Altcoins ‘bled’ as Bitcoin gained dominance in Q2: CoinGecko

The second quarter of the year has actually been a strong one for Bitcoins performance as its market supremacy gained against altcoins, which “bled” throughout the quarter, according to CoinGecko.On July 18, the crypto information aggregator launched its industry report for Q2 2023 which noted Bitcoin (BTC) and Ether (ETH) continued to construct upon their Q1 gains over Q2.Meanwhile, Binance Coin (BNB), XRP (XRP) and Cardano (ADA) suffered double-digit losses over that time.CoinGecko said BNB and ADA saw the biggest losses as both were labeled securities in suits against Binance and Coinbase submitted by the Securities and Exchange Commission.Decentralized finance (DeFi) tokens were hit especially hard throughout the quarter with Uniswap (UNI), Chainlink (LINK) and Lido (LDO) taking double-digit losses. Source: CoinGeckoThe huge winner for the duration was Bitcoin, which outshined the rest of the market with its gain of practically 7%, the report kept in mind. Bitcoin dominance topples after XRP success” After a stellar Q1, Bitcoin still surpasses most significant asset classes in Q2, only lagging behind the NASDAQ and S&P 500,” the report specified.

Thank you for reading this post, don't forget to subscribe!