TechFlow news, on August 12, according to an official blog post, Binance Research analyzed key dynamics in the cryptocurrency market for July in its latest report. The crypto market cap increased by 6.1% in July, driven by positive factors such as the U.S. Securities and Exchange Commission's approval of nine spot ETH ETFs and Germany's sale of 50,000 BTC. However, the market still faces potential risks from the Mt. Gox repayment and U.S. government BTC transfers. Spot Ethereum ETFs recorded $5.8 billion in trading volume during their first week, with a net outflow of $484 million—primarily due to outflows from Grayscale’s ETHE—while net inflows into all other ETFs reached $1.5 billion.
In the decentralized finance (DeFi) sector, total value locked (TVL) grew by 3.5% in July. CORE, Scroll, and Mantle saw increases of 121.2%, 66.0%, and 30.9% respectively, driven by improved user experience, enhanced liquidity, and the rising popularity of meme coin trading. Additionally, influenced by the election cycle, prediction platform Polymarket achieved record-high trading volume and active trader numbers, with over $387 million in trading volume for the month—an increase of more than 614% compared to January.
