Crypto Market Turns Green with Over $500M Inflows to BTC and ETH ETFs
Main Idea
The crypto market shows bullish momentum with significant inflows into BTC and ETH ETFs, alongside positive developments like the resolution of the Ripple-SEC legal battle.
Key Points
1. The global cryptocurrency market cap rose 3.29% in 24 hours, driven by institutional moves, policy shifts, and ETF inflows.
2. Spot Bitcoin ETFs saw over $280.69 million in net inflows on August 7, with BlackRock’s IBIT leading at $156.64 million.
3. Ether ETFs recorded $222.34 million in net inflows on the same day, led by BlackRock’s ETHA with $103.52 million.
4. XRP surged over 13% after the US SEC and Ripple agreed to dismiss appeals, reducing legal risks for XRP holders.
5. Ethereum’s price rose above $3,900, with expectations of reaching the $4,000 mark soon.
Description
The crypto market rose 3.29% over the last 24 hours, following huge institutional moves, policy shifts and massive inflows in ETFs, showing bullish momentum. The global cryptocurrency market cap on Friday is $3.86 trillion, per CoinMarketCap data . Renewed positive sentiment surrounds the crypto market, fueled by factors like institutional adoption and the recent Trump executive order regarding crypto in 401(k) plans. Crypto ETFs Inflows Are Big Market Drivers – Here’s Why Besides, the US Bitcoi...
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