Binance’s monthly report suggests the crypto rally is off to a good start.

From a technical standpoint, the total crypto market cap grew by 17.6% to $2.70 trillion, with Bitcoin’s [$BTC] price climbing by 24.8% during the last seven days, marking one of the best weekly rallies since 2020.

But one crucial change stands out. As the chart below highlights, equity holders increased their crypto allocations from 64% to 72%, while also decreasing their allocations to stablecoins by 22%. At the same time, a TradFi-perps share of trading volumes decreased from 40% to 20%, while crypto perpetual volume jumped to $421 billion in the week ending the 23rd of August.

This suggests that investors are adding cash to crypto as…