The crypto market had another mixed quarter with NFT losing ground and massive sell-offs while Bitcoin and DeFi show positive signs, as reported by CoinGecko.
Bitcoin Outperformed Other Assets Aside From USD
In comparison to Q2/2022, the crypto market grew by 6.5% in capitalization. Despite persistent volatility in the market, Bitcoin continues to dominate over other assets except for the USD.
The world’s largest cryptocurrency has remained in a narrow range between $19,000 and $20,000 while US equities continue to slide.
While equities have been largely on a downtrend for the past few weeks, Bitcoin has ended the quarter with only a -1% change in price.
Stablecoins are also one of the major highlights in CoinGecko’s report. Key findings reveal a quarterly loss of $4.7 billion – QoQ decline of 3% in the market cap of the leading stablecoins.
Notably, the USDC incurred $9 billion in loss after the sanction…
