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 casino, 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.