TL;DR:
- The total valuation of the sector declined by 12.6% in the second quarter of 2026, erasing $304.8 billion.
- Average daily trading volume decreased by 20.9% quarter-over-quarter to $93.1 billion.
- Prediction markets recorded a notional volume of $113.8 billion during the same period.
The Q2 2026 report from CoinGecko revealed that crypto market capitalization closed its third consecutive quarter in red territory after losing $304.8 billion. Overall, the segment recorded a 12.6% quarter-over-quarter drop, setting global valuation at $2.1 trillion at the end of June.
Read the full breakdown:https://t.co/xYdJZIO2AL
— CoinGecko (@coingecko) July 23, 2026
Liquidity contraction and performance of major assets
The official CoinGecko report indicates that this figure represents the lowest point reached by the market since September 2024. The current level sits approximately 52% below the all-time high of October 2025.
The report attributes June’s downward pressure to the Federal Reserve’s monetary stance, geopolitical tensions between the United States and Iran, and a symbolic Bitcoin sale executed by Strategy.
Over the course of the quarter, Bitcoin registered a 14.2% contraction, while Ethereum experienced a steeper decline of 25.4%. According to the report, both cryptocurrencies underperformed compared to U.S. equities.
Spot trading volume across the top ten centralized platforms dropped to $1.95 trillion, equivalent to a 27.9% fall. Binance retained the top spot with a 38.7% market share, while Bybit occupied second place with 10.0%.
Meanwhile, the stablecoin sector suffered a 1.6% cut in its combined valuation, settling at $305.1 billion. Circle’s USDC retreated by $3.7 billion to close at $73.5 billion, while Tether held near $184.4 billion, raising its market share to 60%.
Surge in prediction markets and tokenized collectibles
In contrast to the general trend, the notional volume of prediction markets increased by 48.7% quarter-over-quarter to reach $113.8 billion. In June alone, this category logged $52.8 billion, setting an all-time record driven by a high-frequency sports calendar.
CoinGecko data indicates that Kalshi expanded its market share from 42.4% to 58.9%, while Polymarket’s share slipped to 30.2%. Rothera, the joint initiative between Robinhood and Susquehanna launched in May, generated $2.1 billion in volume during June.
Likewise, the tokenized collectibles category expanded under the leadership of Collector Crypt, whose monthly volume soared by 317% between January and June 2026, concentrating 62.8% of the segment.
In the perpetual derivatives market, Hyperliquid’s HYPE token managed to enter the top 10 by capitalization. Heading into the third quarter of 2026, the sector will keep its focus on upcoming reports regarding net flows in spot ETFs and central bank interest rate decisions.
