CoinGecko Q3 Report: CEX spot trading volume fell 14.8% to $3.05 trillion compared to the previous quarter
News on October 14th, CoinGecko released the Q3 2024 Cryptocurrency Industry Report. Despite the total market value of cryptocurrencies remaining at $2.33 trillion this quarter, fluctuations came from geopolitical events such as changes in the Federal Reserve's interest rates and unexpected rate hikes in Japan. The key points of the report are as follows:
1. The total market value of cryptocurrencies fell by 1% in Q3, ending the quarter at $2.33 trillion - The total market value of cryptocurrencies reached a high point of $2.61 trillion on July 22nd, but due to global economic weakness, it plummeted significantly on August 6th;
2. Bitcoin's market share rose to 53.6%, an increase of 2.7% from last period; Ethereum had the largest decline among the top seven cryptocurrencies with its market share dropping by up to 3.6%, ending Q3 with a market share of only13 .4%;
3.Q3 CEX spot trading volume dropped to $30.5 trillion, down by14 .8% compared to last period - Binance remains as the largest CEX exchange platform but for first time since January 2022 its market share has fallen below40 % , currently standing at38 %.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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