VICTORIA, Seychelles, July 12, 2024 — KuCoin Research has released its latest monthly report, providing comprehensive insights into the cryptocurrency market’s performance in June. The report highlights significant developments shaped by macroeconomic uncertainty and technological innovations, underscoring the dynamic nature of the crypto sector.
Despite the challenges, interest in AI themes has propelled NVIDIA’s market value to new heights, making it the highest-valued company globally. In the stablecoin sector, the issuance volumes for USDT and USDC remained stable, reflecting a cautious market sentiment. TON’s ecosystem thrived against downward market trends, achieving over 80% growth in TVL, mainly due to its gaming projects’ popularity and Telegram’s vast user base.
In the ETH Layer 2 sector, Base outperformed Optimism in TVL rankings, while Linea and Scroll attracted considerable attention and capital for their token issuance and restaking innovations. The Solana Foundation’s new tools, “Actions” and “Blinks,” aim to simplify on-chain transactions and enhance user interaction within Web3 applications.
Investment activity remained robust, with a total financing volume close to $900 million. Early-stage investments showed a notable increase, with Series A funding surging from 7.77% to 18.84%, indicating a jump of 142%. This trend highlights strong interest in emerging projects and innovative solutions within the cryptocurrency market.