Mid Cap Crypto Coins Leading In July, The Best Way To Get Through Winter?

Mid Cap Crypto Coins Leading In July, The Best Way To Get Through Winter?

Although the crypto market has succumbed to winter, there are some digital assets that have refused to be dragged down with it. These cryptocurrencies have struggled harder than even their larger counterparts have been able to keep their heads above water. Two weeks into the new month and most assets in the space are already in the red. However, Mid Cap cryptocurrencies have gone in the opposite direction.

The Mid Cap Index takes the leading role

The July market was not favorable for investors. This is evident in the red numbers pasted all over the chart. Bitcoin which has seen the most support in recent times also failed to escape the rush, but there is a group of coins that managed to turn it around for good.

Related Reading | Bitcoin’s daily net flows show that the sell-off has not abated

The Mid Cap Index is one that consists of coins that are ranked from 11 to 50 in the market. These coins are ones that have proven themselves over time and as a result have built an impressive community behind them. That being said, they have been able to weather the bear market better than any other cryptocurrency. While other indexes posted negative returns, the Mid Cap Index rose 1.9% in the first two weeks of July.

Mid Cap Index is in the green | Source: Arcane Research

By comparison, bitcoin is down -0.2% since the beginning of July. The small-cap index has fared better than bitcoin in this regard, but is still in the red with -0.1% year-to-date. As for the Large Cap Index, they took the biggest hit in the market. These top 10 tokens collectively recorded -0.9%, the biggest loss in the market.

Leaders in the crypto market

Despite the Mid Cap Index holding the biggest recovery during the bear market, the crypto market leaders still maintained their position in the market. Bitcoin’s dominance over the market is still high, and even stablecoins are not letting go of any of their market share.

Mid Cap Crypto Coins Leading In July, The Best Way To Get Through Winter?

BTC dominance on the rise | Source: Market Cap BTC Dominance on TradingView.com

The fall in the price of bitcoin has not affected its dominance in any way. In fact, bitcoin added another 0.43% to its market dominance, mostly stealing this dominance from other large caps like Ethereum and BNB. Its market dominance now stands at 43.78% at the time of writing.

Related Reading | Cardano (ADA) price remains low despite Vasil Hard Fork noise

In the same way, stablecoins maintain a strong hold on their market dominance. They have acted as a safe haven for investors trying to escape the extreme volatility of the crypto market without displacing their funds entirely. USDT, USDC and BUSD have added to their market dominance over the past week with 0.16%, 0.19% and 0.06% gains in dominance over the same time period.

As the week draws to a close, it is difficult to determine which index will win for the week. One thing that is certain though is that there will certainly be more losses than gains as the weekend approaches.

Featured image from Inc. Magazine, charts from Arcane Research and TradingView.com

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