CoinGecko released the second quarter of 2024 crypto industry report, which pointed out that after almost breaking the historical high in Q1 of 2024, the total market value of cryptocurrencies gave up some gains in Q2, falling 14.4% and closing at $2.43 trillion in June.
Bitcoin fell 11.9% during this period, and trading volume fell 21.6%, with an average daily trading volume of $26.6 billion. Meme coins were the most popular narrative in Q2, accounting for 14.3% of the market share.
In addition, 107,725 ETH were destroyed in Q2, while 228,543 ETH were issued, resulting in a net increase of 120,818 ETH in supply. The destruction rate fell 66.7% month-on-month due to slowing network activity and lower gas fees.
CEX spot trading volume fell 12.2% to $3.4 trillion. Binance remains the largest CEX with a market share of 45%; Bybit surpassed Upbit in Q2 to become the second largest spot CEX.
DEX trading volume reached $370.7 billion, up 15.7% month-on-month, with Uniswap leading with a market share of 48%.