In the opening weeks of July, it looked like gold would surpass bitcoin for monthly returns, as it reached an all-time high, a frustrating state of affairs for those who believe the current macro situation should be a “perfect storm” for bitcoin’s “gold 2.0” narrative. That was before bitcoin shot up nearly 20% in a week. Meanwhile, Ethereum fees and network activity are soaring, elevated by stablecoins, especially tether – but it isn't having an impact on Ethereum's low- or no-fee competitors for tether transactions, like Tron. We also look at returns, volatility and correlations for privacy coins in the CoinDesk 20: dash, monero and zcash.
CoinDesk Monthly Review, July 2020
Updated Oct 18, 2021 at 1:57 p.m. UTC
![The CoinDesk Monthly Review for July 2020 covers how bitcoin performed vs. gold; how Ethereum is responding to stablecoin pressures; volume in crypto markets; and the returns, volatility and correlations of stablecoins in the CoinDesk 20.](https://www.coindesk.com/resizer/D0KVQ7F9bop7DFxZvUsjZ1Sau-A=/567x315/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DSYS5CBKINGQLKM6JWIT74QFEQ.png)