CoinMarketCap has released its Crypto Market Analysis report for H1 2023, describing Q2 as a "lost quarter" due to a lack of a strong market narrative. However, the report notes that Q1 showed positive developments such as Bitcoin doubling in price and the rise of layer-2 solutions. Q1 also showed a strong NFT market driven by product updates and the issuance of NFT marketplace Blur's token.
Despite a challenging market, certain sectors showed resilience and growth in their YTD market capitalizations, including virtual and augmented reality, artificial intelligence and big data, and DeFi projects and infrastructure.
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