CryptoGlobe July Monthly Report – Cryptocurrency Markets Strike Back

PMBC Group’s client, Blocktrade Capital, was featured on CryptoGlobe.

Cryptocurrencies bounced back in July, experiencing notable gains during the first several weeks, seemingly breaking free from the downward trend they had been enduring for months.

This rally took place as the digital currency industry benefited from several positive developments, including news that the world’s largest asset manager BlackRock is considering establishing a working group to investigate digital currencies and blockchain technology.

Markets also responded to an announcement that investment bank Goldman Sachs named a CEO receptive to these innovative technologies to succeed Lloyd Blankfein.

During the month, the broader digital currency market rose by as much as 20.6%, according to the MVIS CryptoCompare Digital Assets 100 Index (MVDA), a key benchmark based on the value of the top 100 largest digital assets. This measure peaked on July 25, when it hit 3,269.24, up from 2,709.89 at the start of the month.

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