Rand also emphasized that momentum appears to be reversing from negative to positive, signaling a potential shift in market sentiment. With just under two weeks until the market expected Fed rate cuts, the analyst suggested the policy shift could provide the catalyst for a stronger recovery in September.
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In a post on X on Thursday, the analyst pointed to a significant downturn in retail engagement. “Retail Demand Change sits at -5.7%. They’re the tourists of the crypto market, here for the hype, gone when it fades.”
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On August 12th, the digital asset investment platform Grayscale announced the launch of the Grayscale DeepBook Trust and Grayscale Walrus Trust. These trusts operate similarly to Grayscale's other single-asset investment products. Accordingly, they are invested exclusively in DEEP and WAL tokens, providing investors with direct access to these tokens. The company stated that these trusts are now available for daily subscription to qualified individual and institutional accredited investors.
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