Ethereum Corporate Treasuries Explode 127% Amid Capital Turnover in July – Binance Research

Ethereum's corporate adoption boom lifted the July altcoin rally, with XRP, SUI, ADA, DOGE and BNB benefiting from positive sentiment.

Bitcoin maintained its role as the market's anchor asset in July, reaching a new record high of $123,000. The performance, however, coincided with a notable market structural shift as investor capital flowed aggressively into altcoins.

According to Binance Research market insights shared with Cryptopotato, Bitcoin's dominance decreased by 5.2% to 60.6%. During the same period, altcoin dominance rose to 39.2%, one of the biggest monthly jumps of 2025.

The turnaround was supported by improved macroeconomic sentiment, optimism surrounding the US Federal Reserve's rate-cutting cycle and uncertainty in market conditions.

ETH will be an enterprise favorite.

This change is led by Ethereum, which is up 51% on the month, supported by institutional participation. Corporate ETH holdings rose 127.7 percent to 2.7 million ETH, and were about half of US-listed ETH ETF holdings. In July, 24 companies included ETH on their balance sheets and chose direct ownership over ETF exposure due to stock awards and Ethereum's deflationary supply model.

Beyond Ethereum, several other altcoins posted significant gains. XRP, SUI, Cardano (ADA), Dogecoin (DOGE) and BNB are all fueled by ecosystem developments, expanding corporate adoption and growing investor interest in DeFi and tokenization use cases.

This market-wide rally reflected the market's desire to diversify beyond Bitcoin as sentiment for altcoin utility strengthened. In the stablecoin sector, the passage of the GENIUS Act on July 17 was a regulatory breakthrough in the US, introducing a federal framework for fully protected, AML-compliant stablecoins.

The development encouraged institutional acceptance. For example, JPMorgan expanded its deposit token pilot, Citi advanced token testing for cross-border settlements, and Visa committed to expanding stablecoin-based payments. On-chain stablecoin settlement volumes continue to exceed Visa transaction volumes.

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NFT market recovery

The NFT sector has witnessed a sharp recovery. According to Binance Research, total trading volume jumped 50% in July. The top position in terms of sales is held by Ethereum-based NFTs, which gained 58%. Bitcoin NFTs rose more than 28%.

The standout driver was a 393% increase in CryptoPunks sales following the headline-grabbing whale acquisition. However, polygon-based NFT activity has slowed. Industry discussions around the inclusion of NFTs in EFF structures have suggested a preliminary institutional study of the sector.