Cryptocurrencies continue to record collective gains in mid-day trading on Wednesday, August 13. Ethereum leads the gains, approaching its previous record highs set in November 2021, amid increased risk appetite in the markets and rising expectations of a US interest rate cut following mixed inflation figures.
Altcoins have been leading the way since the beginning of the week, with the exception of Bitcoin, with positive inflows increasing. Ethereum has so far recorded gains of more than 30% since the beginning of the week, with inflows reaching $520 million on Sunday alone. It is approaching the $2 billion mark in weekly inflows for the first time.
In a related development, Bullish, the owner of the digital asset trading platform Coin Desk, raised $1.1 billion in its initial public offering after pricing its shares at a level above the top of the announced price range. The company announced that it sold 30 million shares on Tuesday at $37 per share. The combined market capitalization of the cryptocurrency market, according to Coingecko, which includes more than 17,000 cryptocurrencies, declined by approximately 2.8% today, Wednesday, to $4.19 trillion, with Ethereum accounting for 13.5% of the market capitalization following recent inflows.
Bitcoin is trading at $120,505, up approximately 1.83% in mid-day trading, with its market capitalization rising to $2.398 trillion. Ethereum, the second-largest cryptocurrency, is up more than 10%, trading at $4,690,000 with a market capitalization estimated at $566 billion,Standard Chartered expects Ethereum to surpass a record high of $4,866 in the third quarter of this year and reach $7,500 by the end of the year, compared to a previous forecast of $4,000 and $12,000 next year.

approaching the $4,628,000 level recorded in November 2021.
XRP, or Ripple, maintains its third-largest position in terms of market capitalization, up approximately 4.50% today, trading at $3.28 with a market capitalization estimated at $195 billion. Dogecoin is up 11.19% today, trading at $0.2476, with a market cap of $37 billion. Cardano is up 13.40%, trading at $0.8796, with a market cap of approximately $31 billion. Solana is up 15.75%, trading at $202, with a market cap of $109 billion. TRON is up 4%, trading at $0.3581, with a market cap of $33 billion