🚨 🚨 Market Pulse: Key Insights from Binance Research 🚨

Market Overview: In Q2 2024, the crypto landscape saw several positive milestones, including the approval of Ethereum ETFs and the initial filings for Solana ETFs in the U.S. Despite these advancements, the total crypto market capitalization dropped by 14.0%, influenced by concerns over Mt. Gox repayments and the German Government's Bitcoin sell-offs.

Layer 1s & 2s: Solana continued to shine with over 1.1 billion transactions in Q2 2024, leading all Layer-1 (L1) networks. Layer-2 (L2) solutions also saw significant growth, with Arbitrum reaching an all-time high (ATH) in daily active addresses.

DeFi: ..The DeFi sector saw a 5.4% decrease in total value locked (TVL) to US$152.0 billion, largely due to the broader market downturn. Nonetheless, DEX trading volumes remained robust, with a 5.5% increase in average monthly spot volumes quarter-over-quarter (QoQ).

NFTs: The NFT market faced substantial challenges, with total sales volume plummeting by 43.9%. This decline was accompanied by reductions in transaction count and the number of unique buyers.

Gaming: The gaming sector continued to evolve, with BNB Chain, Ethereum, and Polygon leading the market, accounting for over 68.5% of games by count. These platforms remain at the forefront of blockchain gaming development.

#Write2Earn! #BinanceTurns7 #altcoins #BullBanter #HamsterKombat