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In July, the price of the second-largest cryptocurrency by capitalization increased by 56.6%, while bitcoin showed more modest results – 16.8%. This is stated in the ForkLog report.
In July, the price of the second-largest cryptocurrency by capitalization increased by 56.6%, while bitcoin showed more modest results – 16.8%. This is stated in the ForkLog report.
Among mid-cap assets, the LDO of the Lido protocol showed the greatest growth. Asset increased by 350% during recovery of the stETH/ETH stabilizer.
Positive dynamics were also demonstrated by the OP L2 protocol token Optimism (more than 200%) and Ethereum Classic (almost 150%). The reason for the growth of the latter was the statements of Ethereum developers about the upcoming transition of the Goerli testnet to PoS. The community expects miners to switch to the “closest relative” PoW protocol.
Among the outsiders were the assets of the collapsing Terra ecosystem, against the backdrop of the investigation by law enforcement about its collapse and calls from top executives.
The securities of the vast majority of publicly traded cryptocurrency companies and miners grew after the overall market recovery. The exception was broker Voyager Digital, which filed for bankruptcy.
The record holder of the month was Marathon Digital, whose shares increased by 140%. The company has committed to a HODL strategy despite significant sales pressure from public miners.
At the end of July, nearly all DeFi tokens in the top 20 by capitalization were in the green zone – in the April-June 2022 period, the opposite was observed.
The best dynamics were demonstrated by the icon of the yEarn Finance project – during the month the price of YFI increased by 86%. The market value of Uniswap, Curve and SushiSwap tokens has also increased significantly. This indicates an increase in user interest in decentralized platforms.
At the time of writing, Bitcoin is trading around $23,015, while Ethereum is trading at $1,670. Its total market cap is $1.13 trillion.
Recall that the experts of Ark Invest allowed the offers of the first cryptocurrency to increase by 240% from current levels.
In August, Arcane Research analysts said that if bitcoin stabilizes above the $20,700 level, its price will quickly rise to the $27,000-28,000 range.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
