Bitcoin had a blast in July, along with major cryptocurrencies which achieved their best production in the last month.
Ether (ETH), the second-largest cryptocurrency behind Bitcoin in terms of market capitalization, outperformed Bitcoin by 57 percent in July, ahead of the forthcoming migration to Proof-of-Stake.
According to data released by Arcane Research on Monday, after a terrible start to the year, July was the best month for Bitcoin in 2022, with a nearly 17 percent price increase.
The crypto declined after hitting its highest levels since mid-June on Saturday in the face of optimism that the crypto market may have finally thawed from its worst levels.
With a monthly return of 16.6%, BTC recorded its best month of 2022 and its greatest monthly return since October of last year.
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