The CoinShares weekly report showed that in the period from 19 to 24 August 2024, capital inflows into cryptocurrency funds increased to $533 million, and trading volume totaled $9 billion. According to experts, this figure was the largest inflow in the last five weeks. They also note that the sharp increase can be attributed to statements by US Federal Reserve Chairman Jerome Powell. In particular, he admitted that the first interest rate cut could take place as early as September 2024.
It is worth noting that for the third week in a row, investment products based on digital assets have been showing positive dynamics. As for the breakdown of data by asset, Bitcoin-based products are once again in the lead with an inflow of $543 million. Ethereum funds saw outflows of $35.7 million. In terms of regions, the situation is as follows: The United States, Hong Kong, Switzerland, Brazil, Canada, and Australia received capital inflows, while Germany and Sweden experienced outflows.
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