- Grayscale reported its Consumer and Culture Crypto Sector grew 24% in November.
- Crypto assets and products like NFTs, web3 games, metaverse, and governance tokens are covered under the sector.
- Grayscale said major players within the sector are well-positioned to grow their user base.
In a recent report, Grayscale noted that its Consumer and Culture Crypto Sector saw significant growth alongside major cryptocurrencies like Bitcoin. Crypto applications covered in the sector include entertainment, music, media, collectibles, sports, and art.
Grayscale reported a 24% month-to-date growth in the sector as of November 27, 2023. The upward surge coincides with increased investors’ confidence in the crypto market, primarily driven by speculation that the U.S. Securities and Exchange Commission will approve one or more of the spot Bitcoin ETF applications it has been sitting on.
November Month-to-Date Returns for the FTSE Grayscale Crypto Sector Indexes | Source: Grayscale
Based on the recent performance, Grayscale predicted that the sector, which accounts for 2% of the crypto market cap, has “substantial opportunity.” The report based this projection o…
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