Crypto Rally Hits 17.6% Growth Amid Rising Speculation and Institutional Support

The crypto market has seen a significant surge in recent weeks, with the total market cap growing by 17.6% to $2.70 trillion, and Bitcoin's price climbing by 24.8% over the last seven days.

This marks one of the best weekly rallies since 2020, according to Binance's monthly report.

One notable change is the increase in equity holders' crypto allocations from 64% to 72%, while their stablecoin allocations decreased by 22%. At the same time, tradfi-perps trading volumes dropped from 40% to 20%, and crypto perpetual volume jumped to $421 billion.

This suggests that investors are adding cash to crypto instead of de-leveraging stablecoins, indicating that they're buying crypto in addition to their equity holdings.