, and Bittrex. The primary reason behind this decline can be attributed to the regulatory hurdles that these exchanges encountered. The big question arises: How has this impacted cryptocurrency market capitalization?has shed light on a significant decline in spot trading in the second quarter of this year. The report highlighted the pivotal role the Securities and Exchange Commission played in this decline across various exchanges.
Notably, Binance experienced a staggering decline of almost 70%, while Coinbase, Kraken, OKX, and Huobi saw spot volumes plummet by over 50% in Q2. . Analyzing the market cap chart revealed a fluctuation pattern between highs and lows since the beginning of the year. However, the second quarter showcased greater volatility, followed by a significant upward trend toward its conclusion.As of this writing, the cryptocurrency market cap had surpassed $1.2 trillion. It was accompanied by a 24-hour trading volume exceeding $37.8 billion.