According to the data disclosed by CoinGecko on the X platform, the total market value of cryptocurrencies fell by 14.4% (408.80 billion dollars) in the second quarter of 2024, falling to 2.43 trillion dollars, basically fluctuating between 2.30 trillion dollars and 2.90 trillion dollars. At the same time as the cryptocurrency market fell, the S & P 500 index rose by 3.9%, resulting in a significant decrease in the correlation between the cryptocurrency market value and the S & P 500 index, from 0.84 in the first quarter to 0.16 in the second quarter. In addition, cryptocurrency volatility remained high in the second quarter, with total market capitalization at an annualized rate of 48.2% and bitcoin at an annualized rate of 46.7%. In contrast, the S & P 500 index was much less volatile at 12.7%.