Coin Race: Top Winners/Losers of July; Ethereum & Ethereum Classic Win the Month
June 2022 is behind us, and it seems that there were fewer avalanches for traders and investors to live through during this crypto winter month than the one that preceded it.
As a reminder, June saw the crypto market drop substantially, with all coins in the top 10 by market capitalization seeing double-digit percentage losses and the top two cryptoassets, bitcoin (BTC) and ethereum (ETH), recording a weaker performance than in May. For example, this was BTC’s worst month on record, with a 40% drop.
Yet, after the initial shock of the market crash and all the massive issues surrounding companies such as Terra (LUNA), Three Arrows Capital, Celsius Network (CEL), Voyager Digital, BlockFi, and others, the market finally saw green.
Looking at the top 10 coins by market capitalization clearly shows what a turn for the greener July had taken. All coins – except for one – saw double-digit increases (not taking stablecoins into consideration).
The undeniable winner of the month is ETH, with a rise of more than 58%. It is notable that the month was filled with the news of the upcoming Merge, when the project will move from the current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). This has been tentatively scheduled for September.
ETH is followed by BNB, the native token of the Binance exchange, which went up 30%, as well as solana (SOL) and its 29% rise. Then come XRP and BTC, both of which appreciated more than 19% during the past month.
Finally, the last double-digit increase of nearly 15% was that of cardano (ADA), while the only coin that went up less than 10% is dogecoin (DOGE).
And the greenery continues in the top 50 category by market capitalization, where the throne is occupied by ethereum classic (ETH) –
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