At the end of July, the cryptocurrency market witnessed a clear shift in capital rotation : major blockchain projects slowed down, while mid-to-small cap altcoins surged, driven by speculation, robust DeFi activities, and bullish narratives.
While Bitcoin had reclaimed the $118,000 mark, capital has shifted toward undervalued cryptocurrencies in the market. Nevertheless, Bitcoin has fallen today to $114,200 and has filled its CME gap.
However, yesterday’s surges help us identify cryptocurrencies that could explode in case of a BTC rebound :
Market Capitalization : Less than $600M with a volume of approximately $580M
7-day Change : +22.7%
Price Update : Pump.fun (PUMP) led the list of gainers with a surge of nearly 22.7%, trading around $0.003095 as of July 31. Despite this, it has dipped back to $0.0025 as Bitcoin filled the gap at $114,000 this morning.
Market Capitalization : Approximately $900M to $1B
7-day Change : +12.8%
Price Update : Ethena (ENA), which leverages DeFi primitives to expose users to ETH and USD movements, gained about 12.8% thanks to growing interest from DeFi traders seeking yields. It currently trades at $0.57.
Market Capitalization : Mid-cap level with a 24h volume of approximately $72M
7-day Change : +8.9%
Price Update : Driven by narrative excitement and speculative interest, Story Protocol (IP) finished in the top three yesterday with a gain of approximately 8.9%, now trading at around $5.98.
Market Capitalization : Approximately $450 to $500M (daily volume ~$457M)
7-day Change : -6.7%
Price Update : With a drop of nearly 6.7% in 24 hours, Conflux (CFX) is currently trading at $0.2126. This reversal over a week follows previous gains, indicating profit-taking and a shift in sentiment.
Market Capitalization : $188M based on a volume of approximately $188M
7-day Change : +8.34% intraday, but weaker over the week, signaling volatility without consistent growth.
Price Update : Sonic (S), currently around $0.3014, experienced significant intraday gains yesterday of approximately 8.3%, but hasn’t been one of the main movers of the week.
Market Capitalization : Over $1B (daily volume ~$482M)
7-day Change : +4.5% intraday, but moderate decline over the week
Price Update : Curve DAO (CRV), currently around $0.92, recorded losses today (approximately -1.72%), with a weaker weekly performance compared to trending cryptos.
In summary, the end of July has been marked by a clear rotation of capital toward small and medium-cap altcoins, driven by speculative enthusiasm and DeFi activity. While major blockchain projects have slightly slowed down, memecoins and those with strong narrative potential have stood out.
This dynamic clearly illustrates crypto investors’ risk appetite during this period, as they seek to capture opportunities offered by the most volatile altcoins. Although Bitcoin has remained stable, significant flows into these assets suggest that this trend should continue into August.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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