CoinGecko – Crypto Industry Report, Q3 2024

The CoinGecko Crypto Industry Report for Q3 2024 highlights the stability in the total crypto market cap, which closed at $2.33T despite volatility caused by macroeconomic factors. The market experienced a sharp dip in August due to economic weaknesses and central bank decisions, dropping below $2.0T before rebounding towards the end of September. The average daily trading volume decreased by 3.6% compared to Q2. Among the top 30 cryptocurrencies, SUI and TAO were the notable gainers, climbing in ranking. Newcomers POL and XLM entered the top 30, while MATIC, USDe, ETC, and XMR dropped out. Bitcoin increased its dominance in the market during Q3, while Ethereum saw a decline, marking a significant shift in market share between the two leading cryptocurrencies. The report suggests reduced interest in Ethereum as Bitcoin gains ground.