In July, we witnessed a further decline in the crypto markets. Bitcoin traded as low as $19,000, a level it has not seen since late 2020, while the total value of the crypto market is now at just $1.3 trillion, a fraction of its peak of $3 trillion in December.
However, some crypto assets have managed to withstand the drift and recorded gains versus the last month.
Keep reading to discover the best-performing crypto assets in July.
Below, you will find a list of the best performing cryptocurrencies in July.
|UNUS SED LEO (LEO)||12.84%||
|Theta Network (THETA)||12.25%||
|Basic Attention Token (BAT)||2.10%||
Market capitalisation: $1,235,579,863
MoM %: 38.66%
YoY %: 21.56%
Helium (HNT) is a blockchain network that leverages wireless devices to power Internet of Things (IoT) solutions. On the Helium network, wireless devices can “talk” to each other and send data across its network of nodes using so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes receive rewards in Helium’s blockchain token, HNT.
While most crypto assets are still reeling from the market correction, Helium (HNT) booked gains in July. It was trading around $4 a couple of weeks ago, it has grown past $9, and is reaching $10. There’s a possibility that the announcement of recent partnerships with Europa Labs, Ultimate Division, and AMUZED contributed to the token’s price surge.
HNT is the 44th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $292,984,346
MoM %: 33.89%
YoY %: 16.467%
Storj is a decentralised peer-to-peer cloud storage platform that allows users to lease and rent hard drive space between themselves. It is one of the leading blockchain-powered cloud storage solutions, with 13,000+ active nodes and 40+ billion saved files.
STORJ has been a star performer in the lingering bearish market. While Bitcoin and Ethereum have dropped around 30% in value in July, STORJ has continued an upward trajectory, recording an impressive 34% month-on-month gain. The growth of the network is backed by numerous Web3 ventures choosing Storj as a storage solution.
STORJ is the 104th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $603,733,631
MoM %: 28.02%
YoY %: 64.55%
Waves is an open-source blockchain platform and development toolset for Web3 applications, built with the aim of raising the security, reliability, and speed of crypto platforms. Anyone can build and launch decentralised crypto solutions, from DeFi to NFTs, on the Waves network.
WAVES had in the preceding month shown a downtrend due to the ongoing general bear market but the cryptocurrency turned things around in July, booking a 28% month–on-month gain.
WAVES is the 69th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $5,480,000,000
MoM %: 12.84%
YoY %: 137.04%
UNUS SED LEO is a utility token that enables users across the iFinex ecosystem to gain discounts on transaction fees. The more LEO users have in their account, the higher their discount.
The price of LEO hasn’t risen due to any major announcement in its community and could be purely driven by speculation.
LEO is the 15th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $1,290,421,947
MoM %: 12.25%
YoY %: 82.16%
Theta (THETA) is a blockchain network built to enable video streaming by allowing users to share bandwidth and computing resources on a peer-to-peer (P2P) basis.
The Theta Network (THETA) increases in value as the earnings of the content creators increase, and the infrastructure costs are reduced. The awards distributed from the project are given to the beneficiaries as ThetaFuel (TFUEL).
This cryptocurrency is showing signs of strength by weathering a market storm with a fairly steady rate.
THETA is the 40th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $742,472,081
MoM %: 6.26%
YoY %: 57.66%
OKX is one of the largest digital asset exchanges in the world, enabling crypto traders and investors to trade a wide range of crypto assets.
OKB is the exchange’s utility token that provides users with benefits and discounts. The exchange token can be used to pay transaction fees, grant users access to voting and governance on the exchange. There’s some reward for users holding OKB too.
While OKB struggled in the early weeks of the month, it managed to break free from the bearish market trend to record a few green daily candles.
OKB is the 55th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $563,754,244
MoM %: 2.10%
YoY %: 37.822%
Basic Attention Token (BAT) aims to power the next generation blockchain-based digital advertising platform designed to reward regular users and advertisers by cutting out traditional intermediaries. BAT is the currency in this digital advertising ecosystem and is used to transfer value between advertisers, publishers, and users.
BAT has shown impressive price movement as it ran to a new all-time high in July. BAT's bull run in the month comes off several integrations and partnerships. They have currently partnered with NEAR, ApeSwap, Arken Finance, Bogged Finance, Breeder Dodo, Open Ocean Global & Skiff Privacy among others all this month.
BAT is the 66th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $3,777,124,811
MoM %: 5.27%
YoY %: 73.716%
Uniswap is one of the largest decentralised trading protocols, facilitating decentralised trading of cryptocurrencies. Despite the bearish market sentiment, Uniswap gained considerable popularity this year, thanks to its recently added features and associated surge in token trading.
Uniswap (UNI) rebounded sharply from $3.33 on July 18 to reach a high of around $6 for the month.
UNI is the 20th largest cryptocurrency by market capitalisation as of July 4th 2022.
Market capitalisation: $293,283,528
MoM %: 2.94%
YoY %: 57.23%
Synthetix is a DeFi platform that provides on-chain exposure to a broad range of crypto and traditional assets by offering crypto investors access to synthetic assets, called synths.
The SNX token rose from a two-year low of $1.45 hit on 18 July to trade at over $3.59 on 22 July – an almost 150% surge in less than a week. The token crashed to around $2.63 later.
One possible reason for the price surge could be the growth in the number of active addresses on Synthetic. Active addresses jumped from 327 on 17 July to 1074 by 20 July, suggesting increased demand for the protocol’s crypto investment solution.
SNX is the 94th largest cryptocurrency by market capitalisation as of July 4th 2022.
*Market capitalisation and price percentage as of July 4th, 2022.
Recommended reading: What is tokenomics?
The best cryptocurrency to invest in is ultimately up to the trader and their risk appetite. There are many different options to choose from in the current market. Some investors prefer to focus on well-established currencies like Bitcoin and Ethereum, while others may be more interested in newer currencies with a lot of potential for growth in the years to come.
One of the reasons there are so many cryptocurrencies is because the crypto market has become a lot more mainstream in the past 5 years and acceptance of cryptocurrency is at an all time high.
It seems like every few months, another new cryptocurrency hits the market. With so many different options to choose from, it can be hard to understand what makes one digital currency unique from another. Some of these new coins are promising and innovative, while others seem to be little more than a thinly-veiled attempt at scamming unsuspecting investors. Conducting your own due diligence on cryptocurrency is crucial for all investors.
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