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2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

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Tác giả gốc: CoinGecko

Bản dịch gốc: 1912212.eth, Tin tức tầm nhìn xa

After nearly breaking all-time highs in the first quarter of 2024, the total cryptocurrency market capitalization gave up some of its gains in the second quarter, falling 14.4% to close at $2.43 trillion in June.

Total cryptocurrency market capitalization fell 14.4% in Q2

  • As of Q2 2024, the crypto market cap was $2.43 trillion, lagging behind the SP 500鈥檚 3.9% gain.

  • Volatility in cryptocurrencies remained high in the second quarter, with volatility at 48.2% for Bitcoin, 46.7% for BTC, and 12.7% for the SP 500.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

Bitcoin prđá at the end of Q2 is $62,734

  • BTC fell 11.9% at the end of the second quarter, and the impact of the fourth halving is currently minimal.

  • The transfer of 140,000 BTC by Mt. Gox and the sale of seized BTC by the German government have filled the market with anxiety.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

Bitcoin mining hash rate reaches new high, then begins to decline

  • Hashrate peaked at 7.21 M TH/S in April and subsequently fell 18.8%, the first drop since Q2 2022.

  • Despite the decline in hash rate, BitDigital, Hive, and Hut 8 are still moving into AI, and Tether has invested $500 million in mining.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

MEME coin is the most popular narrative in Q2

  • MEME coin accounts for 14.3% of the total crypto market share.

  • Among the TOP 15 cryptocurrency narratives, 4 are related to MEME coin.

  • Solana, Ethereum, Base and TON have strong ecosystems, and Solana and Base lead their competitors with 22.9% of market attention.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

Ethereum experienced inflation in Q2

  • A total of 107,725 ETH were destroyed, and at the same time 228,543 ETH were released, resulting in a net increase of 120,828 ETH in supply.

  • Due to the network activity and lower gas fees, the Ethereum destruction rate fell by 66.7% month-on-month.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

Exchange spot trading volume fell 12.2% to $3.4 trillion

  • Binance remains the largest exchange with a market share of 45%.

  • Bybit surged rapidly in Q2 and has surpassed Upbit to become the second largest spot exchange.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

DEX trading volume reached $370.7 billion, up 15.7% month-on-month

  • DEX benefited greatly from the surge and airdrop of MEME coins in Q2.

  • Uniswap leads with 48% market share, Thruster (DEX on Blast) volume surged 464% to $6 billion, and Aerodrome grew 294.7% to $5.9 billion, each accounting for 3% of the market share.

2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

Liên kết gốc

This article is sourced from the internet: 2024 Crypto Market Q2 Review: Total Market Value Shrinks by 14.4%, MEME Remains Popular

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