After months of decline, the cryptocurrency market turned green, with $250 billion inflows in 30 days.
In the crypto money market, where the troubles have been going on for a while, there has been a $ 250 billion inflow to the market due to the increase in purchasing power. The market has turned green. CoinMarketCap data shows that the volume of crypto money, which was $ 911 billion last month, is at the level of $ 1.13 trillion as of today.
250 Billion Dollars Entered the Crypto Money Market in 30 Days
Recently, the US inflation rate for July 2022 was announced. After the inflation came at a more positive level than expected, a positive atmosphere started to blow in the crypto money market. It should be noted that the inflation data decreased from 9.1 percent in June to 8.5 percent. This, in turn, has reduced the FUD in the crypto sector.
As can be seen in the chart, the crypto money market volume has thrown itself above the psychological resistance of $ 1 trillion. In this case, it should be noted that the better-than-expected inflation report has an impact. Volume data soared to the highest level in the past two months as volume exceeded $1 trillion. Although these amounts are far from the $ 2 trillion in the crypto bull we have been living in recently, it is very promising for the crypto money market.
With these data, the market is green. Talking about the fact that the market has just entered an upward trend is still difficult, but it must be said that it looks promising.
As of today, Bitcoin (BTC) is trading at 24,500, which is the highest price in the month after the drop. The situation is similar in Ethereum (ETH). Ethereum (ETH) is trading at the $1,800 band today, which, like Bitcoin (BTC), is the highest price zone after the drop the following month. It is also worth noting that both BTC and ETH are on the rise during the day.
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