Throughout the first half of 2023, the crypto market has not been smooth sailing. In a recent report, the crypto data provider CoinMaketCap reviews the key developments in the crypto industry over the period.
The crypto industry, particularly dynamic in 1er semester…
CoinMarketCap (CMC), the crypto industry data provider recently released an industry trend report. The study covers the entire period of the first half of 2023, of which it draws up the crypto developments over the period.
CMC data show a significant increase in the capitalization of the global crypto market. The latter peaked at $1.17 trillion at the end of the second quarter.
Compared to what it was at the start of the year, this growth represents an increase of 48%. CMC notes the relative calm of the second quarter compared to the first, which saw significant developments.
CMC’s report on the state of the crypto market also looks at users’ perception of the industry. The Crypto Fear and Greed Index, which gauges this sentiment, shows a clear shift in investor enthusiasm.
This went from a rating of 30 (fear), to 52 (neutral), at the end of the first half of 2023. A breakthrough that highlights the increased greed of traders when it comes to crypto investments. .
However, the report shows a decrease in total spot trading volume on 20 of the major crypto exchanges. A quarter-on-quarter drop of 36%, reflecting an almost dormant state in June.
With interesting prospects for the second
The first half of 2023 is also that of the remarkable growth of Virtual Reality (VR) and Augmented Reality (AR). A trend that also concerns artificial intelligence (AI) and BIG data.
Despite a difficult market, each of these segments has seen its market capitalization rise since the beginning of the year. The same is true for the memecoins segment, the number of tokens in circulation has exploded.
With that of DeFi, AI, BIG data, the memecoin segment is enjoying great popularity. It is the same for smart contracts, essentially focused on Ethereum.
The undisputed queen of cryptos, bitcoin, should be at the center of crypto developments in the second half of the year. This, along with the rise of decentralized physical infrastructure. So are initiatives to make real-world assets tradable on the blockchain.
Overall, the first half of 2023 showed growth and emerging trends in various sectors. This, with ongoing developments shaping the crypto market for the rest of the year.
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