This report on Q2 Crypto Market Update needs to be seen 📊

Q2 Crypto Market Update!! You Need To See This Report!! 📈

So far 2024 has been a roller coaster, the first quarter was filled with excitement, while the second quarter not so much as things have cooled down. Everyone has been wondering about the state of the market, and if there’s anyone with an ear to the ground, it’s the crypto price tracking platforms. When they release a report summing everything up, it’s best to pay attention. Today, we’ll break down this report for you, give you an overview of what’s been happening, and tell you where we could be heading next.

Title Paragraph: Q2 Crypto Market Update – Insights You Must Know 📊

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Market Landscape Overview 🌐

The spot Market witnessed disappointing results in Q2 with a 14% drop in total market cap and a 177% decline in trading volumes.
Bitcoin dropped in dominance slightly to 50%, while Ethereum’s dominance remained at 17%. Other altcoins continued to decline.
New entrants like Ton Coin, Pepe, Casper, Cass, Athena’s, USDE, Monero, and FET made waves in the top 30 rankings.

Market Cap Dominance 💰

Bitcoin maintained over 50% dominance of the market cap, while Ethereum’s dominance was around 17%.
Altcoins continued to decline, displaying a flight to safety, especially with the new ETFs for Bitcoin and Ethereum.

Price Performance Analysis 📉

Sol took the biggest hit in Q2, dropping by 28%, with other top cryptos like GRT, CRO, and GALA also facing significant losses.
Not Coin, a newcomer, stood out with a 95% gain by the end of Q2, showcasing resilience in the volatile market.

Growth of Stablecoins and Notable Movements 📈

Stablecoin market cap grew by almost 7%, driven mainly by USDT and Athena’s USDE, which saw a staggering 134% increase.
PayPal’s PYUSD experienced a significant growth of 124%, while FDUSD struggled with an 18% decline against its counterparts.

Popular Crypto Categories and New Projects 🚀

Meme coins, real-world assets, and AI cryptos accounted for over a third of web traffic, with meme coins leading the way, showcasing the unique trends in the industry.
New projects with low float and high FDV launched, highlighting potential risks and rewards for investors.

Bitcoin’s Performance and Runes Protocol Analysis 💻

Bitcoin’s performance in Q2 was underwhelming, with a 12% decline, and the halving did not have the expected effect on prices.
The Runes Protocol saw a surge in daily transactions initially but experienced a significant drop by the end of Q2, raising questions about its sustainability.