Crypto investment inflows hit $1.2 billion last week, marking three consecutive weeks of positive growth since September 9. This surge comes amid growing optimism in the market, fueled by bullish macroeconomic developments and other value-boosting events in the finance sector.

Additionally, September broke its typical trend of poor performance, creating the strongest starting point for Bitcoin (BTC) and the broader crypto market heading into October.

Crypto Inflows Soar to $1.2 Billion Amid Market Optimism

Digital asset investment products saw inflows of $1.2 billion last week, with Bitcoin leading the charge, recording $1.070 billion in positive flows. Short-Bitcoin investment products also saw inflows, totaling $8.8 million. Meanwhile, Ethereum (ETH) ended a five-week outflow streak, with inflows reaching $87 million, reflecting a resurgence of positive sentiment.

The US leads from a regional standpoint with $1.17 billion, and the latest CoinShares report attributes inflows to positive economic data in the country.

Read more: How to Protect Yourself From Inflation Using Cryptocurrency

As BeInCrypto reported, the Federal Reserve’s 50 basis point (bps) interest rate cut in September sparked a wave of liquidity, benefiting riskier assets like Bitcoin. Combined with cooling inflation, markets are now expecting further rate cuts by the end of the year.

The report also highlights that the approval of options trading in the US has added momentum to crypto investment inflows. BlackRock’s spot Bitcoin ETF recently secured options trading approval from the US Securities and Exchange Commission (SEC), a development expected to bring more liquidity and enhance market stability.

It also opens the door for potential approval of Ethereum ETFs, a possibility widely discussed.

“Digital asset investment products saw a third consecutive week of inflows totaling $1.2 billion, which we believe is a reaction to continued expectations of dovish monetary policy in the US. The approval of options for certain US-based investment products likely boosted sentiment,” an excerpt in the report read.

Indeed, there is a generally positive sentiment in the crypto market. This saw BlackRock’s ETHA join the $1 billion ETF club in two months. It also catapulted Bitcoin and Ethereum ETF inflows to multi-week highs amid frothing hope for a market-wide recovery.

Bitcoin Scores Best September Close Ahead of Expected Bullish Q4

Elsewhere, hedge funds are predicting a Bitcoin rally in the fourth quarter (Q4) following the cryptocurrency’s strongest September close on record. Historically, Bitcoin has struggled in September, often posting negative returns. However, this year, it defied expectations, rising by around 20%.

ZX Squared Capital forecasts that the upcoming US elections will further boost Bitcoin, regardless of the outcome. The hedge fund argues that both political parties have failed to address rising national debt and deficits, a factor it believes will strengthen Bitcoin’s position post-election.

Similarly, analyst Crypto Rover expects Bitcoin’s best price performance to occur in Q4, citing historical patterns following halving events. 

Read more: What Happened at the Last Bitcoin Halving? Predictions for 2024

Indeed, Bitcoin has a history of rallying in Q4, especially in halving years like 2020. With traders and investors holding out for a potential all-time high in 2024 or soon after, this optimism could attract more retail interest, spark media coverage, and drive greater adoption.

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

Here’s what happened in DePin sector recently: Theta launched the mobile version of its EdgeCloud Node, expanding its network to Android devices. Helium formed a partnership with the University of Southern California (USC) Trojans, increasing its visibility at major sporting events. Meanwhile, Anyone announced its Incentivized Testnet, offering token rewards to relay operators for supporting its infrastructure.

Theta Releases EdgeCloud Node for Android Devices

In a important step for Theta, the mobile version of the Edge Node for Android devices launched on September 25. This update expands Theta EdgeCloud’s network, which already includes over 30,000 desktop nodes, to potentially tap into the computing power of 3.9 billion Android devices worldwide. Now, Android smartphone users can contribute their GPU power to Theta’s EdgeCloud network and earn TFUEL tokens as a reward.

“For the first time ever, the Theta team has implemented a video object detection AI model (VOD_AI) that runs on consumer grade Android mobile devices, delivering true computation at the edge and enabling unparalleled scalability and reach. VOD_AI is a computer vision technique that uses AI to analyze video frames to identify objects by scanning video frames, looking for potential objects and drawing bounding boxes around them. This process is similar to how the human visual cortex works,” the team shared.

Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

Users can also set their Edge Node to run only when the device is on WiFi and charging, like overnight. With thousands of Android devices participating globally, Theta can handle large computing tasks, such as video processing, around the clock. For example, if 30,000 devices each work for 8 hours, they provide 240,000 hours of computing power in a day.

The system splits large videos into 14 million small parts and distributes the work across devices, allowing it to process even complex, high-resolution videos efficiently. This brings a new level of power to edge computing.

Helium Partners with USC Athletics

Helium Mobile has officially partnered with the University of Southern California (USC) Trojans, marking a new collaboration for the 2024-25 sports season. As part of this partnership, Helium Mobile will feature prominently at USC football and basketball home games, starting with the highly anticipated USC vs. Wisconsin game on September 28, 2024, where Helium Mobile will serve as the game sponsor.

