The total crypto market cap decreased by 14.4% in the second quarter this year, ending at $2.43 trillion, while the S&P 500 increased by 3.9%, according to the 2024 Q2 Crypto Industry Report by Coingecko. Bitcoin’s price fell by 11.9%, ranging from $58,000 to $72,000, with its mining hash rate dropping 18.8% after reaching an all-time high in April. Despite bitcoin’s fourth halving, market reactions were minimal. Ethereum’s supply grew by 120,000 ETH due to a reduced burn rate. Meme coins, real-world assets, and AI remained prominent, capturing 35.7% of the market share. Centralized exchange trading volumes dropped by 12.2% to $3.40 trillion, while decentralized exchanges saw a 15.7% increase to $370.7 billion, driven by meme coin activity and airdrops. Uniswap led DEX trading, but Thruster and Aerodrome saw significant growth.
Crypto Market Cap Drops 14.4% in Q2 2024, Report Shows
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
