The cryptocurrency market experienced a notable upswing in July, with altcoins, stablecoins, and tokenized stocks leading the charge, as reported by Binance Research. The market’s value surged by 13%, driven by investors pivoting away from Bitcoin (BTC) and embracing a broader array of digital assets. For more insights, see our detailed coverage of Altcoins, Stablecoins, Tokenized Stocks Drive July’s Crypto Gains, Binance Says.
Altcoins Surge as Ethereum Leads
Ethereum (ETH) emerged as the star performer, rallying by an impressive 48%. This surge was bolstered by 24 companies adding ETH to their balance sheets, resulting in a 128% increase in corporate holdings to 2.7 million ETH. This figure is tantalizingly close to half of what Exchange Traded Funds (ETFs) currently hold. Binance attributes this trend to several factors: staking yields, Ethereum’s deflationary supply, and a growing corporate comfort level with crypto holdings. This aligns with our recent analysis in Ethereum Surge Shifts Focus to Altcoins as Speculation Heats Up.
BTC’s dominance waned by 5.2 percentage points, settling at 60.6%. This shift was partly fueled by market expectations of Federal Reserve interest-rate cuts and the passage of three significant crypto bills in the U.S., including the GENIUS Act, which provides clarity on fully reserved stablecoins.
Stablecoins and Tokenized Stocks Gain Traction
Stablecoins continued to hold their ground with transfer volumes near $2.1 trillion, once more outpacing Visa—a trend that’s persisted since late 2024. Financial giants like JPMorgan and Citi are expanding into this space, with JPMorgan piloting deposit tokens and Citi exploring tokenized deposits for seamless cross-border settlements. Visa, for its part, reiterated its view of stablecoins as complementary to its network.
Meanwhile, the market capitalization of widely traded tokenized stocks, such as Tesla (TSLA), soared by 220% month-on-month. Binance’s report excludes Exodus Movement (EXOD) shares from its calculations, noting potential distortions. Tokenization—converting real-world assets into blockchain-tradable digital forms—is gaining momentum, with the RWA tokenization market valued at $24 billion as of June this year. Active on-chain addresses for these tokenized stocks jumped to 90,000 from just 1,600, while centralized exchanges facilitated over 70 times more trade volume than their on-chain counterparts.
The Broader Implications and Looking Ahead
Binance draws parallels between the current growth of tokenized stocks and the DeFi boom of 2020-2021, estimating that tokenizing just 1% of global equities could unlock a staggering $1.3 trillion market. NFT sales also saw a resurgence in July, led by a 393% increase in CryptoPunks transactions and a 28% rise in Bitcoin NFTs, although volumes remain shy of previous peaks.
The report hints at a potentially transformative period ahead for crypto markets. If macroeconomic conditions remain favorable, the ongoing capital rotation into altcoins, paired with regulatory advancements for stablecoins and tokenized assets, might just propel cryptocurrency further into the realm of mainstream finance.
Yet, questions linger. Can this trend maintain its momentum? Will regulatory environments continue to evolve positively? The next few months could offer answers, setting the stage for the next chapter in crypto’s ever-evolving narrative.
Source
This article is based on: Altcoins, Stablecoins, Tokenized Stocks Drove July’s Crypto Gains, Binance Says
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
