Top performing cryptocurrencies were Bitcoin, Stellar, and Zcash while Binance Coin, Tezos, OmiseGO and Qtum were the biggest losers.
As another month passes in crypto land it is time to look back at the best and worst performing cryptocurrencies in July. Following the yearly lows in June things promised to be more positive in July. Total market capitalization climbed 14% from $257 billion to $293 billion by the end of the month. The first half of the month was in a down trend with a low of $243 billion on the 13th, this was followed by rally that took total market cap back over $300 billion for the first time since mid-June.
The charge has been largely the work of Bitcoin which has gained around 28% over the month. It started out trading around $6,400 and surged to a high of $8,345 before correcting to $8,180 by the end of July. The significant thing to note, however, is the rise in BTC market dominance as its price climbed at the expense of all of the altcoins. By the end of July Bitcoin commanded 48% of the crypto market, up from 42.6% on July 1st.
July Crypto Winners
Bitcoin Cash made some gains in July, climbing around $66 from $750 to $816 over the month. The almost 9% gain follows a month of heavy losses in June for BCH and was likely driven by its big brother’s performance.
Stellar had a stellar month jumping 53% in July from $0.193 to $0.296 at the end of the month. The price of XLM was driven by a new partnership with Singapore based payments provider, TransferTo, and another partner, SatoshiPay, entering the London Stock Exchange.
Cardano made small gains in July which follows three months of heavy declines. ADA ended the month up 11.6% to $0.154 from $0.138 at the start. It was down trending at the end of July though and Cardano usually falls fast in these market conditions.
Neo managed to claw back some marginal gains of just under 5% in July ending the month at $32.3. Similarly Ethereum Classic made a little over 6% ending July at $17.2, as did Nem climbing slightly by around 5% to $0.172. Rounding out the top twenty Zcash had a very good month climbing almost 28% to end it at $216.
Other crypto winners in July included 0x jumping 48%, BitShares bouncing 31% higher, and Bitcoin Gold climbing 15%.
July Crypto Losers
Ethereum did not move a great deal in July, starting out at around $455 and trading at $457 by the end of the month. ETH briefly broke above $500 on July 18 during the mini bull run but rapidly retreated back to previous levels around $460. It is the third month in a row that Ethereum has made no gains.
Ripple’s XRP lost 4% across July ending the month at $0.446, down from $0.465 on the first. Despite a growing number of partners and services, investment has not flooded back into the firm’s cryptocurrency.
EOS dropped 4.6% across July sliding back from $8.15 to $7.77. Since it’s over-hyped and maligned mainnet launch, and the all-time high of over $21 at the end of April, EOS has crashed 63% in the last three months.
Litecoin did not really move in July, ending the month where it started at just over $81. Stellar’s gain has been Litecoin’s pain as it fell to seventh spot in the coin cap charts. Iota was in a similar situation beginning the month at just over a dollar and ending it just under one.
Tron suffered a 5.2% fall in July with even Justin Sun’s torrent of tweets unable to keep the coin buoyed up. Monero started and finished the month at exactly the same price, $131, and Dash fared similarly dropping just 1.5% over the month.
Following a sterling month in June Binance Coin actually lost ground in July falling 10% from $14.68 to $13.22. Even though Tezos arrived on the scene in terms of market cap it actually got battered price wise in July crashing 53% to just over $2 from $4.4 at the beginning. VeChain had a very turbulent July and lost 5% following some wild swings to end the month at $2.50.
Other crypto losers in July included OmiseGO dropping 12%, Qtum sliding 13%, Lisk losing 8%, Bytecoin falling 6.7%, Zilliqa staying flat, Decred ditching 10%, and Aeternity rounding out the top thirty with no movement.
Bitcoin made most of the gains during the month largely at expense of the rest of the altcoins, only a few of which ended July higher than they started it. Total market capitalization only increased in July because $30 billion was poured back into BTC which showed all the signs of a solid recovery by the end of the month. To summarize crypto winners in July were Bitcoin, Stellar and Zcash. The biggest losers were Binance Coin, Tezos, OmiseGO and Qtum.
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