Kaiko’s August Market Report Kaiko Data – Medium

Data-driven commentary and charts on the biggest events in cryptocurrency markets this month.

Summary

August was characterized by a bullish trend in cryptocurrency markets that propelled most top-ranked cryptoassets to yearly (if not multi-year) highs. Bitcoin briefly touched $12k, Ethereum reached a two-year high above $400, and decentralized finance (DeFi) tokens soared to unbelievable levels. As global economic uncertainty continued, traditional financial actors expressed growing interest in cryptocurrencies, including acclaimed investor Paul Tudor Jones’ praise of Bitcoin as a hedge, public company Microstrategy’s purchase of $250 million BTC, and an SEC filing revealing that Fidelity is preparing to launch a digital asset fund. Ethereum and the DeFi tokens operating on the network closed the month stronger than ever, generating record levels of interest and capital inflow for the nascent ecosystem (and record high transaction fees). Overall, August was bursting with market activity after a prolonged period of abnormally low trading volume and price volatility during the early summer months.

Download the report here.


Kaiko’s August Market Report was originally published in Kaiko Data on Medium, where people are continuing the conversation by highlighting and responding to this story.

—Source link—

What do you think?

Vampires, forks and a food platter DappRadar Blog RSS Feed

6MM+ KuCoin users can begin trading $CKB September 4th Nervos Network – Medium