Ethereum Takes the Lead in This Week’s Crypto Market Shake-Up

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The cryptocurrency market witnessed a turbulent yet telling week, as volatility sent shockwaves across major digital assets. Despite the instability, Ethereum (ETH) edged out competitors Bitcoin (BTC) and Ripple’s XRP, posting the strongest net gains, fueled by robust institutional demand and sizeable inflows into United States Spot Ethereum Exchange-Traded Funds (ETFs).

Digital currencies opened the week on a bullish note, only to plunge midweek before partially recovering. Bitcoin (BTC), the world’s most traded cryptocurrency, hovered around $117,400 at the start of the week and saw a modest rise to $118,000 by the end, just a 0.5% increase. BTC briefly peaked at $120,200 between July 22–23 but dropped below $115,000 on July 25, showcasing its familiar volatility.

Ethereum (ETH), on the other hand, delivered a more promising performance. Starting the week at $3,550, it surged to $3,850 by July 2,1, a seven-month high before settling at $3,750. That translates to a weekly net gain of 5%, making it the top performer among the three. Analysts attribute this rally to consistent institutional buying and an influx of over $1.85 billion into U.S. Spot Ethereum Exchange-Traded Funds (ETFs), along with an additional $2.18 billion in earlier flows.

Ripple’s XRP saw a different trajectory. The asset entered the week at $2.96 and spiked to $3.53, then slid back to $3.20, ending the week with a net loss of 6.7%. Even so, XRP remains up significantly over the past month, with a 45% surge attributed to recent favourable court developments and broader investor interest.

Investor sentiment this week remained tilted toward greed, as indicated by the Fear and Greed Index, which held steady at 64. Market capitalisation reached $3.82 trillion, reflecting bullish confidence despite macroeconomic uncertainties. Among other noteworthy movers were Ethena (ENA) and Pudgy Penguin (PENGU), which emerged as top gainers, further underscoring the shifting dynamics of digital asset investment.

Several external events also influenced market behaviour, including geopolitical tensions like the Thailand-Cambodia conflict and moves within the U.S. Federal Reserve. A notable factor was Galaxy Digital’s Bitcoin sell-off, which analysts say contributed to midweek declines.

In the end, Ethereum’s sustained momentum, backed by real-world institutional activity, positioned it at the forefront of the week’s crypto race. While Bitcoin and Ripple’s XRP remain long-term contenders, ETH’s solid fundamentals and inflows suggest a growing preference among serious investors. What next week holds remains to be seen, but for now, Ethereum wears the crown.