Source: iStock / SDivin09
Perhaps surprisingly, July was a green month. Despite the slumps and sideways trading, there was a surge in crypto markets in the second half of the month, pulling the month into the green zone.
It happened after the crypto markets ended June in red with no single winner among the top ten coins by market cap and only five in the top 50. At the time, that was 7% of Bitcoin (BTC) the smallest drop, followed by Ethereum (ETH) with 13%.
In July, BTC initially slowly fell from $ 35,600 to $ 29,500 in the second half of the month, around the 20th, at which point the surge began and ended the month at nearly $ 42,000. Similarly, ETH initially fell from around $ 2,300 at the beginning of the month to $ 1,500 around July 20, then rose again and ended the month at $ 2,600. As for developments in these two networks, two important ones are underway: Bitcoin’s major Taproot upgrade is being tested on the testnet, while preparations for the upcoming Ethereum London upgrade are also in full swing.
Top 10 coins in July
Source: Omenics.com, Aug 1, 5:56 UTC
All but one coin in the top 10 had gained weight over the course of July, some more than others. The race was close, but the winner of the month was uniswap (UNI) with a price increase of 21.5%. Right behind were Ethereum and Bitcoin, which crossed the finish line with a plus of more than 20%.
As reported, Uniswap experienced some important developments in July – especially the DeFi startup Optimism has the long-awaited Alpha Layer Two solution (L2) for the large decentralized exchange (DEX) Uniswap via the Optimistic Ethereum (OΞ) mainnet brought the market. However, Uniswap has also faced significant governance drama.
Three other coins recorded double-digit increases, namely Polkadot (DOT) and Binance Coin (BNB) with around 16% and XRP with 13%.
The BNB, in particular, rebounded despite the ongoing regulatory issues that the Binance crypto exchange faced. Meanwhile, Ripple deepened its relationship with its largest Asian partner, Japanese financial giant SBI, with a remittance deal it calls “Japan’s first live-on-demand liquidity offering.”
Finally, Cardano (ADA) was up 1% – and was generally one of the better performers that year.
The only coin that fell in July was Dogecoin (DOGE) – the winner of the second quarter and first half of 2021. It’s a 14% decline.
Top winner in July
Source: Omenics.com, Aug 1, 5:56 UTC
And we have a full list of the top 10 best performing coins in the top 50 by market capitalization. Axie Infinity (AXS) leads it by a distance, up nearly 724%. The coin hit several new all-time highs in July. In a mid-July post, the team behind it said that it “continues to experience unprecedented growth” and also announced that it will provide dedicated servers specifically for esports events over the next few months.
The distant second and third place are occupied by OKB and terra (LUNA), which rose by 87% and 83% respectively. AAVE increased 41%, FTT increased 44%, while the remaining four increased between 24% and 28%.
Top loser in July
Source: Omenics.com, Aug 1, 5:56 UTC
Although the green list is full, the red list is also full. However, the declines are not that big compared to the increases. The front runner on this list is one of the June winners, Shiba Inu (SHIB). In July it fell by more than 25%.
It is the only coin to have fallen more than 20% while only two more posted double-digit losses: DOGE and THETA. While Filecoin (FIL) lost almost 5% in value, Ethereum Classic (ETC), Bitcoin SV (BSV) and Algorand (ALGO) all fell between 2% and almost 3%.
Eventually, Polygon (MATIC) decreased less than 2% while Tron (TRX) decreased less than 1%.
Top 100 winners & losers
Looking at the top ten performers in the top 100 by market capitalization, we find AXS at the top, followed by FLOW and Quant Network (QNT), which are up 147% and 118% respectively.
As for the declines, the highest of them is mdex (MDX) at 30%, followed by SAFEMOON, Telcoin (TEL) and SHIB, all of which are down between 25% and 26%.
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Learn more:
– Bitcoin could exceed USD 66,000 in 2021 and USD 400,000 by 2030 – ‘Panel of Experts’
– 6YO Cardano still compensates a lack of acceptance with plans and hopes
– Safekeeping or not safekeeping? Three reports weigh on Bitcoin
– ETH becomes “unlikely” to become the “people’s currency” but can still compete with BTC
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