Binance analysts name well-known digital assets that have outperformed bitcoin

According to a report by Binance Research, Solana and XRP cryptocurrencies showed an increase of 30.5% and 27.6% in July, respectively. According to this indicator, digital assets outperformed bitcoin and other major cryptocurrencies.

The company’s analysts believe that SOL’s growth was driven by an increase in trading volume on decentralized exchanges (by 42.2% month-on-month). The average daily number of active addresses in the network reached a record 1.7 million.

«The positive sentiment about the ecosystem was reinforced by several events in the DeFi market, including the introduction of Jito restaking and the announcement of the Drift forecasting market,» Binance Research added.

In turn, XRP’s appreciation began after the CME launched benchmark indices and reference rates, experts noted. The statement by Ripple Labs CEO Brad Garlinghouse on the resolution of a legal dispute with the US regulatory agency SEC also had a positive impact.

In July 2024, some assets showed a drop in prices. In particular, ethereum fell in price by 1.6%, and the TON coin faced a 12% drop.

As a reminder, the value of the XRP cryptocurrency increased by 20% after the court ruling in the Ripple Labs v. SEC case. The court ordered Ripple Labs to pay a fine of $ 125 million. This decision brought the end of a three-year legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). The lawsuit was first filed in December 2020.