Top 5 crypto market trends from Coingecko's Q2 report

The total crypto market cap was outperformed by the S&P 500, falling 14.4% in Q2. Meme coins accounted for 14.3% of the total crypto market share in Q2 2024. Spot trading volume on centralized exchanges hit $3.40 trillion in the same quarter. Coingecko's Q2 report on Tuesday revealed key market performances in the crypto industry and how they may affect Q3 and Q4 performances.

A possible cause for the increased market dominance may be the meme coins frenzy, which began in March — characterized by rallies in various Solana-based meme and celebrity tokens — and the return of GameStop trader Roaring Kitty. Real-world assets and AI tokens mindshare were not far behind, rising by 11.30% and 10.09%, respectively. Centralized exchanges experienced rough declines in spot trading volumes at the end of Q2, recording only $3.40 trillion.

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