Crypto market cap fell to $2.1 trillion, a 21-month low, after a $304.8 billion Q2 loss. Bitcoin dropped 14.2%, Ethereum 25.4% as trading volumes slumped.
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Crypto market capitalization fell to $2.1 trillion at the end of June, the lowest level since September 2024. The drop came after a $304.8 billion loss in the second quarter, a 12.6% decline from the previous quarter, according to a CoinGecko report published Tuesday.
CoinGecko attributed the downturn to the Federal Reserve's monetary stance and geopolitical tensions between the U.S. and Iran. A Bitcoin sale by Strategy also added pressure, the report said. The current market cap sits roughly 52% below the all-time high reached in October 2025.
Bitcoin registered a 14.2% contraction over the quarter. Ethereum fell 25.4%. Both underperformed relative to U.S. equities, CoinGecko noted.
Spot trading volume across the top 10 centralized exchanges dropped 27.9% to $1.95 trillion. Binance held the largest share at 38.7%. Bybit came in second at 10%.
Stablecoin combined market cap slipped 1.6% to $305.1 billion. Circle's USDC declined by $3.7 billion to $73.5 billion. Tether held near $184.4 billion, raising its market share to 60%.
Prediction markets bucked the trend. Notional volume jumped 48.7% quarter over quarter to $113.8 billion. June alone set an all-time record with $52.8 billion, driven by a high-frequency sports calendar, CoinGecko said. Kalshi expanded its market share to 58.9% from 42.4%. Polymarket's share slipped to 30.2%. Rothera, the joint venture between Robinhood and Susquehanna launched in May, generated $2.1 billion in volume during June.
Tokenized collectibles also grew, led by Collector Crypt. Its monthly volume surged 317% between January and June, and the platform now holds 62.8% of the segment, per the report.
In perpetual derivatives, Hyperliquid's HYPE token entered the top 10 by market capitalization.
CoinGecko said the sector's focus in the third quarter will be on net flows into spot ETFs and central bank interest rate decisions.
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