Crypto market cap fell 12.6% to $2.1T in Q2, CoinGecko says

Crypto market cap fell 12.6% to $2.1 trillion in the second quarter, CoinGecko said. The drop is the third consecutive quarterly contraction. Average daily spot volumes dropped 20.9% from the first quarter.

CoinGecko described the Q2 move as a broad cooling in market activity. Liquidity and participation declined across spot and derivatives platforms, the data provider said. Prediction markets, which allow bets on future events, saw less severe volume declines than spot markets, CoinGecko said.

The data provider also tracked prediction market odds on Hyperliquid. The probability of the token hitting a $100 price target by year-end 2026 has fallen. CoinGecko attributed the shift to traders pricing in the broader downturn.