Crypto▲ Bullish
Altcoins Show Strength in Pockets as Bitcoin Dominance Stays High
ONDO and BANK lead July gains, but 95% of 2024 token launches are underwater. Whales accumulated 14M LINK over three weeks. Bitcoin dominance at 58.85%. Altcoin Season Index at 52.
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The altcoin market is showing real strength, though the move remains narrow. Bitcoin dominance sits at 58.85%. Total crypto market cap is around $2.33 trillion. The Altcoin Season Index is at 52, well below the 75 level that signals a confirmed altseason.
ONDO rallied 15% to 18% in mid-July after Ondo Finance highlighted its tokenized-stock initiative and announced a partnership with Japan's SBI Group to tokenize Japanese assets. The token is up roughly 101% since launch, though it remains about 81% below its December 2024 all-time high.
Lorenzo Protocol's BANK made an even sharper move, trading between $0.1209 and $0.2541. It is still up more than 1,000% from its June low despite pulling back 26.4% from its July 21 peak. An 84 million BANK transfer linked to a possible foundation wallet drew attention, though no official connection has been confirmed. World Liberty Financial also purchased 636,683 BANK. By July 22, rising short interest and falling open interest pointed to early profit-taking.