous NEXT research shows that their amount has increased twice in the past four months, according to Reuters.
The report states that there are 226 hedge funds on the cryptocurrency market now. By the way, only 110 similar organizations operated in October; 55 establishments were available in August; and 37 funds worked in January.
The overall volume of assets grew from 3.5 billion to 5 billion dollars in four months.
Nevertheless, the drop in the rate of key digital currencies and the total capitalization had a negative impact on funds. According to Eurekahedge portal, hedge funds faced 4.6% of loss in January. Besides, a share of their profit reached 1478% previous year.
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