Bitcoin has seen a 24.2% decrease in trading volume, though open interest has only dropped by 4.3%, indicating ongoing interest despite the seasonal slowdown in trading activity. Additionally, the total value locked (TVL) in decentralized finance (DeFi) protocols hit a yearly high in early June before decreasing by 9.95% by the end of the month. Despite this drop, DeFi has shown significant growth in 2024, with a 75% increase compared to the end of 2023
Ethereum and Solana remain prominent in decentralized exchange (DEX) trading volumes, with Ethereum leading at $48.7 billion and Solana at $38.4 billion. Solana has notably increased its market share in DEX trading, rising from 1.6% in June 2023 to 25% in June 2024, largely driven by the popularity of meme coins