Donald Trump's cryptocurrency platform posted a $2.2 billion surge in inflows, fueled by optimism about the Republican candidate in the upcoming US election.
With Trump having a 62.1% chance of winning compared to Kamala Harris at 37.8%, investors are betting on the possibility of better crypto markets if Trump takes over the administration.
Inflows were dominated by investment products Bitcoin, which recorded an addition of $2.1 billion, followed by Ethereum with $58 million.
The US market saw inflows of $2.3 billion but some regions such as Canada and Switzerland recorded outflows due to profit-taking activity after recent price increases.
Despite the positive outlook, billionaire Mark Cuban criticized the Trump campaign, claiming it has shifted focus to Elon Musk, as well as voicing concerns about the reliability of the opportunity at Polymarket.
Cuban noted that the uncertainty in this betting data may be due to the high participation of foreign investors compared to Americans, which is driving this increase.
Despite the criticism, market sentiment continues to rise on hopes for better crypto regulatory conditions under the Trump administration.
