- The market capitalization of cryptography reaches 4.1 billions of dollars, exceeding large technological companies.
- ETF entries were among the highest ever recorded.
- The markets are betting on a drop in rate of the September Fed.
The cryptography market is now worth more than Microsoft or Apple.
A weekend rally continued in the total market value of $ 4.1 billions of dollars at a new summit of all time.
Although this figure extends over thousands of digital assets rather than a single company, the milestone is always a clear example of the measure to which the sector has arrived.
Almost all major tokens are in green, but the spotlights are on Bitcoin and Ethereum.
Bitcoin jumped 4% over the weekend at $ 122,200 Monday morning, UK time, which left it less than 1% timid to overshadow a summit of all time in July of $ 123,200.
Ethereum has climbed to $ 4,350, its highest price since 2021 Bull Run which culminated at $ 4,850, which placed it at around 12% below its top of all time.
The rally has come from new policy changes, renewal funds negotiated on the stock market and growing bets on American rate decreases inject new momentum in the best cryptocurrencies.
Key engines
Three major forces are at the origin of major cryptocurrencies such as upper Bitcoin and Ethereum, according to analysts.
The first is Donald Trump’s executive decree opening up 401 (K) retirement plans for cryptographic investments. With more than 12 billions of dollars in American retirement assets, even a modest allowance could result in hundreds of billions of fresh purchase.
“This can be one of the most loaded moments of Bitcoin and the Crypto path to the consumer adoption,” said theodorou, co-founder of Coinstash, in the comments shared with DL News.
Supported retirement funds could “expand adoption, help mitigate volatility and integrate the crypto more deeply into traditional financial infrastructure,” added Theodorou.
The second is the return of ETF entries. Bitcoin funds have experienced eight weeks of net entries in the last nine, adding about $ 10 billion during this period, or almost 20% of the $ 54 billion that they have attracted since their launch in January 2024.
The Ethereum funds are also quickly traveling, with $ 460 million flooded in the ETHER SPOT Ether on Friday only, the fourth largest day recorded.
The president of the ETF store, Nate Geraci, noted on X that “eight of the 10 best days of Illher, including the first five, occurred during the last month.”
Finally, a softer macro backdrop feeds the cutting betting betting in the United States.
“The lower economic data than expected of the United States has stimulated the beliefs of investors according to which the Federal Reserve will reduce the interest rates of 25 basis at its September meeting,” said Simon Peters, Crypto analyst of Etoro, in the comments shared with DL News.
He added that this could “lead to additional tail winds at the prices of cryptocurrencies and increase total market capitalization”.
The term markets now see 88% of a reduction in the federal reserve in September, a change recalling the “rush” of drop in rates from the end of 2024 which doubled the Bitcoin price in just four months.
Cryptography market movers
- Bitcoin has won 2.6% in the last 24 hours and is negotiated at $ 121,285.
- Ethereum is up 1% during the same period at $ 4,255.
What we read
Kyle Baird is the editor of the DL News weekend. Do you have a tip? Email to kbaird@dlnews.com.
