Bitcoin rises in July after three months of falling, but loses to DeFis; see ranking | cryptocurrencies

According to a survey by QR Capital, the cryptocurrency fund manager responsible for two ETFs of digital assets listed on B3 (the QBTC11, 100% allocated in bitcoin, and the QETH11, 100% allocated in etherum), bitcoin rose 15.26% in July compared to the real thing, after having lost 51.95% in the accumulated of the previous three months.

The ethereum, the second largest cryptocurrency on the market, rose 12% in the month.

5 best performing cryptocurrencies in July

SymbolNamePrice at the beginning of the month (USS)End of month price (USS)% variation
LUNAEarth6.56387910.7463.66
AAVEAbird250.958108331.3232.02
FTTFTX Token27,52966835.1927.82
AMPAMP0.05780.0725.67
NEONEO36.61350745.8425.19

The biggest increase was due to Luna, a governance token of a distributed registration technology (blockchain) called Terra, which rose 63.66% in July, almost double the performance of the second place in the monthly ranking.

The increase was driven by a significant growth in the adoption of Terra protocols, in particular the stable coin TerraUSD, anchored in the value of the dollar, whose average daily volume doubled in July. In addition, the company behind Terra Blockchain received a $150 million investment from venture capital funds in July.

Aave, the governance token of the DeFi protocol of the same name that enables loans guaranteed in cryptocurrencies, had the second best performance in July and recovered after a sharp drop in the previous two months. In July, the total volume lent by the platform rose again along with the total amount deposited in guarantees.

According to QR Capital, in July, the market also gave “signs that it is starting to return to normality”, with “memecoins” (cryptocurrencies born from internet jokes) such as Shiba Inu and Dogecoin leading losses.

5 worst performing cryptocurrencies in June

SymbolNamePrice at the beginning of the month (USS)End of month price (USS)% variation
SHIBShiba Inu0.0000090.000006-29.21
DOGEDogecoin0.2539680.21-18.19
ICPDFinity49.91465641.93-15.99
FILFilecoin60.40725752.05-13.83
THETATheta Network6.9155246.10-11.72

“After surfing good times during the first half of the year, on a large scale thanks to tweets from billionaire Elon Musk, the market seems to have realized that these assets do not have any intrinsic value”, comments the manager.

The other members of the biggest falls had their poor performances credited by QR Capital’s analysis to market corrections, after projects in very incipient stages had received “inflated” volumes of resources.

It is worth remembering that the ranking organized by QR Asset Management takes into account the fluctuations of cryptocurrencies with their respective prices in dollars, disregarding the effect of the US currency against the real.

The 40 largest cryptocurrencies were analyzed by market capitalization, according to the website messari.io.

Any asset that started or ended the month (or semester) in the top 40 was considered in the ranking. Only cryptocurrencies that started the month (or semester) in the top 40 and ended the period outside the top 100 were not considered.

Bitcoin price — Photo: Getty Images