Since the beginning of 2024, bitcoin (BTC) has grown by about 22%. On Thursday, February 15, its price reached $52,000, and the cryptocurrency market capitalization is close to $2 trillion.
Ether (ETH) rose to its highest level since the Terra ecosystem crashed in May 2022. The ETH exchange rate has strengthened to $2778 today.
Zach Pandl, a top management representative of Grayscale Investments, said on Bloomberg TV that the rise in the value of digital currencies was the result of institutional capital entering the asset.
Since January 11, spot crypto ETF funds have become available in the U.S. market, allowing traders to enter the digital currency without directly purchasing it. The capital inflow into such funds amounted to about $3.9 billion over the last month.
Santiment reported last week that after bitcoin climbed above $50,000 most of the addresses on the network began to profit.
The situation is similar for holders of ether and XRP.
More than 90% of BTC investors are now making profits.
More than 85% of ETH wallets and 80% of XRP traders are also in a favorable financial position.