Overleveraged traders resulting in cascading liquidationsīSC and Polygon are leading the DeFi expansion beyond Ethereumĭespite the 65% total value locked (TVL) quarterly growth, Ethereum saw its TVL dominance drop from 93% to 79% in Q2.Regulations from China clamping down on Bitcoin mining.The Federal Reserve may raise interest rates sooner than expected to curb higher than expected inflation.Tesla no longer accepting BTC as a medium of exchange due to its environmental impact.
The large sell-off can mainly be attributed to On June 22, 2021, it briefly touched its lowest price at $29,154, representing a 55% drawdown.īitcoin ended the quarter at $35,969, a 40% decline in price, and consolidated between the $30,000 to $36,000 range. Overall, Q2 returns underperformed in comparison to the previous quarter.īitcoin ended Q2 2021 at $35,969, a 44% decline from its all-time highīitcoin’s price has declined since hitting its all-time high in April. On the other hand, Bitcoin suffered a loss of 40%. In June alone, breeding fees accounted for $6.9 million, or 57%, of the total revenue.ĭogecoin flew to the moon as it gained 366% and outperformed the top five cryptocurrenciesĪs the market entered a meme frenzy in Q2, Dogecoin led the pack with an impressive 366% gain. Most notably, breeding fees surpassed marketplace fees in May, and this increase is most likely due to the Ronin migration, which lowers the costs of breeding and the increased demand for Axies. With the Ronin side chain phase two implementation, revenue ballooned alongside trading volume, and within six months, Axie Infinity’s revenue increased 118x.
0 kommentar(er)
