Ether (ETH) emerged as the best performing digital asset in July, posting a 57% gain and leaving a significant margin against other cryptocurrencies.
ETH finished the month with a market capitalization of $205 billion after its price rose 57% to $1,680.
This is even as the volatility of the cryptocurrency market worsened in July, further slipping away from the high level reached in May.
This is as findings by CryptoCompare, a global cryptocurrency market data provider, which studies five major cryptocurrencies: Bitcoin (BTC), ETH, XRP, SOL, and ADA.
Monthly / 3 month returns
According to CryptoCompare, SOL followed ETH in monthly gains as the digital asset returned 25.6%.
It is followed by Bitcoin (17.1%), XRP (14.2%), and ADA (12.2%).
“Market sentiment moved in July, however, with traditional and digital asset markets rebounding. Ethereum is the best-profiled asset with reasonable profits, returning 57% month-on-month as merger anticipation continues to build,” explains CryptoCompare.
However, when digital assets are compared in terms of market activity between May and July 2022, ADA is the best performing digital asset.
In the last three months, ADA produced a negative return of at least -31.7%.
In order of the most negative returns, other cryptocurrencies returned as follows: BTC (-38.1%), ETH (-38.4%), XRP (-35.2%) and SOL (-49.9%).
When calculated on a year-to-date (YTD) basis or January-July 2022, BTC produced the most negative return with -49.5% with ETH and XRP tied with -54.3%
ADA (-60.5%) and SOL (-75.1%) followed in YTD negative returns in ascending order.
“Over the last three months, all digital assets covered have lost about a third of their value as the cryptocurrency space continues to be disrupted by high-profile. contagion event,” the market data provider explained.
Crypto Volatility
According to CryptoCompare, ETH and SOL were the most stable digital assets in July.
ETH marks a 108% volatility rate “given significant upward price movement.” It is followed by SOL with a volatility rate of 107%.
On the contrary, XRP and BTC are the most volatile. They saw volatility levels of 61.8 and 62.1% last month.
In terms of volume, the total volume of USDT across the five assets increased by 22.7% to $319 billion, CryptoCompare said. The data provider, however, shows that the volume of USDT increased only for BTC and ETH.
This, he explained, shows that participants are “leaning towards two digital assets that are considered safer in the crypto landscape.”
Meanwhile, as a result of new Solana wallet hack, the price of SOL dropped by 11.6% from $42.43 to $37.48, said CryptoCompare.
Ether (ETH) emerged as the best performing digital asset in July, posting a 57% gain and leaving a significant margin against other cryptocurrencies.
ETH finished the month with a market capitalization of $205 billion after its price rose 57% to $1,680.
This is even as the volatility of the cryptocurrency market worsened in July, further slipping away from the high level reached in May.
This is as findings by CryptoCompare, a global cryptocurrency market data provider, which studies five major cryptocurrencies: Bitcoin (BTC), ETH, XRP, SOL, and ADA.
Monthly / 3 month returns
According to CryptoCompare, SOL followed ETH in monthly gains as the digital asset returned 25.6%.
It is followed by Bitcoin (17.1%), XRP (14.2%), and ADA (12.2%).
“Market sentiment moved in July, however, with traditional and digital asset markets rebounding. Ethereum is the best-profiled asset with reasonable profits, returning 57% month-on-month as merger anticipation continues to build,” explains CryptoCompare.
However, when digital assets are compared in terms of market activity between May and July 2022, ADA is the best performing digital asset.
In the last three months, ADA produced a negative return of at least -31.7%.
In order of the most negative returns, other cryptocurrencies returned as follows: BTC (-38.1%), ETH (-38.4%), XRP (-35.2%) and SOL (-49.9%).
When calculated on a year-to-date (YTD) basis or January-July 2022, BTC produced the most negative return with -49.5% with ETH and XRP tied with -54.3%
ADA (-60.5%) and SOL (-75.1%) followed in YTD negative returns in ascending order.
“Over the last three months, all digital assets covered have lost about a third of their value as the cryptocurrency space continues to be disrupted by high-profile. contagion event,” the market data provider explained.
Crypto Volatility
According to CryptoCompare, ETH and SOL were the most stable digital assets in July.
ETH marks a 108% volatility rate “given significant upward price movement.” It is followed by SOL with a volatility rate of 107%.
On the contrary, XRP and BTC are the most volatile. They saw volatility levels of 61.8 and 62.1% last month.
In terms of volume, the total volume of USDT across the five assets increased by 22.7% to $319 billion, CryptoCompare said. The data provider, however, shows that the volume of USDT increased only for BTC and ETH.
This, he explained, shows that participants are “leaning towards two digital assets that are considered safer in the crypto landscape.”
Meanwhile, as a result of new Solana wallet hack, the price of SOL dropped by 11.6% from $42.43 to $37.48, said CryptoCompare.
