Tide Capital Report: ETFs, U.S. Election, and Meme Coins
Tide Capital, a research-driven digital asset investment and trading firm, has released a report highlighting the current trends in the cryptocurrency market. According to the report, spot ETFs continue to bring incremental funds to the market, with BTC spot ETFs seeing a slowdown in net inflows but still maintaining an upward trend.
The report also mentions that ETH spot ETFs are expected to boost the market, with the recent approval by the SEC leading to a surge in ETH prices. Additionally, the upcoming U.S. election in November is expected to further boost crypto assets, as both the Trump and Biden campaign teams are actively embracing cryptocurrencies to gain support from young voters.
Altcoins, on the other hand, are exhibiting significant PvP characteristics and are lagging behind BTC and ETH in performance. The report suggests that only when BTC and ETH break through historical highs can the dilemma of altcoins be resolved.
One interesting highlight from the report is the rise of meme coins, which are starting a new cycle and are expected to become the main theme of the market. Meme coins are favored for their fair, fully circulated, community-centric attributes, and are attracting funds from other sectors.
Overall, Tide Capital anticipates a long-term bull market for cryptocurrencies, with BTC and ETH continuing to lead the market. The report serves as a valuable insight into the current state of the cryptocurrency market and the potential trends to watch out for in the coming months.
