BRC-20 tokens, a new abstraction created on the Bitcoin Ordinals protocol, may also compete for cash inflow from traditional NFT collectibles traders. Memecoins, such as PEPE, may be partially responsible for this, as they absorbed the attention, printing eye-watering gains. Nonfungible token (NFT) collectibles are one of the few sectors that took a major hit this month. Compiled by leading experts on these various topics, the monthly reports are an invaluable tool to quickly get a sense of the current state of the blockchain industry. The report is available for free on the Cointelegraph Research Terminal.įor those keen to gain a deeper understanding of the crypto space’s various sectors, Cointelegraph Research publishes a monthly Investors Insights Report that dives into venture capital, derivatives, decentralized finance (DeFi), regulation and much more. With an uncertain macro environment and a looming regulatory crackdown in the U.S., there are other notable developments that are easily drowned out by these dominant news items. In times like these, it is wise to drill deeper into the fundamentals that will shape future market movements. Chair of the Federal Reserve Jerome Powell publicly states that interest rates are unlikely to come down this year, the markets for risk-on assets like crypto have firmly priced in a pivot in the coming months. However, on the basis of current market sentiment is a standoff between markets and policymakers: While the U.S. The meteoric rise of memecoins, such as PEPE, made headlines, and First Republic, another mid-sized United States bank, went under. After a turbulent month for the crypto industry in March, Bitcoin’s BTCUSD price went sideways in April despite some volatility.
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