Bitcoin ETF momentum runs out as crypto market enters summer slump: Report
DeFi and NFTs remain deep in the bear market while crypto stocks see an upside. After June gave Bitcoin (BTC) a boost with BlackRock’s application for spot Bitcoin exchange-traded fund (ETF), July sent its price into a summer slump . Only some altcoins managed to perform well in response to Ripple Labs’ partial victory against the United States Securities and Exchange Commission. XRP (XRP), the most obvious beneficiary, posted a monthly close of +49%. The overall response of market s to the result of the lawsuit was much more muted than many anticipated, as a ruling on XRP’s sales does not easily generalize to other coins and tokens. The SEC is now firmly expected to appeal, and market activity has been generally waning over the summer months. Exploring how the various sectors of the digital asset space have performed in this environment, Cointelegraph Research’s “Investor Insights Report” offers a concise monthly round-up of everything going on in crypto. It dives into venture ca...