The market driven by bitcoin continued to fare better in Q2 of 2023 as both trading volume and market capitalization rose, while a were followed by next performance.
Increasing Bitcoin Market Cap
BTC's market cap increased by more than 5% in Q2. Most research, like that from Bainance, believes that the increasing appeal of EFT across various entities is what has helped the bitcoin market boom. However, considering the relative level of bitcoin's value, I'd venture to say that Wall Street is investing in the ETF.
Growth in BTC Trading
In Q2, the most popular cryptocurrency for trading was bitcoin. The price of bitcoin has been hovering around $29k for some time. It has experienced some ups and downs, briefly reaching levels of $30k and $28k. As a result of this price stability, day traders are also actively engaged in the market to make money.
Comparative Level of Altcoins
In the cryptocurrency market, outperforming one another is ineffective until the performance is superior to bitcoin; for this reason, the whole altcoin industry (including memecoin and shitcoin) promotes itself by showcasing superior performance to expand its market. Only Ethereum currently holds a candle to Bitcoin in comparison.