Plagiarism/Paraphrasing

shanhaigamefi

Quote from: shanhaigamefi on July 25, 2024, 09:13:51 AM

After nearly breaching all-time highs in 2024 Q1, the total crypto market cap dropped -14.4% in Q2, closing at $2.43 trillion in June.

2024 Q2 saw Bitcoin's fourth halving, but the market response was muted. After Q1's exuberance from US spot Bitcoin ETFs, Q2 was choppy for Bitcoin and the crypto market overall.

But it was still an eventful quarter.

Market Cap: Fell -14.4%, ending Q2 at $2.43 trillion, while the S&P 500 rose +3.9%.
Bitcoin: Fell -11.9%, ending at $62,734. Trading volume declined -21.6%.
Mining Hash Rate: Dropped -18.8% after reaching an ATH in April.
Meme Coins: Dominated, with meme coins, RWA, and AI capturing 35.7% market share.
Ethereum: Turned inflationary, adding 120K ETH to the supply.
CEX Trading Volume: Dropped -12.2% to $3.40T, with Binance leading.
DEX Trading Volume: Increased +15.7% to $370.7B, driven by meme coins and airdrops.

Despite the market's recent downturn, the high volatility and significant events indicate several potential future trends:

Continued Volatility: The cryptocurrency market is likely to remain volatile due to inherent market dynamics and macroeconomic uncertainties.
Bitcoin Stability: Bitcoin's price may continue to consolidate within its current range until new significant events or market drivers emerge.
Mining Industry Developments: The mining sector, despite recent hash rate declines, may recover due to technological advancements and substantial investments from companies like Tether.
Ethereum Supply Impact: Ethereum's inflationary trend could put downward pressure on its price, making network activity and burn rates crucial factors to watch.
Rise of DeFi and Meme Coins: Decentralized finance (DeFi) and meme coins are likely to keep attracting investor attention, driving growth in decentralized exchange (DEX) trading volumes.

Quote from: https://www.coingecko.com/research/publications/2024-q2-crypto-report

After nearly breaching all-time highs in 2024 Q1, the total crypto market cap returned some of those gains in Q2, dropping -14.4%, closing at $2.43 trillion in June. 2024 Q2 brought Bitcoin’s long-anticipated fourth halving, which went off without a hitch. Each halving ushers in what crypto natives consider a new era, though the market response to the event was largely muted. After the exuberance in Q1 following the approval of the US spot Bitcoin ETFs, Q2 proved to be pretty choppy for Bitcoin and the crypto market as a whole.