In the second quarter of 2023, the cryptocurrency market showed a complex dynamic. After the total market capitalization fell to $2.8 trillion in the first quarter, there was a slight rebound at the beginning of the second quarter, but it still faced significant fluctuations due to macroeconomic uncertainties. Bitcoin's dominance solidified, with a market share of 60.6%, and its price hovered around $85,000, outperforming most altcoins. Solana performed brilliantly, rising 36% from its first quarter low, due to the launch of Canada's first Solana ETF and an on-chain meme frenzy. In contrast, Ethereum continued to be sluggish, with its market share dropping to 7.3%, a five-year low, partly attributed to a lack of innovation and a slowdown in DeFi activity.