The cryptocurrency market grew by 13.3% in July, driven mainly by bitcoin (BTC) hitting several price highs throughout the month. The rally attracted increased institutional interest in Bitcoin, Ethereum, and major altcoins, supported by more companies integrating digital assets into their corporate treasuries.
According to a monthly report by Binance, the world’s largest crypto exchange, regulatory progress in the U.S., including the passage of new stablecoin laws, helped build confidence among market participants. As a result, altcoins outperformed BTC during the month, pushing Bitcoin’s market dominance down to 60.6%, while altcoins’ share rose close to 39.2%.
Regulatory Advances Boost Crypto Market
July showed positive signs from expected Federal Reserve rate cuts and new crypto legislation. Binance noted that these developments boosted institutional demand for altcoin futures and increased corporate digital asset holdings.
Specifically, ether (ETH) saw a significant jump in
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