August Monthly Report: Grayscale Win Temporarily Stops the Tailspin
Traders were rejoicing in the final week of August after the triumphant victory over the SEC, triggering optimism that coins may soon gain significant exposure via several launched ETF's. We touch on this more and the crowd's reactions to it in this recently posted Santiment Insight.
For now, though, it appears as though prices have settled back down and dropped right back to where they started before the +7% Bitcoin price surge back on August 28th. If prices fall further from here, many will attribute the Grayscale news as a potential 'buy the rumor, sell the news' event.
As for the month of August, it was quite the bloodbath when looking at market cap returns as a whole. After all the ups and downs, BTC declined -13.1%, XRPL gave back much of its great summer gains falling -27.5%, Litecoin's disappointing
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