Unlike the strong rally seen in Q1, the BTC price remained steady in Q2 but reached a new high and exceeded $30,000 in the closing weeks, which marks the highest price since the market crash triggered by Terra’s collapse in June 2022.
Amid the turbulence of Q2, the LSD sector performed remarkably well. From the perspective of ETH staking, significant withdrawals were observed following the activation of the staking withdrawal option on April 12, with net withdrawals peaking at 400,000 ETH.
Q2 2023 marked the second MEME boom, following the first one in Q4 2021.
zkEVM projects also made notable progress, with significant growth in TVL and transaction volume.
The aftermath of the FTX crash continued to unfold. While intensifying its crypto regulation, the SEC initiated multiple lawsuits, released guidelines, and established a crypto asset task force.
On June 13, Uniswap released a draft version of its latest V4 update. Essentially, the version represents the culmination of all the DEX innovations since the invention of AMMs, bringing user-friendly features from traditional trading to DEX transactions. Additionally, it also establishes an efficient and gas-saving contract architecture.
Worldcoin, a crypto project founded in 2019 by Sam Altman and Alex Blania, aims to provide a globally and freely distributed cryptocurrency, as well as a global identity system based on biometric data.
Real World Assets (RWA) Expanding. According to the report released by CitiBank in March, the projected global tokenized RWA scale for 2023 is estimated at $6.1 trillion, 2.33% of all RWAs.
Q2 presented both opportunities and challenges for the crypto market. From BTC and ETH to MEME coins to other cryptos, crypto projects are constantly evolving and seeking new breakthroughs. At the same time, the tightened regulation ensured the stability and continued growth of the market.

2023 Q2 Crypto Quarterly Report