Large-Cap Tokens And DeFi Lead Crypto Rally

Digital assets prices rallied in July, with Bitcoin up 19% and Ethereum up 58%. Among the crypto sectors we track, DeFi was the best-performing sector.Among crypto sectors we track, July saw DeFi leaders up 58%, infrastructure applications up 40%, smart contract leaders up 30%, and metaverse leaders up 23%.Exchange tokens rose 33% this month, led by bankrupt Celsius, which gained 60% as collateral values rose and retail depositors were prevented from making withdrawals.Digital assets prices rallied in July, with Bitcoin up 19% and Ethereum up 58%. Among the crypto sectors we track, DeFi was the best-performing sector.Large-caps tokens led digital assets prices higher in July as Bitcoin (BTC-USD) (BTC, mkt cap $457B) and Ethereum (ETH-USD) (ETH, mkt cap $209B) rose 19% and 58%, respectively, vs. the Nasdaq, which rose 10%. Multiple bankruptcies across the crypto lending ecosystem, including Voyager (VGX-USD), Vauld, Zipmex, Three Arrows Capital and Celsius (CEL-USD), punched an estimated $5B hole in corporate crypto balance sheets. However, the pain prompted consolidation, led by buyers FTX and Nexo (NEXO-USD), giving investors some confidence that a buyable bottom has formed. Meanwhile, alongside falling commodity prices and improving risk appetite generally, we observed significant crypto collateral posted on-chain to leveraged BTC and ETH positions in DeFi, bringing the levels at which material liquidations might occur down ...