Fans attending these games can expect Helium Mobile branding throughout the stadium, along with interactive activities, giveaways, and promotions aimed at engaging USC supporters. The partnership also includes special events like student section takeovers and exclusive fan experiences.

“We are proud to support the USC Trojans. Sports bring people together, and we’re excited to have USC as part of the Helium Mobile family. We know how important it is for students, student-athletes, faculty, and alumni to have reliable and affordable cell phone service,” Helium Mobile COO Frank Mong said.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Helium Mobile, known for its $20 per month phone plan with unlimited talk, text, and data, will use the opportunity to introduce the Helium Network to the USC community.

With a focus on providing reliable connectivity for popular apps like YouTube, TikTok, and Instagram, the network promises to meet the needs of students and fans who rely on their phones throughout the day. Helium subscribers also have the chance to earn rewards for supporting the network’s growth.

Anyone Prepares for Incentivized Testnet

The Anyone Incentivized Testnet and Dashboard will go live soon. This launch will transition the network to an incentivized phase, allowing any relay operator to earn mainnet ANYONE tokens through the distribution system.

Initially, the distribution rate will be set at 25% of the final target. Operators will be able to connect to the dashboard, track rewards distributed on Arweave Layer-1, and claim them on the Sepolia Testnet. Mainnet tokens will then be airdropped weekly on a 1:1 basis with the testnet rewards redeemed.

The team will test and audit features throughout the testnet period, then integrate them into the rewards system. With updates like family requirements, geolocation multipliers, and mainnet ANYONE locking, the rewards will increase as the protocol grows.

Read more: Top 12 Crypto Companies to Watch in 2024

While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.

Solana’s (SOL) price has struggled to break above $160 over the past two months, repeatedly failing to sustain momentum. However, many in the market believe that “Uptober” could bring a reversal. 

The expected bullishness could drive SOL up by 20%, potentially pushing it closer to the $200 mark, a significant psychological barrier.

Solana Has a Rally to Look Forward To

Solana’s price is dependent on a ton of factors, but the biggest of them are the broader market cues. In an interview with BeInCrypto, Bill Qian, Chairman of Cypher Capital, discussed how the lack of liquidity is a major concern.

“Solana has been stuck in a consolidation phase between $186 and $120, largely due to insufficient liquidity in the broader whole cryptocurrency market. While the Fed’s rate-cutting cycle may provide some additional liquidity in October, this alone may not be enough to break Solana out of its range. A more significant catalyst would be the onset of an altcoin season, where speculative funds and attention shift from other chains to the Solana ecosystem. If capital and attention from other Layer 1 chains are absorbed into Solana’s vibrant DeFi, NFT, and gaming sectors, the possibility of breaking out of its consolidation range increases significantly,” Qian told BeInCrypto.

Matt Mena, Crypto Research Strategist at 21.co, in an interview with BeInCrypto, expanded further on the potential of a rally arising from the development of the Solana chain as well as macro-financial market cues.

“Solana was on track to retest the $200 level before the Japanese Yen Unwind Trade and other adverse macro catalysts disrupted the market. However, with the Federal Reserve expected to continue cutting interest rates, including two more reductions projected before year-end, a renewed risk-on sentiment could bring liquidity into the market, creating a more favorable environment for risk assets like Solana.

Furthermore, the recent launch of the Frankendancer client on mainnet and the anticipated 2025 launch of Firedancer, which has achieved over 1,000,000 tps on testnet, represent significant technical advancements that reinforce Solana’s standing as a leading high-performance Layer 1 blockchain. Firedancer is expected to boost Solana’s throughput and enhance the network’s validator client diversity, significantly improving its resilience against attacks and bugs. These upgrades could reignite investor interest and position Solana as a strong contender for a breakout, making a retest of the $200 level increasingly likely,” Mena told BeInCrypto.

Furthermore, the macro momentum for Solana is showing positive signs. The Moving Average Convergence Divergence (MACD) indicator suggests that bullish momentum has been building since late September. This momentum is expected to last for 42 days, giving SOL enough room to rise significantly in October. 

Historically, when this kind of bullish momentum takes hold, Solana experiences sustained upward movements. If this trend follows previous patterns, SOL could rise to $186 by the end of October, providing a strong recovery opportunity for investors.

Read more: Solana vs. Ethereum: An Ultimate Comparison

SOL Price Prediction: For the Better or for the Worse?

Currently, Solana is trading at $155 and is testing this level as a support. The key barrier remains $160, a resistance that has held strong for the past two months. If Solana manages to close above $160, it will be a significant achievement, indicating a potential bullish breakout.

Solana could rally toward $186 if this breakout occurs, a level last tested in August. Breaching this resistance could trigger a rise to $200, a critical milestone for SOL. This would represent a 20% increase, aligning with the overall optimistic sentiment surrounding the token in October.

Read more: Solana (SOL) Price Prediction 2024/2025/2030

However, failure to break the $160 resistance could lead to a massive pullback. In such a scenario, Solana might drop to $138, retesting this lower support level and invalidating the bullish outlook for the token.