Trillion dollar investment fund interested in cryptocurrencies

There has been a lot of negative news regarding cryptocurrencies in recent months. Despite this, the cryptocurrency recovered and by the first week of August the market capitalization remained stable at over $1 trillion. There is also a lot of good news that the cryptocurrency market as a whole could rise throughout the month.

One of them is BlackRock, one of the most important investment funds, looking to get into cryptocurrencies. Institutions with over $1 trillion in assets under management are considering partnering with Coinbase. The partnership aims to create a platform that allows institutional investors, who form part of BlackRock’s customer base, to enter the crypto market. Not only is this bullish news for the cryptocurrency market as a whole, but it also creates an excellent opportunity for several big cryptocurrencies to rise within the month. This is because big money tends to be concentrated in large cryptocurrencies.

Here are a few things to keep in mind throughout the month if you decide to bet on large cap cryptocurrencies.

Ethereum (ETH)

Ethereum (ETH) is one of the top altcoins that could rise in August if BlackRock news positively impacts the market. That’s because there’s a lot going on with Ethereum outside of market news. One of them is the upcoming integration that will eventually lead to Ethereum running as Eth 2.0. That aside, Ethereum is one of the cryptocurrencies that BlackRock institutional investors are likely to buy. Because it is one of the most secure cryptocurrencies after Bitcoin. Ethereum already outperformed Bitcoin in August, so the momentum could well continue.

Cardano (ADA)

Cardano (ADA) is one of the cryptocurrencies whose price may fluctuate as BlackRock news permeates the market. One of the reasons Cardano is attractive to investors is that it is highly decentralized. After recent issues affecting high-profile cryptocurrencies, decentralization may be central to future cryptocurrency investments. In addition to being attractive to institutional investors, the Cardano development team has announced some significant upgrades in the short term. This could also play a role in giving Cardano momentum in August.

Bitcoin (BTC)

Bitcoin (BTC), the largest cryptocurrency, is a natural choice for institutional investors. So, now that BlackRock has an interest in the cryptocurrency market, Bitcoin can reap big profits. Bitcoin is already showing signs of improvement.

After dipping below $20,000 some time ago, it recovered and remained stable above $22,000 throughout August. There is also data showing that the majority of Bitcoin in existence today has been removed from exchanges, making the number one cryptocurrency highly illiquid.

As such, if institutional investors such as BlackRock take an interest in Bitcoin, its value could rise significantly. Even a small order can push BTC to an unexpected price within the month.

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