Eurozone M3 money supply rises 3.5% year-on-year in August

M3 growth matching consensus and edging up only marginally from July suggests broad liquidity in the euro area is neither accelerating nor tightening, which matters for the ECB's read on underlying inflation pressure as it weighs its next policy step. For crypto and RWA markets, euro-area money growth is a second-order input at best, far less directive than dollar liquidity or rate expectations, so the practical signal here is limited. The open question is whether this modest upward drift persists in coming months, or proves a one-off.