Main takeaway restaurants
Why does Crypto have a strong start in October?
An increase in deposits on stablecoins and a record inflow in cryptop funds stimulate the market momentum.
Does Bitcoin lead the current rally?
Yes, Bitcoin performs better than Ethereum and attracts the most attention and capital of investors.
The Cryptomarkt starts in October strongly. More than $ 1.1 billion in stablecoins has been flowed to Binance, giving traders purchasing power.
Bitcoin at the same time [BTC] Restores itself as more coins go to private portfolios.
What further reinforced the positive mood was that the global cryptofonds just saw a record of weekly influx of $ 5.95 billion – especially in Bitcoin and Ethereum. [ETH]. After months of doubt, the momentum could finally shift to the bulls again.
Uptober is on!
According to The Kobeissi letter, Cryptop funds registered a net inflow of $ 5.95 billion, with which she exceeded the previous ATH by more than $ 1 billion.
Bitcoin led the attack by $ 3.55 billion, followed by $ 1.48 billion to Ethereum funds. Interestingly enough, the YTD inflow of Ethereum is now a record of $ 13.7 billion, almost the triple of the total of last year.
Source: X
Other altcoins did not stay behind. Solana [SOL] and that of Ripple [XRP] also had a record inflow of $ 706.5 million and $ 219.4 million respectively.