BTC Extends Dominance Ove Other Cryptos

BTC Extends Dominance Ove Other Cryptos

BTC Extends Dominance Ove Other Cryptos

The July reports are out and compared to June, the vas majority of cryptos declined or stagnated. Only a few top markets such as BTC, USDT or DASH were able to buck the trade and register an increase. The most notable one comes from BTC with a 4.6% increase.

To put it in numbers, July saw BTC trade over $131 billion USD and to make a rough idea on how that is compared to other cryptocurrencies, all the other ten most traded coins made $121 billion together. The $121 billion does not include USDT but that’s still pretty impressive for Bitcoin, especially considering that many analysts were predicting grim days for the crypto.

The $131 billion represent a 4.6% increase compared to June, however, it is still consistently lower than the $185 billion it made in May. It’s no surprise that fluctuations appear in the BTC market, just like with any other market out there, and a good sign comes from the market capitalization index that hit a solid 47.5%.

USDT – Highest Percentage Increase in July on Monthly Trade Volume

Great news come for USDT as well, a coin that registered a 11% gain to reach $85.5 billion in July. Considering that this is still an emerging crypto, the growth is exceptional and it pushed USDT as second-traded crypto on the market.

ETH stagnated in July, holding on its position as the third most-traded crypto token with a total volume $53 billion in July.

EOS also kept their position but their volume dropped from $32 billion to a $20.4 billion in July. A 36% drop that is notable even for an emerging coin.

BCH Registers Slight Growth

Bitcoin Cash increased a bit in July from $14/7 billion to $14.85 billion in July. It currently holds the fifth place in the most-traded cryptocurrency tokens and it is quite far from the next position. Litecoin occupies the 6th position with a total volume of $8.57 billion in July.

Dash Reaches the Top Ten of Most Traded Cryptos

Before we reach Dash, let’s note that Ethereum Classic has increased with $100 million compared with June and it currently the 8th most traded coin. On the ninth position, Tron registered a 9% drop to a total trade volume of $6 billion.

As previously mentioned, DASH broke through the top ten in July with a volume of $5 billion. In its way towards the top, Dash overcame QTUM that even though registered a 25% growth, it still sits at $4.4 billion.

Leave your comment