September 29, 2020

CoinGecko released a report on the state of the cryptocurrency market for the third quarter of 2019

CoinGecko released a report on the state of the cryptocurrency market for the third quarter of 2019

CoinGecko, Price, Volume, Network and Fundamental Data Provider Introduces 56-Page report on the state of the market for the 3rd quarter of 2019. Below are the main changes for the analyzed period.

Crypto Market

During the third quarter, the market situationwas relatively stable. So, BTC traded above $ 10,000 for most of the analyzed period. Only at the end of September, the cost of the first cryptocurrency plummeted to $ 8,500. At the same time, altcoins were also not sweet, in the value of some coins there was a two-fold drop. One of them is Litecoin, the rate of which fell by 54%, according to CoinGecko.

On the positive side, the growth of Bitcoin's dominance and hash rate to new highs. So, the BTC dominance index jumped to 70%, and the hash rate to 100 quintillion.

Derivatives market

The study authors added “dummies” information to the report. The main purpose of the guide is to help users understand the concept of the derivatives market and its components.

Thus, during the third quarter, the marketderivatives showed a steady increase of + 300%. The number of tracked CoinGecko derivatives has increased 3 times and now includes 17 crypto exchanges.

DeFi industry

DeFi Industry (Decentralized Finance)continues to expand. Among the most popular areas are lending, derivatives, decentralized exchanges (DEX) and payment services. At the same time, more than 70% of the total ecosystem value is allocated specifically for lending.

Note that the Nasdaq stock exchange has added a new Defix cryptocurrency index to track projects that provide DeFi.

It can be concluded that the development of cryptocurrencies is notstands still and shows good results. The development of the futures market and DeFi suggests that the community is ready for the further adoption of crypto products.