Crypto Market Sees "Uptober" Kickoff: Bitcoin Rises 2.07% to $86,500 on Sunday, Ethereum Up 11.05% for the Month
Bitcoin rose 2.07% on Sunday to $86,500, bringing its gain over the past month to 8.57%. Ethereum is currently trading at $2,720, up 11.05% over the past 30 days. Nearly all of the top ten cryptocurrencies by ranking advanced, with altcoins Pump.fun and LayerZero posting gains of 26.2% and 19.8%, respectively. Spot Bitcoin ETFs saw inflows of $31.7 million on Sunday and $102.7 million on Thursday, bringing total inflows this month to $134.4 million. According to Decrypt's analysis, the U.S. Securities and Exchange Commission (SEC) stated eight days ago that token buybacks would not make them securities, lowering the bar for investors to buy into revenue-generating protocols. The analysis also suggested that this rally is more likely driven by crypto-native funds rather than traditional institutional investors.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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