Crypto Investments See $1.9 Billion Inflows Amid US Fed Rate Cut
Recent data from CoinShares indicates a robust inflow into crypto investments, with Bitcoin and Ethereum leading the charge. Solana stood out with an inflow of over $127 million.
- For the week ending September 19, digital asset products saw inflows totaling $1.9 billion, coinciding with a US Federal Reserve rate cut.
- Solana's weekly inflows reached $127.3 million; Bitcoin and Ethereum recorded $977 million and $772 million, respectively.
- Solana's price is approaching a resistance level of $250, currently trading at $221.79, with a 7.16% decline in the last 24 hours.
- The 30-day growth for Solana is approximately 9.64%, with its 24-hour trading volume increasing by 160.88% to $9.21 billion.
- If Solana surpasses its resistance level, it could potentially reach $500, supported by whale activity and corporate treasury growth.
The US Fed announced a rate cut, which initially caused cautious reactions but was followed by $746 million in market inflows between September 18 and 19. This led to a new Year-to-date high for total Assets Under Management at $40.4 billion, setting the stage to match or exceed the previous year's $48.6 billion inflows.