During a relatively stable second quarter, Bitcoin and Ethereum have expanded their shares to over 70% of the total cryptocurrency market capitalization for the first time since April 2021

During the same period, the recently released Crypto Market Insights Report 2023Q2 by TokenInsight indicates the crypto market saw a decrease in the total market capitalization of stablecoins.

According to the report, the stablecoin market cap declined by 7% in the first half of 2023 to $128 billion as of the end of June.

A CryptoSlate analysis of the combined BTC and ETH dominance charts shows they rose a combined 12%, which implies that factors other than a shift from stablecoins have contributed to the increased dominance of Bitcoin and Ethereum.

The TokenInsight report highlights regulatory …