ETH is the best-performing asset in July; The fall in crypto volatility continues
Ether (ETH) emerged as the best performing digital asset in July, posting a 57% gain and leaving a significant margin against other cryptocurrencies.
ETH ended the month with a market capitalization of $205 billion after its price rose 57% to $1,680.
This is even as volatility across cryptocurrency markets worsened in July, falling further away from the highs reached in May.
These are the findings of CryptoCompare, a global cryptocurrency market data provider, who studied five major cryptocurrencies: Bitcoin (BTC), ETH, XRP, SOL and ADA.
Monthly/3-month return
According to CryptoCompare, SOL is far behind ETH in monthly gains as the digital asset returned 25.6%.
This is followed by Bitcoin (17.1%), XRP (14.2%) and ADA (12.2%).
“However, market sentiment changed in July, with both traditional and digital asset markets rebounding. Ethereum was the high-profile, best-performing asset by a significant margin, returning 57% month-on-month as anticipation for the merger continues to build,” explained CryptoCompare.
However, when the digital assets are compared in terms of marketing activities between May and July 2022, ADA becomes the best performing digital asset.
Over the past three months, ADA produced the least negative return of -31.7%.
In order of least negative return, 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) or January-July 2022 basis, BTC produced the least negative return at -49.5%, while ETH and XRP combined at -54.3%
ADA (-60.5%) and SOL (-75.1%) followed YTD negative returns in ascending order.
“Over the past three months, all covered digital assets have lost roughly a third of their value as the cryptocurrency space continued to be plagued by high-profile contagion events,” the market data provider explained.
Crypto volatility
According to CryptoCompare, ETH and SOL were the most volatile digital assets in July.
ETH marked a volatility level of 108% “given its significant upward price movement.” This was followed by SOL with a volatility level of 107%.
On the contrary, XRP and BTC were the least volatile. They saw 61.8 and 62.1% volatility levels, respectively, in the last month.
In terms of volume, total USDT volumes across the five assets rose 22.7% to $319 billion, CryptoCompare said. However, the data provider pointed out that USDT volumes increased for only BTC and ETH.
This, it explained, suggests that participants are “tilting towards the two digital assets that are considered safer in the crypto landscape.”
Meanwhile, as a result of the recent hack of Solana wallets, the price of SOL fell by 11.6% from $42.43 to $37.48, CryptoCompare said.
Ether (ETH) emerged as the best performing digital asset in July, posting a 57% gain and leaving a significant margin against other cryptocurrencies.
ETH ended the month with a market capitalization of $205 billion after its price rose 57% to $1,680.
This is even as volatility across cryptocurrency markets worsened in July, falling further away from the highs reached in May.
These are the findings of CryptoCompare, a global cryptocurrency market data provider, who studied five major cryptocurrencies: Bitcoin (BTC), ETH, XRP, SOL and ADA.
Monthly/3-month return
According to CryptoCompare, SOL is far behind ETH in monthly gains as the digital asset returned 25.6%.
This is followed by Bitcoin (17.1%), XRP (14.2%) and ADA (12.2%).
“However, market sentiment changed in July, with both traditional and digital asset markets rebounding. Ethereum was the high-profile, best-performing asset by a significant margin, returning 57% month-on-month as anticipation for the merger continues to build,” explained CryptoCompare.
However, when the digital assets are compared in terms of marketing activities between May and July 2022, ADA becomes the best performing digital asset.
Over the past three months, ADA produced the least negative return of -31.7%.
In order of least negative return, 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) or January-July 2022 basis, BTC produced the least negative return at -49.5%, while ETH and XRP combined at -54.3%
ADA (-60.5%) and SOL (-75.1%) followed YTD negative returns in ascending order.
“Over the past three months, all covered digital assets have lost roughly a third of their value as the cryptocurrency space continued to be plagued by high-profile contagion events,” the market data provider explained.
Crypto volatility
According to CryptoCompare, ETH and SOL were the most volatile digital assets in July.
ETH marked a volatility level of 108% “given its significant upward price movement.” This was followed by SOL with a volatility level of 107%.
On the contrary, XRP and BTC were the least volatile. They saw 61.8 and 62.1% volatility levels, respectively, in the last month.
In terms of volume, total USDT volumes across the five assets rose 22.7% to $319 billion, CryptoCompare said. However, the data provider pointed out that USDT volumes increased for only BTC and ETH.
This, it explained, suggests that participants are “tilting towards the two digital assets that are considered safer in the crypto landscape.”
Meanwhile, as a result of the recent hack of Solana wallets, the price of SOL fell by 11.6% from $42.43 to $37.48, CryptoCompare said.
