Bitcoin managed to secure modest gains of 2.95% in July, while Ethereum faced a decline of 5.88%. Ethereum struggled despite the launch of US-based spot Ether ETFs, reflecting its relative weakness compared to Bitcoin (The Currency analytics) (Cointelegraph).
Golem (GLM) Highlights: Golem has been performing strongly, with its price increasing by 50% over the past year. This decentralized computing platform recently conducted an airdrop campaign, expanding its reach and encouraging participation in its ecosystem. By 2025, Golem’s price is expected to range between $0.5 and $1.5 (InsideBitcoins.com).
XRP Developments: XRP saw significant network activity and investor interest in July, with large transactions indicating a bullish outlook. However, the XRP Ledger experienced a 65.6% drop in on-chain transactions in Q2 2024, highlighting some challenges (InsideBitcoins.com) (Cointelegraph).
Market Trends and Projections: The Federal Reserve’s decision to maintain interest rates has influenced the crypto market. Potential rate cuts in September could boost market liquidity, favoring cryptocurrencies. Additionally, Bitcoin is facing a key resistance level at $69,600, and a successful breach could see it challenging new highs around $72,000 (The Currency analytics).
