ETH Led Altcoins in Driving Crypto Market Higher With Stablecoins, Tokenized Stocks in July: Binance Research
The crypto market grew 13% in value in July, fueled by a rotation from bitcoin
into altcoins, according to Binance Research’s “Monthly Market Insights” report for August.
Ether (ETH) was the standout, rallying 48% as another 24 companies added the asset to their balance sheets, lifting corporate holdings by 128% to 2.7 million ETH. That’s nearly half the number held by ETFs. Binance attributed the trend to staking yield, ETH’s deflationary supply and growing comfort among companies to hold cryptocurrencies directly .
Bitcoin
dominance fell 5.2 percentage points to 60.6%, driven by expectations of Federal Reserve interest-rate cuts and U.S. regulatory clarity from the passage of three major crypto bills, including the GENIUS Act on…
