Crypto Market Cap Reaches $3.7 Trillion with 14% July Increase
The crypto market experienced a rebound in July, with total market capitalization increasing by 14% to $3.7 trillion, according to JPMorgan's report.
- Average market cap rose 12%, fueled by gains across tokens, decentralized finance, non-fungible tokens, and exchange-traded products.
- Ether’s market cap surged 49%, significantly outpacing Bitcoin’s 8% increase.
- Record inflows into U.S. spot ether ETPs reached $5.4 billion, raising total ETH ETP assets to $21.5 billion.
- Bitcoin spot ETFs added $6 billion, totaling $152 billion in combined assets under management.
- Average daily trading volumes increased by 49%, with token volumes up 51% month-over-month; Ether volumes rose 60% compared to Bitcoin's 15% increase.
Key drivers of this rally include the passage of the GENIUS Act, an active crypto IPO pipeline, and strengthening partnerships between traditional finance and DeFi. These factors, along with a positive risk sentiment in global markets, suggest that recent price gains may be sustainable.