HODL, norDL Investors!
July brought new developments to the crypto market, including the launch of 8 Ethereum ETFs, which had a notable impact on market dynamics.
In July 2024, the cryptocurrency market experienced a period of stagnation, with little to no change in the value of various digital assets. Despite the launch of an Ethereum ETF, it failed to make any significant impact on the market during the month.
Bitcoin, saw a rise of +5.22%, while Ethereum dropped by 4.84% during the month.
Let’s explore the detailed performance of the Crypto Index Funds over the past month.
Performance of Crypto Index Funds:
Our Crypto Index Funds demonstrated varying degrees of performance in July, with monthly returns reaching up to +4.03%. This diversity in returns emphasizes the benefits of a well-rounded investment strategy that includes multiple assets.
However, looking at the broader picture, the 7-month returns reached up to +54.32%. This long-term performance highlights the benefits of maintaining a diversified portfolio and staying invested over time.
Check out the following graph to know each fund’s performance:
The launch of Ethereum ETFs was the most significant event of the month, providing a new avenue for institutional and retail investors to gain exposure to Ethereum. This development is a positive indicator for the long-term growth potential of Ethereum.
However, in the short term, the crypto market may experience volatility and correction, influenced by trends in the global financial markets.
Tips to Tackle Short-Term Volatility in Crypto Investments:
- Diversify Your Portfolio: Spread your investments across multiple cryptocurrencies and other asset classes to minimize risk.
- Utilize Dollar-Cost Averaging (DCA): Invest a fixed amount regularly, regardless of market conditions, to average out the cost of your investments over time.
- Stay Informed: Keep up-to-date with global financial news and trends to anticipate and stay positive during volatile market movements.
- Maintain a Long-Term Perspective: Focus on your long-term investment goals rather than short-term market fluctuations.
- Secure Your Investments: Use secure platforms like the norDL app and enable two-factor authentication (2FA) to protect your assets.
norDL Updates:
We are pleased to announce that we have implemented UI updates and bug fixes to the norDL app, ensuring a smoother and more user-friendly experience for our growing community of investors.
Thank you for choosing norDL as your trusted partner in you crypto investment journey.
HODL strong, and let’s continue to embrace the future of crypto investments together!
Disclaimer: Crypto is a volatile and slightly risky asset due to its novel nature. Please Consult your financial advisor to allocate appropriate funds to invest in crypto assets apart from your traditional investing.
Follow us to join the smart Crypto Investor Community on norDL: