Recent changes in global M2 money supply have drawn attention from cryptocurrency traders. This article examines the current trends and actions of major investors amidst expectations of market recovery.
M2 Money Supply Records
The M2 money supply in the US, China, and Japan has reached record levels. In Europe, there has been a slight decline, but M2 values remain close to their highs. These data, published in early August, highlighted global liquidity levels. A rise in M2 often indicates an increase in the amount of money circulating in the economy, which can influence the behavior of financial markets.
Arthur Hayes Sells Assets
Arthur Hayes sold significant amounts of ETH, ENA, and PEPE within a short time frame. Data from Lookonchain shows he sold 2,373 ETH, worth about $8.32 million. He also sold 7.76 million Ethena tokens valued at $4.62 million and 3.89 billion PEPE tokens worth around $414,700. These actions occurred amidst price fluctuations in the crypto market. Some observers interpret such sales as precautionary measures ahead of a potential market recovery.
Eric Trump Supports Cryptocurrencies
Eric Trump once again expressed his support for Bitcoin and Ethereum, urging his followers to buy cryptocurrencies on dips. This isn’t his first such statement this year, as the crypto market faced challenges. In his latest post, he highlighted a recent purchase of Ethereum by World Liberty Financial, indicating active engagement in the market from Trump and his family.
With the growth of global M2 money supply and changes in the behavior of major holders, the cryptocurrency market may soon experience new fluctuations. Expectations of recovery underpin the actions of both buyers and sellers in the current circumstances.
