Binance Research: Total cryptocurrency market capitalization decreased by 11.3% in April.

ChainCatcher message, Binance Research released the April cryptocurrency market report, with the following key points:

• The total market capitalization of cryptocurrencies decreased by 11.3% in April, primarily due to changes in interest rate cut expectations, geopolitical risks, and a slowdown in Bitcoin spot ETF flows;
• The total supply of dollar-pegged stablecoins reached a two-year high. The supply of USDT and USDC has been steadily increasing, indicating ongoing capital inflows into the cryptocurrency market;
• Most of the top ten tokens by market capitalization were in a downward trend by the end of the month, with TON and BNB rising by 1.0% and slightly falling by 1.4%, respectively. ETH and BTC both dropped by around 8% in April, while XRP and SHIB fell by 17.1% and 19.2%, respectively. DOGE, ADA, SOL, and AVAX were down by about 30% by the end of the month;
• The overall TVL of DeFi decreased by 0.7% in April. Among the top ten blockchains, Merlin Chain had the fastest TVL growth, increasing by 1000%, with a TVL exceeding $1 billion;
• The NFT market also saw a decline in April, with total monthly sales dropping by 21% to $1.11 billion. Four of the top five NFT collections by sales that month belonged to the Bitcoin ecosystem.