CoinGecko Q3 report: CEX spot trading volume fell 14.8% month-on-month to $3.05 trillion
CoinGecko released its 2024 Q3 Cryptocurrency Industry Report, which noted that despite the total market capitalization of cryptocurrencies remaining at $2.33 trillion during the quarter, volatility came from geopolitical events such as changes in US Federal Reserve interest rates and unexpected interest rate hikes in Japan. The report's key points are as follows: 1. The total market capitalization of cryptocurrencies decreased by 1% in Q3, ending the quarter at $2.33 trillion. -The total market capitalization of cryptocurrencies reached a high of $2.61 trillion on July 22nd, but fell sharply on August 6th due to global economic weakness. 2. Bitcoin's market dominance increased to 53.6%, a 2.7% increase from the previous quarter. Ethereum saw the largest decrease in market dominance among the top 7 cryptocurrencies, dropping by 3.6% to end Q3 with a market dominance of 13.4%. 3. The spot trading volume of CEX in Q3 decreased to $3.05 trillion, a 14.8% decrease from the previous quarter. -Binance remains the largest CEX, with its market share falling below 40% for the first time since January 2022, currently at 38%.
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