This week, the crypto market has seen notable changes including growth in investments in Ether and the upcoming unlocking of tokens. Elon Musk's initiatives also stand out.
Ether ETFs Reach $13.7 Billion
Ether ETFs have demonstrated steady growth since their debut in the US in July 2024. According to SoSoValue, inflows into Ether funds surged by 44% in August, climbing from $9.5 billion on August 1 to $13.7 billion by August 28. Market participants suggest that increased interest from institutional investors has driven this momentum.
$4.5 Billion in Tokens to be Unlocked
In September, crypto projects plan to unlock approximately $4.5 billion worth of tokens. Tokenomist data indicates that $1.17 billion will come from cliff unlocks and $3.36 billion through linear unlocks. Cliff unlocks tend to impact the market more significantly due to supply shocks.
Elon Musk Initiatives and Lawsuit Dismissal
Elon Musk's attorney Alex Spiro is set to chair a new public company aiming to raise $200 million to invest in Dogecoin. On a different note, plaintiffs voluntarily dismissed their lawsuit against Strategy, the largest player in the crypto treasury market. This court decision may represent a win for crypto companies operating in this space.
The crypto market continues to evolve, attracting new investors and undergoing significant changes both in relation to Ether funding and public figures' initiatives.
