2Q24 recap

- Despite a stablecoin mkt cap increase of 8% in 2Q24, BTC, ETH and alts (excluding stablecoins) price delinced by 15%, 8% and 18%, respectively.
- Meanwhile, the US stock market performed well, with Nvidia, the leading AI company, seeing its price soar by 38%.
- The DXY (US Dollar Index) experienced a slight increase, while gold prices remained nearly flat

Outlook
- The ETH ETF is set for approval in July, but its demand remains uncertain, with expectations that it will capture only 10-20% of the interest compared to Bitcoin ETFs
- Without demonstrating technological innovation, Ethereum, often considered a tech-focused crypto, might struggle to retain investor attention amid the strong interest in AI.
- Bitcoin may continue to solidify its position as digital gold, supported by favorable interest rate and macro environment.
- ALT SZN might focus more on memecoins rather than low float/high FDV VC coins with large unlocking schedules.