June 2022 is behind us and it appears that traders and investors have been able to avoid an avalanche of disasters in this crypto winter month compared to the previous month. Recall that the cryptocurrency market suffered a sizable decline in June, with all of the top 10 cryptocurrencies by market cap posting double-digit percentage losses. The two main cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH), recorded a weaker performance than in May. June was the worst month ever for BTC, down 40%.
Yet after the initial shock of the market crash and the many questions surrounding companies such as Land (MOON), Three capital arrows, Celsius network (Cel), Travel digital, BlockFiand others, the market has finally seen a green month.
The performances of the top 10 in July
Looking at the top ten cryptocurrencies by market cap, it’s clear that July was a largely green month. All but one of the assets recorded double-digit increases (excluding stablecoins).
The clear winner of the month is ETH, up more than 58%. It should be noted that the month saw the confirmation of a probable date for the merger, when the blockchain will move from the current Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanism. This event is scheduled for September.
ETH is followed by BNB, the exchange’s native token Binance, which grew by 30%, as did Solana (SOL) and its increase by 29%. This is followed by XRP and BTC, both of which have appreciated more than 19% in the past month.
Finally, the latest double-digit surge of nearly 15% is Cardano (ADA), while the only token with an increase of less than 10% is Dogecoin (DOGE).
The best performers in the top 50 of July
This trend in green has earned the top 50 by market cap, with this month’s big winner Ethereum classic (ETH) appreciating nearly 150% in July. This performance is undoubtedly linked to rumors circulating that some Ethereum miners may switch to Ethereum Classic after switching from Ethereum to PoS. Additionally, at the end of July, the AntPool mining pool confirmed that it has invested $ 10 million to support the Ethereum Classic ecosystem and plans to continue investing more.
Second on the list is Filecoin (FIL), also up by more than 100%, and while Polygon (matic) and Quant (QNT) have increased by more than 90%, Aave (AAVE) and Uniswap (UNI) are left in 72% – 75% area.
As for the other cryptocurrencies on this list, they all appreciated between 52% and 59%, while the only top 10 coin included here is ETH.
The worst results in the top 50 of July
Looking at the red-green ratio in the top 50 is still one of the best ways to study how asset prices have moved in the month behind us.
In fact, today we observe a situation diametrically opposite to that of exactly one month ago. Only one asset closed July in the red in this category, and it was LEO, a utility token issued by Bitfinex. Interestingly, this was the best performing token for the month of June.
The best and worst of the top 100 in June
Many cryptocurrencies finished July green in the top 100 by market capitalization. The first place is occupied by the DAO lido token (LDO), which recorded a monthly increase of 365%. Lido Finance made headlines in July, with its plans to expand its services to various Ethereum Layer 2 scaling solutions. However, it also made a proposal that proved unacceptable to the community which voted against the sale of 10 million. of LDO tokens to the cryptocurrency investment company Capital of the dragonfly for 14.5 m of DAI. The team quickly returned with a second “more suitable” proposal.
LDO is followed by ETC, FIL and MATIC, already mentioned. The second part of the top ten of the top 100 includes Bitcoin Gold (BTG), QNT, the Curve DAO (CRV) token and Convex finance (CVX), up 95-80%. Last on the list is CEL, which despite the mess Celsius found itself in, managed to climb 79% at the end of July.
Excluding stablecoins, there were only four assets in red among the 100. Huobi (HT) token is in sixth place with a 3% drop, LEO is in third place, Terra classic (LUNC) is in second with a decline of 17% and in first place Tenset (10SET) with a decrease of 17%.
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