Market Pulse is a compilation of key charts and insights by Binance Research, shedding light on the state of crypto.
Market Overview: Q2 was a modest quarter for crypto. Total crypto market capitalization rose by 0.4% QoQ despite an uncertain macroeconomic and regulatory environment.
Layer 1s: Blockchain activity bounced back in Q2. From a price perspective, Bitcoin had a great quarter, while Avalanche outperformed in daily transactions and unique addresses.
DeFi: Q2 marked a period of decline for DeFi as Total Value Locked (“TVL”) fell 11.2% QoQ, ending the quarter at US$44.2B.
NFTs: NFT sales fell 23% QoQ in Q2, which was in tandem with the declining price performance (-19%), as measured by the NFT-500 index.
Gaming: The gaming landscape was led by BNB Chain, Ethereum, and Polygon, with more than 67% market share (by number of games).
Q2 State of Crypto: Market Pulse
Binance Research (Colin Chan, Keng Ying Sim, Nicholas Tan Yi Da)
Jul 27th, 2023