Binance Research: Bitcoin market share reaches its highest level since April 2021

ChainCatcher news, Binance Research released the mid-2023 report, which states that the crypto industry shows signs of sustained growth, with significant developments across multiple sectors and overall robust performance. Among them, Bitcoin's market share reached its highest level since April 2021 at the end of the half-year, with a price increase of over 87% year-to-date, significantly outperforming many TraFi investments. Meanwhile, the correlation between Bitcoin and TraFi is currently at a multi-year low.

In terms of stablecoins, the global stablecoin market cap decreased by 7%, while USDT's market share increased by 25.8% year-to-date. Compared to the global cryptocurrency market, DeFi's dominance has declined by 0.5%.

Regarding NFTs, the trading volume of NFTs in the first half of 2023 increased compared to the second half of 2022, mainly driven by the increased activity in the Blur market at the beginning of the year. However, due to the decline in the floor prices of many NFT collections, the performance of NFTs in the overall crypto market has also been relatively weak. Compared to the second half of 2022, the trading volume of NFTs in the first half of 2023 increased, mainly driven by the increased activity in the Blur market at the beginning of the year. However, due to the decline in the floor prices of many NFT collections, the performance of NFTs in the overall crypto market has been relatively weak. (Source link)