- May 10, 2023
- Posted by: [email protected]
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Bitcoin (BTC) remained stable in April despite recent volatility, while memecoins such as PEPE garnered attention in the crypto market, overshadowing non-fungible tokens (NFTs). The US Securities and Exchange Commission (SEC) Chairman Jerome Powell recently stated that interest rates are unlikely to come down this year, but the market for risk-on assets like crypto has priced in a pivot in the coming months, creating a standoff between markets and policymakers. In the midst of this, it is important to pay attention to the fundamentals that will shape the future of the market.
Cointelegraph Research publishes a monthly Investors Insights Report that explores various topics, including venture capital, derivatives, decentralized finance (DeFi), and regulation. This report is a valuable tool for investors who want to gain a deeper understanding of the crypto industry.
NFT collectibles experienced a major decline this month due to several factors, including the rise of memecoins, which may have absorbed attention and cash inflow from traditional NFT collectors. Moreover, there are concerns that the NFT market will continue to decline due to the diminishing excitement around NFTs and the persistent trend of sellers outnumbering buyers. However, the NFT lending market witnessed a 16.13% increase in new users in April, indicating a niche market that is gaining steam.
Mining stocks have historically been a popular option for investors interested in increasing their exposure to BTC. The mining industry experienced a 12.9% increase in aggregate after lagging behind BTC in the previous month. TeraWulf, CleanSpark, IrisEnergy, and BitDigital were among the companies that recorded strong gains.
The Cointelegraph Research team is comprised of experts in finance, economics, technology, and research who provide accurate and insightful content on the blockchain industry. The team is committed to delivering premier industry reports and analyses by utilizing APIs from various sources to provide accurate information.
The Cointelegraph Research Monthly Trends Report provides investors with valuable insights into the various sectors of the crypto industry, including mining stocks, NFTs, and DeFi, which are crucial for making informed investment decisions in an uncertain macroeconomic environment and a looming regulatory crackdown.
