After losing money for a few weeks, people are putting their money back into crypto!
According to CoinShares, a total of $436 million was invested again in cryptocurrencies after a lot of money left before.
Why did this happen?
Some experts believe that people are hopeful the Federal Reserve (a big group that controls money in the U.S.) will lower interest rates soon.
This makes people more willing to invest in things like Bitcoin.
Here’s what happened with the different cryptos:
- Bitcoin got the most money, with $436 million coming in! Before this, Bitcoin was losing money for 10 days straight.
- Short-Bitcoin, which is a type of bet against Bitcoin, lost $8.5 million because people stopped betting it would go down.
- Ethereum didn’t do so well, losing $19 million. This happened because some people worry about how Ethereum is doing after a recent update.
- Solana did great! It had money coming in for four weeks in a row, with $3.8 million in new investments.
People are investing again, but the total trading in crypto is still lower than usual.
But everyone is watching closely to see what happens next…
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