The cryptocurrency market witnessed a 13% growth in July, driven by a shift from Bitcoin (BTC) to altcoins, as per Binance Research’s latest report. Ether (ETH) emerged as the front-runner, experiencing a 51% increase as corporate treasury investments surged, doubling in presence.

Key Highlights:

• Ether’s Surge: Ether saw a 51% increase, attributed to corporate treasuries adopting the cryptocurrency, enhancing corporate reserves by 128%, reaching 2.7 million ETH.
• Stablecoin Transactions: U.S. stablecoin regulations propelled monthly transfer volumes to approximately $2.1 trillion, surpassing those of Visa.
• Tokenized Stocks Growth: The market valuation for widely traded tokenized stocks spiked by 220%, mirroring the expansion seen in decentralized finance (DeFi) in earlier periods.

JPMorgan has scaled up its pilot program for deposit tokens, and major players like Citi are exploring tokenized deposits for cross-border payments.

Overall, this growth trend suggests a favorable integration of cryptocurrencies into traditional financial frameworks, especially if current macroeconomic conditions remain beneficial.