Stablecoin market rebounds to $161 billion, with crypto market cap at $2.27 trillion

From Investing.com

July 16, 2024 10:00 AM:

The crypto market has surged in 2024, with a total market cap of $2.27 trillion, indicating a 37.3% increase year-to-date. Most gains came in Q1 with a 60.2% rise, followed by a 14.3% dip in Q2. Top performers include and , with 48% and 43% returns. Analysts highlight Bitcoin’s strong performance and diversification benefits.

Bitcoin and Ethereum started the year strong, with Bitcoin gaining market dominance post-Halving and Ethereum seeing growth in restaking and updates. BNB Chain excelled in the memecoin space. Layer-2 projects saw a surge in airdrops, leading to a 90% increase in TVL to $43 billion.

DeFi experienced a significant influx of capital, increasing TVL by 72.8% to $94.1 billion. The stablecoins market has rebounded, reaching $161 billion. NFT markets faced turbulence, while Web3 gaming saw a strong Q1 but a drop in Q2 market cap.

Despite falling token prices, Web3 gaming projects continue to attract users. Six key themes are expected to shape the second half of 2024, including macro environment changes, Bitcoin ecosystem developments, and advancements in ownership economy applications and real-world assets (RWAs).

Read more at Investing.com: Stablecoin market nears pre-TerraUSD crash levels: Binance Research By Investing.com