CoinGecko Q2 2023 Cryptocurrency report

[Bash4j]

Data for Q2 2023 shows the cryptocurrency market thriving
to consolidate gains with a slight increase of 0.14%, from a total market cap of $1.238 trillion on March 31, 2023, to $1.240 trillion on June 30, 2023. Overall trading may have reduced, but the market has grown greatly with Bitcoin showing solid network activity while a few major exchange tokens recorded an increase in price in Q2 with $BGB having the best returns, going up by 22.6%. The Q2 2023 quarterly report examined various elements of the market, with one of the most notable insights being the edging out of Huobi and Crypto .com out of the top 10, while  Bybit and Bitget took their places. Bybit and Bitget saw trading volumes increase by $13.1 billion and $1.5 billion respectively and were the only exchanges in the top 10 to gain volume.

What do you think about this?

[Maxicreed01]

Crypto market was met with quite a number of challenges recently which is obviously the reason we didn't see significant increase in trading volume but I guess the impressive performance by the two two Bs exchanges particularly Bitget could be tied to their innovative ideas. Their success story in Copy trading which has onboarded good number of elite traders has eased the adoption of crypto cos record have it that more than 500k users copy trades from those elite traders but I think more still needs to be done and the era of traditional big names could be over which is the beauty of decentralization 

 

[AnanyaBushra]

Bitget and Bybit owe a lot of their success to their launchpad, which had a big impact. One must admit, Candybomb, SuperAirdrop, and launchpool played important roles in driving the positive price trend of $BGB, sometimes even surpassing $BNB's price trend.

[collins244]

In this bear market, BGB has proven to be a top-performing exchange token, surpassing even the well-known BNB. This can be attributed to its multiple utilities and the significant role the exchange has played in the success of the industry as a whole.

[BashJasper]

I'm still looking for a reason why BGB sparked that high in the current market but after reading the comments here, I now understand that over the past few months a lot of events have been held on their exchange that requires the utility of the native token hence the price action. But still, I feel there could be more under the nose than can be felt already. Maybe there could be more marketing going down some where from the management of the platform

Edited July 29 by BashJasper
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