TechFlow news, HashKey Capital's June monthly report shows that the total market capitalization of the crypto market declined by 7% due to negative news and lack of catalysts. Nonetheless, adjusted total value locked (TVL) increased by 6.7%, outpacing the market cap decline.
The number of active wallets for Bitcoin and Ethereum grew by 26% and 34% respectively, with users holding more than one Bitcoin surpassing one million for the first time. Activity on Layer 2 and Layer 3 networks saw significant increases. Bitcoin traded in a range between $60,000 and $64,000 during June.
While centralized exchange (CEX) trading volume declined, decentralized exchanges (DEX) recorded their best performance in three months.
Overall, despite weak market performance in June, multiple positive indicators suggest the fundamentals of the crypto market remain solid, with potential for continued growth ahead.
