Research Summary
The report discusses the week-over-week price changes in the crypto market, the impact of political changes on the crypto industry, and the key takeaways from the ETH CC 7 event in Brussels. It highlights the potential of Kamala Harris’s nomination for the Democratic party and the implications for the crypto industry.
Key Takeaways
Week-over-Week Price Changes
- Positive Momentum in Crypto: The report indicates a positive week-over-week price change for the Bloomberg Galaxy Crypto Index (BGCI), Bitcoin (BTC), and other cryptocurrencies. The BGCI saw a 15.3% increase, while Bitcoin experienced an 11.2% rise. The report suggests that the crypto industry is gaining momentum despite political changes.
Political Impact on Crypto
- Political Shifts and Crypto: The report discusses the potential impact of President Biden’s withdrawal from the U.S. Presidential race and Kamala Harris’s likely nomination. It suggests that a Trump presidency would be viewed as pro-crypto, but even if Democrats win, the fact that it will not be Biden is also seen favorably. The report indicates that the crypto industry has already won, regardless of the election outcome.
ETH CC 7 Event
- Insights from ETH CC 7: The report shares insights from the ETH CC 7 event in Brussels, noting a doubling in size from the previous year and a shift in attendee demographics. The event saw a higher percentage of attendees in Business Development and Marketing or investors, mostly from Europe and Asia. The report also highlights the emerging narratives of decentralized AI, stablecoins, and DePIN.
Market Trends
- Market Rotation: The report notes a large rotation out of large-cap tech stocks and into small/mid-cap names. This shift is expected to benefit small-cap tech stocks and crypto.
Future Outlook
- Future of Crypto: The report suggests that the momentum is on the crypto industry’s side, with the launch of the ETH ETF and the increasing prominence of crypto on the main stage.
Actionable Insights
- Monitor Political Developments: The report suggests that political developments, particularly the U.S. Presidential race, could have significant implications for the crypto industry. Stakeholders should closely monitor these developments and their potential impact on the crypto market.
- Consider Market Rotation: With the noted rotation out of large-cap tech stocks and into small/mid-cap names, stakeholders should consider this trend when making investment decisions.
- Stay Updated on Industry Events: The report highlights the importance of industry events like ETH CC 7 in shaping market trends and narratives. Stakeholders should stay updated on these events and the insights they offer.
