Top 10 Coins in July 📈

In July, the market recovered from June's decline, with capitalization growing by 8% 🚀. We explain what drove prices and which coins ended up at the top versus which ones lagged behind.

📊 Total crypto market capitalization in July grew by 8.0% to reach $2.29 trillion. Net inflows into spot Bitcoin ETFs turned positive for the first time since early May, although volumes ($75–200 million per week) remained an order of magnitude lower than June's record outflow of $4.5 billion. Meanwhile, spot market turnover is still 29% below the post-2019 average—the recovery was sustained by thin summer volumes 🌊.

🥇 The leader of the month was ETH (+19.7%)—spot ETH ETFs, led by BlackRock's ETHA, snapped an eight-week streak of outflows, attracted $338 million, and broke through a long-term downward trend. 🔒 ZEC (+14.4%) rose ahead of a major network upgrade. ₿ BTC (+8.9%) rebounded from a low of $58.5k amid three weeks of ETF inflows. BNB added 7.9%, while TRX and XRP grew by 3.8% and 3.9% respectively.

📉 But there were also underperformers: SOL dropped 1.5% despite positive news, DOGE lost 4.5% amid fading interest in DOGE ETFs, and the worst performer was HYPE (-16.7%)—volumes on its platform have been falling for the fifth consecutive month.

🏦 On July 29, the Fed kept interest rates unchanged for the fifth consecutive time at 3.50–3.75%, but three committee members voted for a rate hike for the first time since 2016—the market noticed.

💵 Stablecoins decreased by 0.80% to $309.9 billion, while tokenized real-world assets (RWAs) grew by 3.2% to $37 billion, largely thanks to the launch of a tokenized fund by JPMorgan.

⚡️ A distinct trend is TradFi perps: their share of futures volume on top exchanges skyrocketed from 2.7% in January to 28.3% in July—a nearly tenfold increase over seven months 📌.

🔮 Ahead are the Fed's September rate decision and the fate of crypto regulation in the US. The market is clearly coming back to life, but is still acting cautiously.

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