Bitget protection fund averaged $382M in August
- —Fund's August average valuation was $382 million, peaking at $441.5 million on August 27
- —Monthly low was $345.3 million on August 1, with the fund holding above $300 million
- —Fund reserves are backed by 5,500 BTC
- —Bitcoin rose from $62,773 to $78,553 over the month, more than 25%
Why it matters: The fund's rising valuation reflects Bitcoin's appreciation but does not change the market backdrop.
Source: Cryptopolitan