TechFlow news, October 14 — CoinGecko's Q3 2024 Cryptocurrency Industry Report revealed that despite global economic volatility, the total market capitalization of the crypto market remained relatively stable, closing the quarter at $2.33 trillion, a slight 1% decrease from the previous quarter. Key highlights from the report include:
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Bitcoin's market dominance rose to 53.6%, an increase of 2.7% quarter-on-quarter; Ethereum's market share declined by 3.6%, falling to 13.4%;
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Prediction market trading volume surged by 565%, with Polymarket capturing 99% of the market share in September;
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Ethereum L2 transaction volume grew by 17.2%, with Base standing out by accounting for 42.5% of all transactions in Q3;
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Centralized exchange (CEX) spot trading volume dropped to $3.05 trillion, a 14.8% decline quarter-on-quarter, and Binance's market share fell below 40% for the first time;
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In the decentralized exchange (DEX) space, Ethereum remains dominant, but its cumulative trading volume decreased by 19.6% quarter-on-quarter, facing intense competition from Solana and Base.
The report also noted that due to geopolitical and economic events, major asset classes such as gold and the Japanese yen outperformed Bitcoin.
