CoinGecko Releases Their Q1 2020 Report

CoinGecko reports increased ...

CoinGecko reports increased activity in the cryptocurrency market
CONTENT

  • The total capitalization of the digital asset market continued to grow during the reporting period

  • Capital inflows to the cryptocurrency market in the third quarter exceeded $ 9 billion

  • Bitcoin (BTC) continues to show strong correlation with the S index&P 500

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CoinGecko’s Quarterly Cryptocurrency Report Reflects Increased Market Activity, Including Trading Turnover And The Emergence Of A Number Of New Decentralized Exchanges

CoinGecko, the world’s leading independent cryptocurrency aggregator, released its third quarter quarterly report on the cryptocurrency market, which drew attention to the emergence of new trends in the cryptocurrency space, including the growing influence of the decentralized finance segment (DeFiDecentralized finance (DeFi) is financial services based on blockchain technology that offer users access to an open, efficient and…

CoinGecko reports increased ...

More).

The document says that apart from a slight drawdown in mid-September, the total capitalization of the digital asset market continued to grow during the reporting period, which fits into the general trend followed by the market after the March collapse, which overtook all global markets amid panic around the coronavirus pandemic. Compared to the previous quarter, total market capitalization increased by 31%, while trading volumes increased by 34%.

Bitcoin (BTC) Continues To Show Strong Correlation With US Stock Index S&P 500 (SPX) during August-September. During this period, the BTC / USD pair has risen in price by a modest 8%, having marked a local maximum at around $ 12,272 on August 18.

Capital inflows to the cryptocurrency market in the third quarter exceeded $ 9 billion, with a significant part of it coming from the hype around profitable farming in the DeFi segment. 66% of this inflow is denominated in Tether (USDT), while the Ethereum (ETH) ecosystem has become the main beneficiary of the new capital inflow.

Also in the last quarter, several new Decentralized Exchange Exchanges (DEX) appeared on the market.

CoinGecko reports increased ...

Moreover, monthly trading turnover on the top 10 decentralized exchanges grew from $ 3.8 billion in July to $ 30.4 billion in September. Much of this phenomenal growth is driven by the hype around DeFi and profitable farming, which is already dwindling..

CoinGecko reports increased ...

Uniswap and Curve continued to lead in the ratings of decentralized platforms, which by the end of the third quarter controlled 80% of the DEX market.

The full version of the CoinGecko report can be found here.

 

 

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