Bitcoin is slowly regaining what it lost over the last week. Its current value is now over 57,000 USD, indicating a 14% increase since August 5th, when its rate dropped to around 50,000 USD. Ethereum, the second-largest cryptocurrency, experienced a similar bounce, climbing over the last three days from around 2200 USD to approximately 2500 USD. DeFiLlama data also point to a mood improvement, indicating that on August 5th a net inflow of funds amounting to 1.2 billion USD was recorded on Binance, the largest cryptocurrency exchange.
According to Richard Teng, CEO of Binance, this significant inflow of capital underscores users’ trust in Binance and their positive outlook on the long-term prospects of the cryptocurrency market, even in the face of recent volatility.
“This was one of the days with the highest inflow of funds in 2024. Despite significant market drops in recent days, this could indicate investor confidence and interest in buying at lower prices when they deem it the right time,” commented the CEO of Binance.
The Binance representative also stressed that the recovery in the market is further confirmed by other indicators such as the price increases of major tokens and increased interest in them.
“According to our internal data, August 5th was also one of the highest trading volume days in 2024,” stated Richard Teng.
Source: https://managerplus.pl/rynek-krypto-byly-spadki-jest-silne-odbicie-11229
